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)

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Post by harvesteron May 10, 2024 9:46am

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Post# 36033301

Sucking wind

First quarter 2024 earnings: EPS and revenues miss analyst expectations

First quarter 2024 results:

CA$0.04 loss per share (down from CA$0.15 profit in 1Q 2023).
Revenue: CA$115.6m (down 15% from 1Q 2023).
Net loss: CA$3.63m (down 125% from profit in 1Q 2023).

Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) were also behind analyst expectations.

Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 5.7%.

Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.

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