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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 Dibah420on Oct 24, 2022 4:28pm
226 Views
Post# 35044861

RE:EN focuses on energy stocks...

RE:EN focuses on energy stocks..."The largest release from strategic stockpiles in history is set to come to an end in just over two months. This coincides with an EU embargo on Russian oil imports and the use of EU tankers to transport Russian crude in early December, potentially impacting Russian production by up to 1MM Bbl/d."


In my mind, there is nothing to suggest that Biden is done with withdrawals.  In fact I am inclined to believe just the opposite, given the price trends at the pump and the approaching 2024 date.

Max capacity of SPR is around 710 m bbls.  Current holdings, as of Oct 21, 2022, are 401m.  Plenty of room to maneuver.  Uncle Sam is known to dump on the market without Dep Energy announcing beforehand.
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