Surge Energy Inc. is pleased to announce the completion of the previously announced acquisition of Fire Sky Energy Inc. pursuant to an amalgamation under the provisions of The Business Corporations Act . FIRE SKY ACQUISITION CLOSED Surge has been advised by Fire Sky that the amalgamation was approved by 97.6% of the Fire Sky Shares voted at the special meeting of Fire Sky shareholders to approve the Transaction, held on [...]
Surge Energy US Holdings Company announces the completion of an amendment to the existing amended and restated revolving credit facility that, among other things, increases the elected commitments to $860 million and extends the maturity of the facility from April 2023 to October 2025. The amendment to the Company's amended and restated revolving credit facility is effective on October 4, 2021. The facility's total [...]
Surge Energy Inc. and Fire Sky Energy Inc. announce that they have entered into an amalgamation agreement , pursuant to which Surge has agreed to acquire all of the issued and outstanding common shares of Fire Sky by way of a statutory amalgamation for total consideration of approximately $58 million. The Transaction is to be funded by the issuance of approximately 11.2 million Surge common shares , and the assumption of [...]
Winners to be Announced December 9th at a black-tie gala in New York City Surge Energy US Holdings Company has been named a finalist in four categories in the 23rd annual S&P Global Platts Global Energy Awards. The 2021 Finalists were announced on September 23, 2021 by program host S&P Global Platts, the leading global provider of energy and commodities information and spot market benchmarks. Surge Energy was announced as [...]
Surge Energy US Holdings Company announces the Company has been selected as an honoree for the Houston Business Journal's 2021 Innovation Awards. The list of honorees for this award was announced by Houston Business Journal on August 3, 2021 and is featured in a special section of the Houston Business Journal's September 24th edition. Surge Energy's consideration for the award was based on the recent construction of the [...]
Surge Energy US Holdings Company announces J. Phillip Webb has elected to retire from the company effective December 31, 2021. Mr. Webb has served as the Chief Operating Officer since the founding of the company. "I would like to thank Phil for his significant and outstanding contributions to Surge," CEO Linhua Guan said. "Phil's leadership has been instrumental in the success of Surge as well as the development of [...]
Surge Energy US Holdings Company announces being recognized on the Houston Business Journal's 2021 Best Places to Work list for the second consecutive year. The list of finalists for this award was announced by Houston Business Journal on September 2, 2021. On November 4, 2021, the ranking of the finalists will be announced by Houston Business Journal. The Houston Business Journal's Best Places to Work is based on an [...]
Surge Energy US Holdings Company announces top quartile water conservation performance in the Permian Basin per an industry benchmarking survey. Surge Energy recently participated in a benchmarking survey that included freshwater and methane intensity comparisons for 13 operators in the Permian Basin during the years 2019 and 2020. Surge Energy was a top quartile performer during these periods. Freshwater intensity [...]
Surge Energy Inc. is pleased to announce that it has successfully completed the previously announced acquisition of Astra Oil Corp. pursuant to an arrangement under the provisions of the Business Corporations Act. SPECIAL MEETING RESULTS; 95% 93% All the issued and outstanding common shares of Astra were acquired by Surge for aggregate consideration consisting of: 1) the issuance of approximately 229 million common shares [...]
Moss Creek Resources Holdings, Inc. , a wholly owned subsidiary of Surge Energy US Holdings Company, has acquired leasehold interest and wells from Apache Corp. in Howard County, TX . The aggregate purchase price of the Transaction at closing was $37.5 million USD. Highlights of the acquired assets include: Approximately 4,000 net leasehold acres adjacent to existing leasehold position in Howard County Approximately 800 [...]
Surge Energy Inc. is pleased to announce its financial and operating results for the quarter ended June 30, 2021. MESSAGE TO SHAREHOLDERS Improving Macro Environment for Oil Demand for crude oil continues to recover from the dramatic plunge caused by the COVID-19 pandemic in 2020. The recovery, combined with historical reductions in capital spending on world-wide oil projects, has resulted in a very tight physical market [...]
Surge Energy US Holdings Company announces it surpassed 100 million gross barrels of oil equivalent produced since the Company took over operatorship of the Moss Creek asset in 2016 and was listed in Houston Chronicle's Top Private Companies headquartered in Houston, TX as published on June 20, 2021. The company celebrated this significant production milestone earlier this month. The Company's production has benefitted [...]
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