Surge Energy Inc (Alberta) T.SGY

Alternate Symbol(s): T.SGY.DB.B | ZPTAF

Energy Oil & Gas E&P

Surge Energy Inc. is a Canada-based oil focused exploration and production company. The Company’s business consists of the exploration, development and production of oil and gas from properties in western Canada. Its operations include Sparky and SE Saskatchewan. Its supporting assets include Valhalla, and Greater Sawn. The Sparky operation offers light/medium crude oil production with compelling returns. The SE Saskatchewan operation maintains asset base oil operating netbacks. It has low-cost wells with short payouts and the potential for continued area consolidation. The Valhalla operation offers a stacked pay multi-zone potential with light oil and provides a range of area infrastructure and access to multiple egress options supports attractive operating netbacks. Its Greater Swan operation consists of concentrated light oil assets with conventional slave point reefs.

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Surge Energy Inc (Alberta) > Still not happy with the hedges

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Post by twinjetton Jan 28, 2022 4:49pm

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Post# 34373134

Still not happy with the hedges

Looks like for first quarter 2022 they have 7500 barrels a day hedged at $69.61 Canadian. When you convert this to USA dollars it is only $54.08 a barrel. Now using a average oil price of 80.00 barrel we are loosing 26.00 per barrel per day. At 7500 barrels a day hedged X loss of 26.00 our loss per day is $49140.00 loss per day X 90 days in a quarter = total loss for qtr of17,550,000 USA dollars or in Canadian dollars of 21,937,500 Does my math sound correct?

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