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) > $24.00 hedge loss per barrel

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Comment by Baystboy07on Jul 29, 2022 9:46am

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Post# 34859695

RE:RE:$24.00 hedge loss per barrel

I think this is mostly as a result of an over leveraged balance sheet and being forced to hedge too much production by their banking syndicate.....if they do not do anything dumb and these hedges fall off results will get exponentially better. GLTA

ppp wrote: Agreed, their track record sucks.

Here are the numbers over the years. per bbl

17 loss .74 a bbl
18 loss 1.67
19 loss .61
20 gain 3.05
21 loss 14.29
22 Q1 loss 15.58
22 Q2 loss 24.05