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) > CERAWEEK US aims to return emergency oil reserve to prior le

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Comment by VeritasVernon Mar 18, 2024 5:11pm

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Post# 35939210

RE:CERAWEEK US aims to return emergency oil reserve to prior le

Right, creative math it seems with double counting.
Only 40 million barrels will be repenished by year end not the 180 million that was taken out. So thats only about 3.3 million barrels per month. The other 140 million is cancelation of 2024-27 sales, which haven't even been sold occurred yet. WTI oil is heading towards $90/b and possibly $100. Depending on who is President will dictate what happens at +$100 oil.

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