The Globe and Mail reports in its Wednesday, Jan. 7, edition that National Bank Financial analyst Dan Payne believes that Spartan Delta's development in the Duvernay region of the West Shale basin will yield higher growth and value creation, following the announcement of its spending plan for 2026. The Globe's David Leeder writes in the Eye On Equities column that Mr. Payne is sticking with his "outperform" recommendation for Spartan Delta, while hiking his share target to $9 from $7.50. Analysts on average target the shares at $8. Mr. Payne says in a note: "One of the most impactful programs in the industry continues to press forward with strength, as its Duvernay assets accelerate in support of a magnifying value opportunity; Spartan Delta is poised for an 18-per-cent return profile (vs. peers 13 per cent) on leverage of zero times (vs. peers 0.6 times), while trading at a 4.4 times 2026 estimated EV/DACF [enterprise value to debt-adjusted cash flow] (vs. peers 4.7 times). ... Importantly, efficiencies continue to trend positively within the context of its program, with capital efficiencies improving by a factor of 30 to 40 per cent with support of tailored D&C and rate performance."