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Surge Energy Inc (Alberta) T.SGY

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

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.


TSX:SGY - Post by User

Post by Carjackon Nov 15, 2023 12:22pm
121 Views
Post# 35737121

Trans Mountain Resumes Pipeline Expansion Work in British Co

Trans Mountain Resumes Pipeline Expansion Work in British Co

(Reuters) — The Trans Mountain oil pipeline expansion project on Tuesday said it had been allowed to resume work in a wetland area near Abbotsford, British Columbia, after correcting issues raised by the Canada Energy Regulator (CER).

Earlier this month the CER ordered a halt on an 800-meter stretch after inspectors found several environmental and safety-related non-compliances.

"Trans Mountain has received a notice to resume work from the Canada Energy Regulator ... Trans Mountain corrected all non-compliances in the region and is conducting safety inspections of all active sites to prevent any re-occurrence," it said in an emailed statement.

The stop work order was the latest in a string of delays for the 590,000 barrel-per-day expansion project, which will nearly triple the flow of crude from Alberta to Canada's Pacific Coast once completed.

Trans Mountain has said the expanded pipeline will start shipping crude late in the first quarter of 2024.

Prime Minister Justin Trudeau's Liberal government bought the pipeline in 2018 to ensure the expansion went ahead. The project is expected to cost C$30.9 billion ($22.54 billion), more than four times the original estimate. ($1 = 1.3708 Canadian dollars)

 
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