Surge Energy Inc (Alberta) T.SGY

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

Energy Oil & Gas E&P

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.

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Surge Energy Inc (Alberta)

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Comment by Khersonon Oct 22, 2020 6:32pm

175 Views

Post# 31768931

RE:RE:Decom costs of old wells

pennydredful wrote:
They estimated the cost in the coming year at 5 M . 5M per year for 55 years totals 275M . Some wells do operate for 55 + years . On average the cost per well is amortised over 27.5 years. These numbers are determined by outside engineers so the company cannot fudge the numbers.

An update of this issue is addressed on p.14 of the company's presentation. Clearly, the overall decommissioning costs will be lower.
Kherson

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