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) > New Announcement today

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Comment by Relaxrelaxon Dec 09, 2021 6:42pm

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Post# 34216584

RE:New Announcement today

That's huge! Banks no longer controlling the company forcing stupid hedging!

This strategic repayment allows the Company to exit the Business Credit Availability Program ("BCA Program") that governed the BDC Term Facility. Participation in the BCA Program placed certain restrictions on Surge's capital allocation options, including the payment of dividends.

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