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, Greater Sawn and Shaunavon. 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 potential for continued area consolidation. The Valhalla operation is offering stacked pay multi-zone potential with light oil and provides range of area infrastructure and access to multiple egress options supports attractive operating netbacks. The Shaunavon operation is producing low decline, medium gravity crude oil with high operating netbacks. Its Greater Swan operation consists of concentrated light oil asset with conventional slave point reefs.

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Surge Energy Inc (Alberta)

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Post by Carjackon Dec 04, 2023 12:00pm

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Post# 35767195

U.S. Buys 2.73 Million Barrels of Oil for Strategic Petroleu

(Reuters) — The U.S. Energy Department said on Thursday it has finalized contracts to purchase 2.73 million barrels of oil for the Strategic Petroleum Reserve (SPR).

The U.S. has contracts to purchase 930 million barrels (MMbbl) from Exxon Mobil, 600 MMbbl from Phillips 66, 600 MMbbl from Sunoco and 600 MMbbl from Macquarie. The contracts total $215,929,510, according to a statement from the department.

The purchases are part of a plan to slowly replenish the SPR after a record drawdown last year to ease prices in the aftermath of Russia's invasion of Ukraine.

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