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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

Post by felix10on Feb 01, 2021 12:57pm
259 Views
Post# 32437556

Acquisition news

Acquisition newsThis doesn't seem to be getting any play at all:


BRIEF-Surge Energy America Announces Significant Midland Basin Acquisition
2021-01-31 10:05:49 AM ET (Reuters)
   
   

Jan 31 (Reuters) - Surge Energy Inc:

* SURGE ENERGY AMERICA ANNOUNCES SIGNIFICANT MIDLAND BASIN ACQUISITION

* SURGE ENERGY - CO, THROUGH ITS SUBSIDIARY, SIGNED PURCHASE & SALE AGREEMENT TO ACQUIRE LEASEHOLD INTEREST, PRODUCING WELLS FROM GRENADIER ENERGY PARTNERS II

* AGGREGATE PURCHASE PRICE OF TRANSACTION IS EXPECTED TO BE APPROXIMATELY $420 MILLION USD

* SURGE ENERGY - COMBINATION OF BOTH PRODUCTION & HIGH-QUALITY INVENTORY SUPPORT BOTH NEAR-TERM CASH FLOW & STRONG ECONOMIC RETURNS FOR YEARS TO COME Source text for Eikon: Further company coverage:

 
BRIEF-Surge Energy America Announces Significant Midland Basin Acquisition
2021-01-31 10:05:49 AM ET (Reuters)
 
 
Jan 31 (Reuters) - Surge Energy Inc:
 
* SURGE ENERGY AMERICA ANNOUNCES SIGNIFICANT MIDLAND BASIN ACQUISITION
 
* SURGE ENERGY - CO, THROUGH ITS SUBSIDIARY, SIGNED PURCHASE & SALE AGREEMENT TO ACQUIRE LEASEHOLD INTEREST, PRODUCING WELLS FROM GRENADIER ENERGY PARTNERS II
 
* AGGREGATE PURCHASE PRICE OF TRANSACTION IS EXPECTED TO BE APPROXIMATELY $420 MILLION USD
 
* SURGE ENERGY - COMBINATION OF BOTH PRODUCTION & HIGH-QUALITY INVENTORY SUPPORT BOTH NEAR-TERM CASH FLOW & STRONG ECONOMIC RETURNS FOR YEARS TO COME Source text for Eikon: Further company coverage:
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