Bullboard - Stock Discussion Forum 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... see more

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Surge Energy Inc (Alberta) > Mike sgy never gets the market price for its crude

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Post by soundandfury on Sep 17, 2021 11:07am

Mike sgy never gets the market price for its crude

They hedge away that........right now they are only getting 60 to 65% market price for their crude.....the other 40% to 45% is just given to dirivative bankets in new york

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Comment by senseimike on Sep 17, 2021 11:18am

They only have 8K of daily production hedged. The rest, which is currently 12K, is at market rates. The 8K is currently hedged at $55, next quarter to $56 and 1Q 2022 is $ 68, then 2Q 2022 is $76. They have only hedged 3K of production beyond that. As cash flow improves and debt goes down the banks will have less control. Hopefully Paul just puts this on auto pilot for awhile and then it ...more

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Surge Energy Inc (Alberta)