Tax Pool benefit...Surge has over 1.1B$ of tax pools, so with regard to Surge's dividend model... (a) their operating model of those elite water flooded low decline assets and (b) their financial model of the increasing compounding dividend plus the tax pool coverage...
they have about a 5 year tax ride with 1.1B$ of tax pools so they can shelter a lot of that FCF away from the Feds and be able to distribute it out through dividends on a tax efficient basis to shareholders.