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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 zack50on May 12, 2022 11:11am
414 Views
Post# 34677853

RE:RE:RE:RE:Hope everyone is enjoying the dividend

RE:RE:RE:RE:Hope everyone is enjoying the dividend
Herfa1 wrote: Go to Surge energy site. Look at the financial statement in the section plant and equipment. There is an acquisition of 42m in this trimester.

The $42MM that you refer to is for "Net Capital Expenditures"... If you delve further you would see the following:

During the first quarter of 2022, Surge invested a total of ~$43 million, excluding acquisitions and dispositions. This investment was broken down as follows:
* $29.7 million to drill and complete 14 gross (14.0 net) wells in Southeast Alberta ("Sparky") and 9 gross (7.5 net) wells in Southeast Saskatchewan and to complete six wells that were drilled in the fourth quarter of 2021. 

* $10.6 million to equip and tie-in wells drilled in the first quarter of 2022 and fourth quarter of 2021.

* $2.7 million was spent on land, seismic and other capital items during the quarter. Only $0.92 million was actually spent on the land referred to here.
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