Surge energy inc alberta Tuvalu

Who is surge energy?

Surge Energy Inc. is an oil focused E&P company that has a high-quality crude oil reserve, production and cash flow base. © 2024 Surge Energy - All Rights Reserved. Surge Energy is an oil focused E&P company with robust financial flexibility and responsible ESG principles.

Did surge sell non-core assets at Shaunavon & Westerose?

1. Sale of Non-Core Assets: On May 29, 2024, Surge closed the sale of two non-core assets at Shaunavon and Westerose (the "Non-Core Assets"), for total net proceeds of $37.4 million (the "Non-Core Asset Sales").

Where can I find more information about surge energy?

SOURCE Surge Energy Inc. For further information: For further information, please visit our website at or contact: Paul Colborne, President & CEO, (403) 930-1507, [email protected]; Jared Ducs, Chief Financial Officer, (403) 930-1046, [email protected]

What does surge expect from a non-core transaction?

Proceeds from the Transaction bring forward approximately 10 years of future undiscounted free cash flow that the Non-Core Assets would have generated. At current strip crude oil prices, Surge anticipates allocating the net proceeds from the Transaction to additional share buy backs, and further reductions of net debt.

Did surge buy Hope Valley Sparky?

As part of the May 29, 2024 Alberta Crown sale, Surge strategically acquired 7.0 net sections of prospective land on the Hope Valley Sparky play trend. The Company has now drilled 3 successful multi-leg oil wells in Hope Valley, which has established it as an exciting new crude oil discovery in the Sparky formation.

Why should you invest in surge?

Focus on high return strategic opportunities to maximize free cash flow and shareholder returns, and enhance liquidity Continued focus on abandonment program to reduce corporate decommissioning liability Surge offers exposure to two of the top five conventional oil growth plays in Canada: the Sparky & SE Saskatchewan.