Surge Energy Inc.

Surge Energy Inc. is pleased to announce the closing of the previously announced upsized, bought-deal equity financing of 7,568,000 common shares of Surge at a price of $9.25 per Common Share, for gross proceeds of approximately $70.0 million. The Company has also granted to the Underwriters an over-allotment option to purchase 1,135,200 additional Common Shares, representing 15% of the size of the Financing. The [...]

Surge Energy Inc. confirms that a cash dividend to be paid on December 15, 2022, in respect of November 2022 production, for the shareholders of record on November 30, 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 [...]

Surge Energy Inc. is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank Financial Inc. and Peters & Co. Limited to increase the size of its previously announced bought-deal financing . Surge will now issue 7,568,000 common shares at a price of $9.25 per Common Share to raise aggregate gross proceeds of $70,004,000 pursuant to the Offering. The [...]

Surge Energy Inc. is pleased to announce that it has entered into a definitive purchase and sale agreement with Enerplus Corporation pursuant to which Surge has agreed to acquire from Enerplus long life, operated, high operating netback1, waterflooded producing oil assets focused entirely within Surge's Sparky and SE Saskatchewan core areas. Surge has agreed to purchase the Assets for gross proceeds of $245 million with [...]

Surge Energy Inc. is pleased to announce the Company's financial and operating results for the quarter ended September 30, 2022, and an update on Surge's latest drilling results. Q3 2022 FINANCIAL & OPERATING HIGHLIGHTS Surge's Board and Management continue to be optimistic on the outlook for crude oil prices, based on a historically tight physical market, ongoing geopolitical issues, and the significant underinvestment [...]

Surge Energy US Holdings Company announces a full repayment in October of the Company's revolving credit facility . The primary usage of the outstanding debt on the Credit Facility was for two acquisitions in 2021 that resulted in increased acreage of approximately 22,000 acres, added over 100 drilling locations, added cash flow generating production, and increased the Company's scope and scale. The total acquisition [...]

Surge Energy US Holdings Company today announced the release of the Company's 2022 Corporate Sustainability Report. This report is the Company's third annual report, and its first report made publicly available to all stakeholders, which provides a comprehensive overview of Surge's sustainability performance in 2021 as well as significant progress made on relevant environmental, social, and governance initiatives. "I am [...]

Surge Energy Inc. confirms that a cash dividend to be paid on November 15, 2022, in respect of October 2022 production, for the shareholders of record on October 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 [...]

Surge Energy US Holdings Company announces the Company has been recently recognized as an honoree for the Houston Business Journal's 2022 Innovation Awards. The list of honorees for this award was announced by Houston Business Journal on August 3, 2022 and is featured in a special section of the Houston Business Journal's September 23rd edition. Surge Energy's consideration for the award was based on a recent initiative [...]

Surge Energy US Holdings Company announces an increased borrowing base from $1.5 billion to $1.75 billion on the Company's revolving credit facility . The increase is in connection with the Credit Facility's regularly scheduled semi-annual redetermination that recently closed. Elected commitments remained unchanged at $935 million. "Surge appreciates the continued support from our bank group," stated Chief Financial [...]