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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 (E&P) company. The Company's business consists of the exploration, development and production of oil and gas from properties in Western Canada. It holds focused and operated light and medium gravity crude oil properties in Alberta, Saskatchewan and Manitoba, characterized by large oil in place crude oil reservoirs with low recovery factors. It offers exposure to two of the five conventional oil growth plays in Canada: the Sparky and SE Saskatchewan. It holds a dominant land position and is drilling a mix of horizontal multi-frac and horizontal multi-lateral wells in the Sparky area. Sparky is a large, well established oil producing fairway in Western Canada. SE Saskatchewan is a focused operated asset base with light oil operating netbacks. SE Saskatchewan operates low-cost wells with short payouts and offers potential for continued area consolidation.


TSX:SGY - Post by User

Bullboard Posts
Post by Berthamaeon Dec 01, 2014 4:06pm
560 Views
Post# 23182768

Comment from Reuters.

Comment from Reuters.Today's U.S. crude move up was the largest since May with the focus on U.S shale producers. "The market clearly got a little overdone to the downside and now it's coming back up , proof that there will be a response from the shale patch to these low oil prices," said John Kilduff partner at energy hedge fund Again Capital in New York. "Several shale companies are already reporting capital expenditure reductions for next year as their profit margins get thinned out." On Wall Street , shares of shale energy companies Denbury Resources and Newfield Exploration took a beating for the second day in a row falling more than 7% each.   (Taken from Brent Oil Price Chart Live Real Time).             These lower prices can't be sustained. We just have to wait it out.
Bullboard Posts