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) > flat production

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Comment by Herfa1on May 03, 2023 10:26pm

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Post# 35429086

RE:RE:RE:flat production

They did an acquisition for 169M + 3M share in december. Normal that the debt increased compared to March 2022 but it is down 20M since december 2022. Share increase is normal with the acquisition. If oil would have not go down that much Surge could have reduced debt for another 10M. I think we woll be ok and it all depends on the fluctuation of oil price.

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Rig Count Soars as Utilization Surpasses Industry Averages