Lightstream Resources in $98M non-core asset sale

Lightstream Resources (LSTMF +0.7%) says it has agreed to sell a package of 700 wells and other assets in Saskatchewan, which represents 20% of the production associated with its conventional business, to Spartan Energy (PTORF) for C$98M.

Lightstream now expects 2014 production to average 43K-45K boe/day, while cash flow guidance is unchanged at C$3.19-C$3.34/share.

Also says its seven-well battery in the Swan Hills region of Alberta and B.C. is operational.

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