Calgary-based upstream Spartan Energy said Monday it will reallocate capital from a project in southeast Saskatchewan to a project in central west Saskatchewan due to persistent rain delays in the southeast.

Spartan will reallocate capital from its Frobisher drilling program to its Viking asset.

The company intends to drill an additional 10 horizontal wells at Viking this year. Viking will have a total of 20.5 net wells by the end of 2014.

Spartan will reduce its program at Frobisher by 9 net wells, bringing total net wells at the site to 30 for 2014.

“The additional Viking wells will allow us to execute our entire planned $84 million capital budget despite the delays experienced in southeast Saskatchewan,” Spartan said.

Spartan said despite delays at Frobisher and having fewer wells on production than expected, current production is on track with its initial budget at 7,500 barrels of oil equivalent per day.

Oil and liquids account for 93 percent of production.

Spartan’s production guidance is unchanged at 5,700 boe/d annual average and 8,600 boe/d exit.


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