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) > Phase 2 debt target of less than 250 million

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Post by vwbusmanon Oct 14, 2023 7:36am

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Post# 35683483

Phase 2 debt target of less than 250 million

SGY managed to pay off 20 million of debt in Q2 (during poor WTI price for the quarter). So debt stood at 311 million at end of Q2. I am thinking with the better price in oil for Q3 and hopefully Q4, they just may be able to hit their Phase 2 debt target at the end of Q4.

That would be great as they will then shift 25% of funds from debt repayment over to Share Buybacks, Acquisitions, Base Dividend Increases and Special Dividends - according to the Fall 2023 Investor Presentation.

What are people's opinions on them hitting the target by end of 2024?

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Advancing flagship Ishkõday Gold Project in Ontario