Back-of-Envelope Takeover Price: $11.82Here's my back-of-envelope takeover price ($11.82) based on the Crescent Point's valution of Spartan.
Crescent Point paid $1.7B for Spartan's 38,000 boe/d = $44,737 per boe/d
Surge boe/d = 25,500
Thus $44,737x 25,500 = $1,140,789,474 Valuation
With 96,500,000 shares outstanding, that means $11.82 per share..which is about 23% upside from today's share price.