Surge Energy Inc (Alberta) T.SGY

ARO

[ppp]

So based on the report they started with 1300 wells.   In 20 they took care of 275for 9.3 mil and this year another 349.  This leaves 676.

Based on the above I would say another 30 mil at the max would cover the rest.  This means the rest of the ARO cost is logged to future production. 

So past ARO is a non issue IMO

 

 

 

 

20 Surge Energy Inc | 2020 ESG Report

wells currently undergoing active reclamation; upon abandonment, Phase 1 Environmental
Site Assessments are carried out in an effort to understand and quantify reclamation work to be conducted at a given site .

[WanTBe1]

Surge Energy Inc. Announces Inaugural Sustainability Report Abandoned over 21 percent of the Company's inactive wells in 2020 alone; This is a very low % from 100% Still 79% percent to go .What is the cost per well for this.?

[ppp]

All the info is here. https://www.surgeenergy.ca/wp-content/uploads/2021/12/21-12-20-SGY-ESG_Report-21-12-20.pdf Surge utilized the Alberta Government’s ABC program which allowed Surge to undertake a large-scale abandonment project which provided substantialefficiencies over a well-by-well approach. Surge was able to abandon 55 wells over a 62-day period at 43% less

[ppp]

the average for 18 19 20 was 547 wells reclaimed cost was 6.4 mi for 18, 5.5 for 19, and 9.3 for 20  for a total spent 21.2 mil  so based on those numbers about 39000 per well.  

[pennydredful]

How  much  $$$  came out  of Surge's  pocket  vs.  the  goverments re assistence program?

[ppp]

for 20 4.9 mil was goverment money. just over half . For the first 9 months of 21 they are about 8.6 and 3.5 for grant money. Really stepping on the gas getting those sites reclaimed. Should be very close to caught up by the end of 22