Production in Q2/18 (with one month of Spartan included) came in at 80,625 boe/d. Canada produced 55% of the total, 14% came from France, 12% from Ireland and 9% from the Netherlands. Crude oil and liquids were 50% of the total at 40,225 b/d and natural gas production for its 50% was 242.4Mmcf/d of gas.
Capex in Q2/18 of $193M out of the $500M yearly budget was spent in the larger areas: Canada spent of $90M, France $62M and Ireland $41M.
In Canada the focus is on SE Saskatchewan and in West Central Alberta (Chart #9). Production in Q2/18 was 44,600 boe/d of which liquids were 52% of the total. The growth rate is moderate and VET is working to lower costs, increase recoveries and move the business to a greater free cash flow generating one. Spartan added 23,000 boe/d at a flowing boe cost of $60,900 per barrel. 2P reserve additions were 113.5Mb of which 92% were liquids (Chart #10).