RE:Q3 '21 Net Debt Down $50,203,000.00 From Q3 '20They sold $106M worth of assets back in March and reduced their bank debt (at that point) by $100M. That brought it down to $292.8M at the end of Q2 and reduced their production by 2,224 boepd.
As for the difference in Earnings between years, that's primarily due to a reversal in an impairment charge due to changes in reserve valuations due to price differences between March 2020 and March 2021.
geezer21 wrote:
in thousands 9 Months
Sep 30 '21 Sept 30 '20
Net & Comprehensive Income 364,740 - 689,570
Income per share diluted 7.63 (17.51)
Assets 1,156,821 707,964
Shareholder Equity 1,595,569 1,482,249
Deficit 1,242,109 1,549,122
Total Shareholder Equity 410,096 (9,722)
___________________________________________________
Change from first 3 quarters 2020 to first 3 quarters 2021
- Net and Comprehensive income up $1,054,310,000
- Income per diluted share up $25.24
- Assets up $448,857,000
- Deficit down $307,013,000
- Total Equity up $419,818,000
Change in Q3 2021 Net Debt from Q3 2020
Down $50,203,000
Financial Report:
https://www.surgeenergy.ca/wp-content/uploads/2021/11/Q3-2021-FS-SEDAR-Final.pdf