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.

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Surge Energy Inc (Alberta)

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Post by zack50on Jul 28, 2022 8:51am

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Post# 34856409

National Bank... Key Takeaways

06:50 AM EDT, 07/28/2022 (MT Newswires) -- National Bank has noted Surge Energy Inc. (SGY.TO) overnight Wednesday reported second-quarter operating and financial results in line with expectations, including average production of 21.0 mboe/d (86% liquids) and associated CFPS of $0.91 (in line with consensus).

On Key Takeaways, National cited a "solid" quarter and said value parameters only continue to expand from here, as reflected through a newly instituted return of capital framework. SGY is poised for a 50% return profile (vs. peers 63%) on leverage of -0.1x (vs. peers -0.2x) while trading at 1.9x 2023e EV/DACF (vs. peers 2.2x).