Surge Energy Inc.

Surge Energy Inc. confirms that a cash dividend to be paid on April 17, 2023, in respect of March 2023 production, for the shareholders of record on March 31, 2023 will be $0.04 per share. The dividend is an eligible dividend for the purposes of the Income Tax Act . Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The Company's defined [...]

Surge Energy US Holdings Company today announced the Company's two outstanding issuances of Senior Notes outperformed the overall High Yield Bond Market in both 2021 and 2022. The Company's two bond issuances, Senior Notes due 2026 and Senior Notes due 2027, delivered total returns of approximately 31% and 36% respectively in 2021 and 3% and 5% in 2022. Both bonds delivered a total return in 2021 and 2022 substantially [...]

Surge Energy Inc. is pleased to announce its financial and operating results for the quarter and year ended December 31, 2022; its year end 2022 reserves as independently evaluated by Sproule Associates Limited ; and a new Total Proven Plus Probable net asset value1 of $22.37 per share. Surge's new year end 2022 Proved Developed Producing NAV1 per share increased 107 percent from $3.51 per share on December 31, 2021, to [...]

Surge Energy US Holdings Company announces it has recently added incremental acreage to the Company's portfolio. Additionally, earlier this month the company finalized the previously announced move of its corporate office. In 2022 and early 2023 the Company closed several bolt-on acreage transactions that totaled approximately 6,000 net acres. These transactions provide the Company with the opportunity to extend [...]

Surge Energy Inc. confirms that a cash dividend to be paid on March 15, 2023, in respect of February 2023 production, for the shareholders of record on February 28, 2023 will be $0.04 per share. The dividend is an eligible dividend for the purposes of the Income Tax Act . Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The Company's defined [...]

Surge Energy US Holdings Company announces it has conserved over 100 million barrels, or 4.2 billion gallons, from the inception of using recycled produced water for completion operations in 2017. The practice of using recycled produced water for completion operations both conserves fresh water and reduces operating expenses. The company currently uses recycled produced water in 100% of well completions. Further [...]

Surge Energy Inc. confirms that a cash dividend to be paid on February 15, 2023, in respect of January 2023 production, for the shareholders of record on January 31, 2023 will be $0.04 per share. The $0.04 per share dividend represents a 14 percent increase in the Company's dividend, from $0.42 per share per year to $0.48 per share per year . The dividend is an eligible dividend for the purposes of the Income Tax Act [...]

Surge Energy US Holdings Company announces it has commissioned the Phoenix electrical substation, the Company's second electrical substation. The company's first electrical substation, the Dragon substation was commissioned in January 2020. This reduced the need for over forty well-site generators which significantly reduced both costs and GHG emissions. The Company estimates the removal of generators has resulted in a [...]

Surge Energy Inc. is pleased to announce today that it has closed the previously announced acquisition of long life, low decline, crude oil assets in Surge's Sparky and SE Saskatchewan core areas, for a net purchase price of $202 million. The Assets are currently producing more than 3,850 boepd of predominantly light and medium gravity crude oil. The Acquisition is 15 percent accretive to Surge's 2023 free cash flow per [...]

Surge Energy Inc. confirms that a cash dividend to be paid on January 16, 2023, in respect of December 2022 production, for the shareholders of record on December 31, 2022 will be $0.035 per share. The dividend is an eligible dividend for the purposes of the Income Tax Act . Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The Company's [...]