Surge Energy Inc (Alberta) T.SGY

Surge Asset Sale

[uwebb429]

Surge has assets at Sawn Lake, Evi-Otter, Red Earth and Valhalla up for sale.

Total production, 3754 boe/d.

https://twitter.com/emmpeethree/status/1790392452635066738

Tthe proceeds can go towards paying down debt if they can find a buyer. Focusing on Sparky and SE Saskatchewan would be a good thing.

[uwebb429]

National Bank shows that the assets Surge Energy had up for sale are no longer for sale. I am not sure if these assets were sold or if Surge decided to cancel this sale. Hopefully the sale was completed so Surge can get to their next debt target sooner.  https://twitter.com/emmpeethree/status/1793300397463163265

[uwebb429]

National Bank is once again showing that the Sawn Lake assets are still up for sale with a June bid date. https://twitter.com/emmpeethree/status/1795470432050851987 If they can get a fair price for those 3754 boe/d, they will instantly reach their next debt target. Surge appears to be going all in on Hope Valley and SE Saskatchewan.

[zinger99]

Any sense for a reasonable price for these 3700b/d production? This could go a long way to decreasing debt and funding greater cap invstment into our two main plays!  Maybe $180M-200M?

[PreludeSH]

Assuming the same $34K per barrel  for those 3754 barrels/day, then that should be $127M .  If we are at $250M net debt right now then, Surge will be $123M Net Debt after the sale which is well below the $170M net debt target.  I want those 75% cash flow sooner than later.