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Bullboard - Stock Discussion Forum Surge Energy Inc (Alberta) T.SGY

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

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

TSX:SGY - Post Discussion

Surge Energy Inc (Alberta) > Walking back the numbers
View:
Post by downtozero on Jan 17, 2022 6:14pm

Walking back the numbers

Any ideas what has caused the reductions in planned performance? Why does SGY constantly promise better performance in the future, then walks it back to poorer performance when the dates arrive. Even the lower numbers are good, just not as good as earlier promises. Forcasts for 2022 @$75 WTI
Aug 2021: CAPEX=110M, FCF=140M, debt to funds flow 0.6x
Nov 2021: CAPEX=120M, FCF=135M, debt to funds flow 0.6x
Jan 2022: CAPEX=124M, FCF=131M, debt to funds flow 0.75x

CAPEX went up 14M, FCF went down 9M and debt to funds flow worsened by 0.15x. All to meet the same boepd. I can only guess 2021 had higher decline rate than expected and higher debt servicing costs.
Comment by Tanman1914 on Jan 17, 2022 6:52pm
Probably rising because of Inflation. Prices of labor are more expensive and cost of material. If ya don't believe me, go take a look at the prices at the grocery store since October of last year :)
Comment by ppp on Jan 17, 2022 8:45pm
It all depends on if they can sqeeze a little more production out of the the extra capex. They have some fast paying wells. So time will tell, but I will be watching like a hawk.
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