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Surge Energy Inc (SGY.TO)

SGY.TO on Toronto Stock Exchange

1.25CAD
19 Jul 2019
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Latest Key Developments (Source: Significant Developments)

Surge Energy Inc - Q4 Quarterly Average Production Of 21,047 Boepd Increased By 17% As Compared To Q3 Production Of 18,029 Boepd
Wednesday, 13 Mar 2019 

March 12 (Reuters) - Surge Energy Inc ::SURGE ENERGY INC - SURGE'S Q4 QUARTERLY AVERAGE PRODUCTION OF 21,047 BOEPD INCREASED BY MORE THAN 34% VERSUS PRODUCTION OF 15,675 BOEPD LAST YEAR.SURGE ENERGY INC - Q4 QUARTERLY AVERAGE PRODUCTION OF 21,047 BOEPD INCREASED BY 17% AS COMPARED TO Q3 PRODUCTION OF 18,029 BOEPD.SURGE ENERGY INC - QTRLY AFFO EARNINGS PER SHARE (BASIC) $0.02.SURGE ENERGY INC - QTRLY TOTAL OIL, NATURAL GAS, AND NGL REVENUE $58.1 MILLION VERSUS $69.3 MILLION LAST YEAR.  Full Article

Surge Energy Announces 2018 Preliminary Results, 2019 Activity Guidance And Management Transition
Wednesday, 13 Feb 2019 

Feb 13 (Reuters) - Surge Energy Inc ::SURGE ENERGY ANNOUNCES 2018 PRELIMINARY RESULTS, 2019 ACTIVITY GUIDANCE AND MANAGEMENT TRANSITION.SURGE ENERGY INC - Q4 2018 PRODUCTION OF 43.2 MBOE/D (91% OIL), UP 38% VERSUS Q4 2017.SURGE ENERGY INC - LINHUA GUAN HAS BEEN NAMED CHIEF EXECUTIVE OFFICER, EFFECTIVE MAY 1, 2019.SURGE ENERGY INC - HAS REDUCED DEVELOPMENT ACTIVITY IN 2019 WHILE STILL PROJECTING YEAR-OVER-YEAR PRODUCTION GROWTH.SURGE ENERGY INC - DEXTER BURLEIGH WILL REMAIN WITH COMPANY IN ROLE OF PRESIDENT.SURGE ENERGY INC - REDUCED DEVELOPMENT ACTIVITY IN 2019 IN RESPONSE TO MACRO COMMODITY PRICE VOLATILITY.SURGE ENERGY - BEGUN REDUCING OPERATED RIG ACTIVITY FROM 2018 EXIT RATE LEVEL OF SIX RIGS TO OPERATED RIG COUNT OF THREE RIGS BY END OF Q1 OR EARLY Q2.SURGE ENERGY INC - IF COMMODITY MARKETS IMPROVE AND RIG ACTIVITY IS INCREASED IN 2H 2019, COMPANY EXPECTS TO DRILL BETWEEN 80 - 85 GROSS OPERATED WELLS.SURGE ENERGY INC - IF COMMODITY MARKETS IMPROVE & RIG ACTIVITY RISES IN H2, SEES CAPEX $680-$720 MILLION & PRODUCTION GROWTH OF 10%-15% IN 2019.SURGE ENERGY INC - IF COMMODITY MARKETS DO NOT IMPROVE & RIG ACTIVITY IS HELD FLAT IN 2H 2019, EXPECTS TO DRILL BETWEEN 55 - 60 GROSS OPERATED WELLS.SURGE ENERGY INC - IN PROCESS OF REDUCING RIG COUNT TO THREE.SURGE ENERGY - IF COMMODITY MARKETS DON'T IMPROVE & RIG ACTIVITY HELD FLAT IN H2, SEES CAPEX OF $525 - $550 MILLION & PRODUCTION GROWTH OF 5%-8% IN 2019.  Full Article

Surge Energy Quarterly Average Production increases over 20 pct
Wednesday, 7 Nov 2018 

Nov 6 (Reuters) - Surge Energy Inc ::INC. ANNOUNCES THIRD QUARTER 2018 RESULTS; AVERAGE Q3 PRODUCTION EXCEEDS 2018 EXIT RATE GUIDANCE; ADJUSTED FUNDS FLOW PER SHARE UP 80 PERCENT OVER Q3/17.SURGE'S Q3/18 QUARTERLY AVERAGE PRODUCTION OF 18,029 BOEPD (79 PERCENT OIL AND LIQUIDS) INCREASED BY MORE THAN 20 PERCENT OVER.ADJUSTED FUNDS FLOW IN Q3/18 WAS $40.6 MILLION ($0.18 PER SHARE).Q3 OPERATING NETBACK PER BOE INCREASED BY 40 PERCENT, TO $28.75 PER BOE IN Q3/18, FROM $20.59 PER BOE IN Q3/17..SAYS BUDGETED CAPITAL EXPENDITURES FOR 2018 HAVE NOW BEEN INCREASED FROM $107 MILLION TO $117 MILLION.ANTICIPATES ADDITIONAL SAWN WELLS WILL COME ON PRODUCTION IN EARLY JANUARY 2019..BOARD ANALYZING IF SHOULD DEFER SOME PORTION OR ALL OF ANTICIPATED DIVIDEND INCREASE FROM $0.10 PER SHARE TO $0.125 PER SHARE,.ANTICIPATES CONFIRMING 2019 GUIDANCE IN EARLY JANUARY, 2019..  Full Article

Surge Energy Announces Closing Of Accretive $320 Mln Light Oil Acquisition
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Surge Energy Inc ::SURGE ENERGY INC. ANNOUNCES CLOSING OF ACCRETIVE $320 MILLION LIGHT OIL ACQUISITION; $200 MILLION INCREASE TO CREDIT FACILITY; ANTICIPATED DIVIDEND INCREASE; Q3/18 PRODUCTION EXCEEDS 2018 EXIT RATE.SURGE ENERGY INC - REVOLVING CREDIT FACILITY WAS INCREASED BY 57 PERCENT FROM $350 MILLION TO $550 MILLION..SURGE ENERGY INC - Q3/18 PRODUCTION EXCEEDS 2018 EXIT RATE.SURGE ENERGY INC - Q3/18 PRODUCTION AVERAGED 18,029 BOEPD (79 PERCENT OIL AND LIQUIDS).  Full Article

Surge Energy Inc - Adjusted Funds Flow Per Share In Q2/18 Was $0.167
Wednesday, 8 Aug 2018 

Surge Energy Inc ::SURGE ENERGY INC. ANNOUNCES SECOND QUARTER 2018 RESULTS; CURRENT PRODUCTION EXCEEDS 2018 EXIT RATE; ADJUSTED FUNDS FLOW PER SHARE UP 38 PERCENT OVER Q1/18.SURGE ENERGY INC - IN Q2/18 SURGE'S PRODUCTION AVERAGED 17,072 BOEPD.SURGE ENERGY INC - ADJUSTED FUNDS FLOW PER SHARE IN Q2/18 WAS $0.167.  Full Article

Surge Energy Announces $28.4 Mln Sparky Core Area Acquisition
Tuesday, 15 May 2018 

May 15 (Reuters) - Surge Energy Inc ::SURGE ENERGY INC. ANNOUNCES $28.4 MILLION SPARKY CORE AREA ACQUISITION; UPWARD REVISION TO 2018 EXIT GUIDANCE; INCREASE TO DIVIDEND.SURGE ENERGY INC - REVISING UPWARD COMPANY'S 2018 EXIT PRODUCTION GUIDANCE FROM 16,650 BOEPD TO 17,175 BOEPD.SURGE ENERGY INC - SPARKY CORE AREA ACQUISITION ACCRETIVE ON ALL KEY DEBT ADJUSTED PER SHARE METRICS.  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