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Surge Energy Inc (Alberta) T.SGY

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

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)
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Post by PressReleaseon May 29, 2024 6:39pm
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Post# 36063281

New Press Release - SURGE ENERGY INC. ANNOUNCES NON-CORE ASSET SALES; COMMENCEMENT OF PHASE 2 RETURN OF CAPITAL FRAMEWORK; NORMAL COURSE ISSUER BID; BASE DIVIDEND INCREASE; SPARKY CRUDE OIL DISCOVERY; AND UPDATED 2024 GUIDANCE

New Press Release - SURGE ENERGY INC. ANNOUNCES NON-CORE ASSET SALES; COMMENCEMENT OF PHASE 2 RETURN OF CAPITAL FRAMEWORK; NORMAL COURSE ISSUER BID; BASE DIVIDEND INCREASE; SPARKY CRUDE OIL DISCOVERY; AND UPDATED 2024 GUIDANCE
CALGARY, AB, May 29, 2024 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce a number of recent positive operational and financial developments, including: the sale of certain non-core assets, achievement of Management's Phase 2 net debt1 target, an anticipated...read article.
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