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Surge Energy Inc (SGY.TO)

SGY.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Surge Energy Inc. Confirms January 2019 Dividend
Tuesday, 15 Jan 2019 

Jan 15 (Reuters) - Surge Energy Inc ::SURGE ENERGY INC. CONFIRMS JANUARY 2019 DIVIDEND.  Full Article

Surge Energy Reduces Prelim 2019 Capital Budget From $160 Mln To $135 Mln
Monday, 14 Jan 2019 

Jan 14 (Reuters) - Surge Energy Inc ::SURGE ENERGY INC. ANNOUNCES 2019 CAPITAL BUDGET AND PRODUCTION GUIDANCE.SURGE ENERGY INC - SURGE HAS REDUCED ITS PREVIOUSLY-ANNOUNCED PRELIMINARY 2019 CAPITAL BUDGET FROM $160 MILLION TO $135 MILLION.SURGE ENERGY - EXPECTS TO DELIVER MORE THAN 20 PERCENT GROWTH IN AVERAGE PRODUCTION OVER 2018, WITH AN AVERAGE PRODUCTION RATE OF 22,000 BOEPD FOR 2019.SURGE ENERGY - 2H 2019 CAPITAL SPENDING FORECAST HAS FLEXIBILITY TO BE INCREASED BY ADDITIONAL $25 MILLION OF EXPLORATION AND DEVELOPMENT CAPITAL.  Full Article

Surge Energy Announces Accretive $320 Mln Core Area Light Oil Acquisition
Thursday, 6 Sep 2018 

Sept 5 (Reuters) - Surge Energy Inc ::ANNOUNCES ACCRETIVE $320 MILLION CORE AREA LIGHT OIL ACQUISITION.TRANSACTION IS 11 PERCENT ACCRETIVE TO SURGE'S FORECAST 2019 ADJUSTED FUNDS FLOW PER SHARE.CO AND MOUNT BASTION OIL AND GAS CORP ENTERED INTO AN ARRANGEMENT AGREEMENT.SEES INCREASING DIVIDEND BY 25 PERCENT, TO $0.125 A SHARE ANNUALLY ($0.0104 A MONTH), WHILE IMPROVING CO'S ALL-IN PAYOUT RATIO FROM 89 PERCENT TO 87 PERCENT.PURSUANT TO ARRANGEMENT AGREEMENT VO AGREED TO ACQUIRE ALL OF ISSUED AND OUTSTANDING COMMON SHARES OF MBOG BY STATUTORY ARRANGEMENT.AGGREGATE CONSIDERATION TO BE PAID TO HOLDERS OF MBOG SHARES WILL BE $145 MILLION IN CASH AND 75,431,034 SURGE SHARES.UPON COMPLETION OF TRANSACTION, SURGE'S PROJECTED 2018 PRODUCTION EXIT RATE IS NOW EXPECTED TO INCREASE TO MORE THAN 22,500 BOEPD.TRANSACTION INCREASES CO'S DECEMBER 31, 2017 INDEPENDENTLY ENGINEERED NET ASSET VALUE (SPROULE) FROM $6.06 PER SHARE TO AN ESTIMATED $6.52 PER SHARE.COMPANY ESTIMATES THAT Q4 2019 NET DEBT TO ANNUALIZED ADJUSTED FUNDS FLOW RATIO WILL BE 1.62 TIMES.AGGREGATE PURCHASE PRICE PAYABLE BY SURGE UNDER TRANSACTION WILL BE $320 MILLION.  Full Article

Surge Energy Inc. Announces Qtrly ‍AFFO $0.14 Per Share​
Wednesday, 14 Mar 2018 

March 14 (Reuters) - Surge Energy Inc ::SURGE ENERGY INC. ANNOUNCES FOURTH QUARTER AND 2017 YEAR END RESULTS; EXCEEDS 2017 PRODUCTION EXIT RATE TARGET; INCREASED ADJUSTED FUNDS FLOW PER SHARE BY 40 PERCENT.SURGE ENERGY INC QTRLY ‍AFFO $0.14 PER SHARE​.SURGE ENERGY INC - ‍INCREASED OIL AND NGL PRODUCTION OVER 23 PERCENT FROM 10,336 BARRELS PER DAY IN Q4 2016 TO 12,740 BARRELS PER DAY IN Q4 2017​.  Full Article

Surge Energy Announces Pricing Of $700 Mln Of Its 7.5 Pct Senior Notes
Friday, 12 Jan 2018 

Jan 12 (Reuters) - Surge Energy Inc ::SURGE ENERGY ANNOUNCES PRICING OF $700.0 MILLION OF ITS 7.500% SENIOR NOTES DUE 2026.  Full Article

Surge Energy Says Anticipates Spending $98.75 Mln Of Total Capital In 2018
Thursday, 14 Dec 2017 

Dec 13 (Reuters) - Surge Energy Inc ::SURGE ENERGY INC. ANNOUNCES 2018 GUIDANCE.SURGE ENERGY INC - IN 2018 SURGE ANTICIPATES SPENDING $98.75 MILLION OF TOTAL CAPITAL.SURGE ENERGY - SURGE'S 2018 GUIDANCE PROVIDES ADJUSTED FUNDS FLOW PER SHARE GROWTH OF 26 PERCENT OVER 2017 ESTIMATES.  Full Article

Surge Energy Inc. announces third quarter 2017 results
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Surge Energy Inc :Surge Energy Inc. announces third quarter 2017 results.Surge Energy Inc - ‍increased oil production 16 percent from 9,807 barrels per day in Q3 2016 to 11,380 barrels per day in Q3 2017​.Surge Energy Inc qtrly ‍adj FFO per share $0.10​.Surge Energy - ‍will now be delivering production per share growth of over 24 percent from Q2 2016 to end of Q4 2017​.  Full Article

Surge energy announces $37.2 million Sparky Core Area acquisition
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Surge Energy Inc :Surge Energy Inc. announces $37.2 million sparky core area acquisition; $40 million convertible debenture financing; upward revision to 2017 exit guidance; 2018 preliminary guidance.Surge Energy Inc - ‍acquisition is accretive to surge on all key per share metrics​.Surge Energy Inc - ‍revising upward company's 2017 exit production guidance from 15,150 boepd to 15,850 boepd​.Surge Energy Inc - ‍now projecting that production in 2018 will average more than 16,150 boepd, with a 2018 production exit rate of 16,650 boepd​.Surge Energy Inc - ‍budgeted capital expenditures for 2017 have now been increased from $89 million to $95 million​.  Full Article

Surge Energy qtrly adj funds from operations $0.124/shr
Wednesday, 2 Aug 2017 

Aug 2 (Reuters) - Surge Energy Inc ::Surge Energy Inc. Announces second quarter 2017 results.Surge Energy Inc says increased production 24 percent year over year, from 12,182 boepd in q2/16 to 15,125 boepd in q2/17.Qtrly adjusted funds from operations per share $0.124.  Full Article

Surge Energy Q1 FFO per share c$0.104
Wednesday, 10 May 2017 

May 10 (Reuters) - Surge Energy Inc ::Surge Energy Inc. Announces first quarter 2017 results; increased guidance; and continued per share growth.Q1 FFO per share c$0.104.Surge energy inc says surge's 2017 production exit rate target to 15,150 boepd from 14,450 boepd.Surge energy inc says further upward revision to company's 2017 average daily production estimate to 14,450 boepd.Q1 total production of 13,866 boepd versus 13,408 boepd.Q1 total oil, natural gas, and ngl revenue $54.5 million versus $29.1 million.  Full Article