Surge Energy Inc.

Surge Energy Inc. and Astra Oil Corp. announce that they have entered into an arrangement agreement , pursuant to which Surge has agreed to acquire all of the issued and outstanding common shares of Astra by way of a statutory arrangement for total consideration of approximately $160 million. The Transaction is to be funded by the issuance of Surge common shares , and the assumption of approximately $15 million of net [...]

Surge Energy US Holdings Company announces the use of dual fuel completions on a multi-well, multi-zone pad in its Moss Creek field. Surge Energy recently completed a multi-zone, 10 well project in the Company's Moss Creek field in Howard County. Within this project, the Company completed a five-well pad with a compressed natural gas and diesel dual fuel system which yielded a GHG emissions reduction of approximately 845 [...]

Surge Energy Inc. is pleased to announce its financial and operating results for the quarter ended March 31, 2021. MACRO OVERVIEW - Pre-COVID-19, world oil demand was more than 100 million barrels per day; growing by approximately one million barrels per day each year. Without significant capital investment, world oil production has been estimated to have an annual decline of 5-6 million barrels per day. The COVID-19 [...]

Surge Energy Inc. is pleased to announce it has closed the previously announced bought deal public offering of flow-through common shares . Surge is also pleased to announce that its first lien credit facilities have been extended through to July 1, 2022. Additionally, the Company is announcing 2021 production exit guidance and preliminary 2022 capital and operating guidance. EQUITY FINANCING CLOSED Surge has completed [...]

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 [...]