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Spartan Delta Corp. (TSX: SDE) Targets Average Production of 39,500-41,500 BOE/d for FY24
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Highlights
Spartan Delta Corp. (TSX: SDE) is a petroleum and natural gas company. The company primarily operates in the Peace River Arch and Central Alberta regions.
In Q2 2024, the company reported oil and gas sales of CAD 73.4 million. This represents a drop of 56.5% compared to CAD 168.8 million in Q2 2023. Total expenses also decreased to CAD 62.2 million, down 36.9% from CAD 98.6 million a year earlier. Earnings before income taxes fell sharply to CAD 16.9 million, compared to CAD 593.4 million in the same quarter last year, despite some support from other income. As a result, net earnings were CAD 14.3 million, a 96.9% decrease from CAD 457.0 million in Q2 2023.
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