Surge Energy Inc.

Surge Energy Inc. announces that at its annual meeting of shareholders held on May 12, 2021 the following nine director nominees were elected: Votes For Votes Withheld # % # % James Pasieka Marion Burnyeat 83,900,344 83,817,897 98.29% 98.20% 1,457,797 1,540,244 1.71% 1.80% Paul Colborne Daryl Gilbert Michelle Gramatke 83,343,340 83,542,034 83,574,874 97.64% 97.87% 97.91% 2,014,801 1,816,107 1,783,267 2.36% 2.13% 2.09 [...]

Surge Energy Inc. is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters, led by Cormark Securities Inc. and National Bank Financial Inc. , to increase the size of its previously announced bought deal public offering of flow-through common shares. The Company will now issue 33,900,000 common shares of Surge, to be issued as "flow-through shares" with respect to [...]

Surge Energy Inc. is pleased to announce that it has entered into an agreement with a syndicate of underwriters, led by Cormark Securities Inc. and National Bank Financial Inc. , pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis, 25,425,000 common shares of Surge to be issued as "flow-through shares" with respect to "Canadian development expenses" within the meaning of the Income Tax Act [...]

HOUSTON, April 1, 2021 /PRNewswire/ -- Surge Energy US Holdings Company announced in the US that it, through its subsidiary, has completed the previously announced acquisition of leasehold interest and producing wells from Grenadier Energy Partners II LLC in Howard County, TX . The aggregate purchase price of the Transaction was approximately $420 million USD. About Surge Energy Surge Energy US Holdings Company is an [...]

Surge Energy Inc. is pleased to announce it has successfully completed its previously announced strategic $106 million asset sale , and finalized a positive re-determination of the Company's credit facilities. ACCRETIVE ASSET SALE COMPLETED Surge has now closed its previously announced strategic Sale, providing a significant, immediate, positive impact on the Company's balance sheet. As a result of the Sale transaction [...]

Surge Energy Inc. is pleased to announce its financial and operating results for the quarter and year ended December 31, 2020, and its year-end 2020 reserves, as independently evaluated by Sproule Associates Limited . 2020 Achieved an all-in payout ratio1 of less than 100 percent for 2020 while oil averaged less than US$40 WTI per barrel, generating cash flow from operating activities less payments on lease obligations of [...]

Surge Energy Inc. is pleased to announce its successful 32 well 1H/21 drilling program, a strategic $106 million asset sale , and a positive re-determination of its first lien and second lien credit facilities. SURGE ENERGY - Very Positive Macro Environment for Canadian Crude Oil 2020 was an extremely difficult year for the Canadian oil and gas industry managing through the COVID crisis, and the Saudi-Russia oil price [...]

Surge Energy US Holdings Company announced in the US that it, through its subsidiary, has signed a purchase and sale agreement to acquire leasehold interest and producing wells from Grenadier Energy Partners II LLC in Howard County, TX . The aggregate purchase price of the Transaction is expected to be approximately $420 million USD. Highlights of the acquired assets include: Average production of approximately 9,000 [...]

Surge Energy Inc. is pleased to announce its 2021 budget guidance, as approved by the Company's Board of Directors, as well as an update on Surge's ongoing Environmental, Social and Governance program. 2021 BUDGET - CONTINUED FOCUS ON SUSTAINABILITY Surge's focus in 2021 continues to be on disciplined capital allocation, with cash flow strategically allocated between capital projects, net bank debt1 repayment, and the [...]

Surge Energy Inc. is pleased to announce that it has executed definitive agreements with the Business Development Bank of Canada, in partnership with the Company's syndicate of lenders, for a non-revolving facility of $40 million, providing attractive interest rates over a four year term. Surge is also pleased to announce that it has closed an extension of the Company's existing $335 million first-lien credit facility [...]