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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.


TSX:SGY - Post by User

Surge Energy Inc (Alberta) > 2014
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Comment by geezer21on Oct 25, 2021 11:42am
147 Views
Post# 34045212

RE:2014

RE:2014
When all the oil producers were in the bubble in 2014 tons of money came pouring in, drillers were 100% utililized and buying new rigs to expand.

Everyone wanted in to make money while the sun was out.  Oil production skyrocketed.

So guess what happened then?  An oil glut and a crash in prices.
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