Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Surge Energy Inc (Alberta) T.SGY

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

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.


TSX:SGY - Post by User

Post by Carjackon Nov 17, 2023 3:14pm
98 Views
Post# 35741765

US drillers add oil and gas rigs for first time in three wee

US drillers add oil and gas rigs for first time in three wee

 

Nov 17 (Reuters) - U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, as the oil rig count rose by the most since February, energy services firm Baker Hughes said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, rose two to 618 in the week to Nov. 17. <RIG-USA-BHI> <RIG-OL-USA-BHI> <RIG-GS-USA-BHI>

U.S. oil rigs rose by six to 500 this week, while gas rigs fell by four to 114, their lowest since early September.

Data provider Enverus, which publishes its own rig count data, said drillers cut 13 rigs in the week ended Nov. 15, cutting the total to 690. Nevertheless, the overall count was still up about 2% in the last month but down 21% year-over-year.

U.S. oil futures were down about 6% so far this year after gaining about 7% in 2022. U.S. gas futures, meanwhile, have plunged about 35% so far this year after rising about 20% last year.

Even as lower prices prompt some producers to cut back on new drilling, oil and gas output is still on track to hit record highs in 2023 and 2024 as firms complete work on their already drilled wells.

The total number of drilled but uncompleted (DUC) oil and gas wells dropped by 92 to 4,524 in October, the lowest since December 2013, according to the U.S. Energy Information Administration's (EIA) Drilling Productivity Report.

Gas production in North Dakota rose to a record 3.440 billion cubic feet per day (bcfd) in September, while crude output in the nation's third-largest oil-producing state, was expected to be flat or sightly lower in October but above 1.2 million barrels per day, the state regulator said this week. (Reporting by Scott DiSavino Editing by Marguerita Choy)

<< Previous
Bullboard Posts
Next >>