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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

Comment by Chris007on Dec 13, 2021 6:14pm
163 Views
Post# 34226903

RE:Penny ???

RE:Penny ???Its updated annually. Last one I can find is the 2020 Annual Information Form (pg.13-14): https://www.surgeenergy.ca/wp-content/uploads/2021/03/sgy-2020AIF.pdf

The Corporation is obligated to abandon, retire and reclaim wells and well sites in compliance with applicable environmental laws and regulations. As of December 31, 2020, the Corporation has recordedan asset retirement obligation of $294.7 million. The Corporation anticipates that the expenditures necessary to satisfy the asset retirement obligation will be incurred over a period of twenty years, with the majority of the expenditures being incurred from years 2021 to 2041. Other than asset retirement obligations and ordinary course operational expenditures necessary to ensure environmental compliance, the Corporation is not aware of any environmental protection requirement that will impact its capital expenditures, earnings or competitive position in a manner disproportionate to that of its peers in its area of operations.


soundandfury wrote: Do you know the amount sgy (ASSET RETIREMENT OBLIGATIONS)........I cant seem to find it anywhere......the $ amount in total i mean


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