Post by
koolkat on May 05, 2022 6:36pm
Q1 Results & announcement
https://www.newswire.ca/news-releases/surge-energy-inc-announces-intent-to-reinstitute-base-dividend-on-july-15-2022-large-new-light-oil-pool-extension-and-land-acquisition-at-steelman-in-se-saskatchewan-update-on-term-debt-and-credit-facility-intent-to-redeem-5-75-convertible--850584423.html
Comment by
Herfa1 on May 05, 2022 6:48pm
Not happy. Bank debt and term debt were not reduce at all. Again he bought some land, probably overpaid, and say he will pay the debenture by year end. He did not get that the market was not happy with their debt. Not expecting an upward movement tomorrow.
Comment by
masfortuna on May 05, 2022 6:53pm
READ BELOW: Reduced net debt8 by $15.7 million as compared to December 31, 2021 while concurrently completing the Q1/22 capital program for $43.0 million.
Comment by
masfortuna on May 05, 2022 6:56pm
As an FYI O&G companies mostly carry debt. The Difference between now and 2 years ago is that the debt at 300 million is manageable. Especially with $52 million in FCF this quarter and with Q2 already looking to be significantly higher, Overall I am pleased with the quarter.