Canada's Spartan Delta Q4 oil sales rise

Spartan Delta

23/02/2026 13:09

Overview

Canada oil and gas firm's Q4 oil and gas sales rose 57% yr/yr

Q4 adjusted funds flow increased 60% yr/yr

Q4 reported production rose 30% yr/yr to 50,065 BOE/d

Outlook

Spartan targets Duvernay production of 50,000 BOE/d by 2030

Company plans to bring new Duvernay wells on-stream in Q1 and Q2 2026

Result Drivers

DUVERNAY GROWTH - Spartan's Duvernay asset achieved record production, driving significant liquids growth

CRUDE OIL PRODUCTION - Crude oil production increased by 268% from Q4 2024, significantly boosting overall output

CAPITAL PROGRAM - Executed a Q4 capital program of C$97.9 mln, focusing on drilling and completions

Company press release: ID:nCNWF2VJWa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Oil & Gas Sales
C$130.92 mln
Q4 Net Income
C$36.32 mln
Q4 Adjusted Capex
C$97.90 mln
Q4 Net Debt
C$203.92 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Spartan Delta Corp is C$9.75, about 4.7% below its February 20 closing price of C$10.23

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)