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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

Post by ACESoveron May 03, 2023 7:39pm
231 Views
Post# 35428873

Excellent news

Excellent newsI have no issues with Surge. They are on the right track and oil prices will dictate how good it can be. ACE$

In addition, with over $1.4 billion in estimated tax pools at December 31, 2022, Surge is committed to delivering its shareholders a combination of:

  • continued net debt repayment (increasing Surge's NAV per share);
  • a $0.48 per share annual base cash dividend, paid monthly;
  • share buybacks;
  • a modest production per share growth wedge; and
  • potential for variable or special dividends.
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