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Surge Energy Inc (Alberta) T.SGY

Alternate Symbol(s):  T.SGY.DB.B | ZPTAF

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 Carjackon Mar 14, 2024 4:25pm
112 Views
Post# 35933525

Power blackout hits Venezuela's Paraguana refining center, s

Power blackout hits Venezuela's Paraguana refining center, s

A power blackout forced Venezuela's largest refining complex, the 955,000-barrel-per-day (bpd) Paraguana Refining Center, to shut down on Thursday, five sources close to its operations said.

Power outages frequently hit Venezuela's aging refineries and oil terminals, suspending the OPEC country's crude processing and exports and causing domestic fuel scarcity.

"There was an electrical problem, which even left the city without power," one of the sources said.

Technicians from state company PDVSA, which operates the complex, were called to a meeting to coordinate action, another source said.

Crude processing from four distillation units at Paraguana, located on the country's west coast and essential for domestic fuel supply, was at about 200,000 bpd before the blackout, according to another source.

A smaller refinery, the 187,000-bpd Puerto la Cruz, remained in service on Thursday, while most plants at the 146,000-bpd El Palito are halted due to planned maintenance.

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