CALGARY, AB, Sept. 22, 2022 /CNW/ – Surge Energy Inc. (“Surge”, “SGY”, or the “Company”) (TSX: SGY) is pleased to announce that it is issuing a notice of redemption to holders of its currently outstanding $44,500,000 5.75% Convertible Unsecured Subordinated Debentures due December 31, 2022 (the “Debentures”). The  Debentures are not subject to a pre-payment penalty.

As set out in the notice of redemption, Surge will redeem, as of October 28, 2022 (“Redemption Date”), all of the aggregate principal amount of the Debentures for cash. On the Redemption Date, Surge will pay the aggregate principal amount of the Debentures … Continue Reading

CALGARY, AB, Sept. 15, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on October 17, 2022, in respect of September 2022 production, for the shareholders of record on September 30, 2022 will be $0.035 per share.

The dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).

Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The Company’s defined operating strategy is based on acquiring and developing high-quality, conventional oil reservoirs … Continue Reading

CALGARY, AB, Aug. 15, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on September 15, 2022, in respect of August 2022 production, for the shareholders of record on August 31, 2022 will be $0.035 per share. 

The dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).

Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The Company’s defined operating strategy is based on acquiring and developing high-quality, conventional oil reservoirs … Continue Reading

 CALGARY, AB, July 27, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce the Company’s financial and operating results for the quarter ended June 30, 2022, an update on Surge’s shareholder returns framework, an operations update, and revisions to the Company’s 2022 capital and operating budget.

An extremely tight physical market for crude oil has manifested from continued growth in demand, supply disruptions stemming from years of global underinvestment in oil projects, and ongoing geopolitical tensions. These factors have led to a favourable commodity pricing … Continue Reading

CALGARY, AB, July 15, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on August 15, 2022 in respect of July 2022 production, for the shareholders of record on July 31, 2022 will be $0.035 per share.

The dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).

Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The Company’s defined operating strategy is based on acquiring and developing high-quality, conventional oil reservoirs using … Continue Reading

CALGARY, AB, June 15, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce that the Board of Directors has approved the reinstatement of its monthly cash dividend, as part of the Company’s previously announced integrated business strategy of returning capital to shareholders, plus production per share growth. Accordingly, a cash dividend of $0.035 per share will be payable on July 15, 2022 in respect of June 2022 production, for the Surge shareholders of record on June 30, 2022.

The dividend is designated as an eligible dividend for the purposes of the … Continue Reading

CALGARY, AB, May 11, 2022 /CNW/ – Surge Energy Inc. (the “Company” or “Surge”) (TSX: SGY) announces that at its annual meeting of shareholders held on May 11, 2022 the following nine director nominees were elected:

Votes For

Votes Withheld

#

%

#

%

James Pasieka

Marion Burnyeat

21,918,661

21,798,272

99.50%

98.95%

110,772

231,161

    0.50%

    1.05%

Paul Colborne

Daryl Gilbert

Michelle Gramatke

21,907,972

21,786,277

21,770,858

99.45%

98.90%

98.83%

121,461

243,156

258,575

0.55%

1.10%

1.17%

Robert Leach

Allison Maher

21,931,689

21,834,760

99.56%

99.12%

97,744

194,673

0.44%

0.88%

P. Daniel O’Neil

21,741,473

98.69%

287,960

1.31%

Murray Smith

21,406,426

97.17%

623,007

2.83%… Continue Reading

CALGARY, AB, May 5, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce: 1) the intent to reinstitute the Company’s base dividend on July 15, 2022;  2) the successful acquisition of strategic, core area lands in SE Saskatchewan at a recent Crown sale;  3) the receipt of an additional $30 million of term debt financing under the same terms and conditions as its existing 5-year term debt facility (the “Term Debt Facility”);  4) the intent to redeem the Company’s $44.5 million of 5.75% convertible debentures for cash;  5) the reconfirmation and … Continue Reading

CALGARY, AB, March 9, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its financial and operating results for the quarter and year ended December 31, 2021, its year end 2021 reserves as independently evaluated by Sproule Associates Limited (“Sproule”), and a new net asset value (“NAV”) of $16.94 per share for Total Proven Plus Probable reserves.

The financial and operating results contained herein do not include a full quarter of contribution from Surge’s strategic $58.8 million light oil acquisition of Fire Sky Energy Inc. (“Fire Sky”), which closed on November … Continue Reading

CALGARY, AB, Jan. 17, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its 2022 budget guidance, as approved by the Company’s Board of Directors, an update on Surge’s anticipated reinstatement of Management’s shareholder returns focused business model, and an operations update.

2022 BUDGET GUIDANCE – CONTINUED FOCUS ON SHAREHOLDER RETURNS & SUSTAINABILITY

Surge’s focus in 2022 continues to be on disciplined capital allocation, with cash flow strategically allocated between capital projects, net debt1 repayment, and a fundamental goal of reinstating the Company’s dividend and shareholder returns focused business model. The Company’s … Continue Reading

CALGARY, AB, Dec. 21, 2021 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce that it has published its inaugural Sustainability Report.

INAUGURAL SUSTAINABILITY REPORT 

Surge is pleased to present its inaugural Sustainability Report, outlining the Company’s progress on environmental, social and governance (“ESG”) practices and their impact on Surge’s business and operating strategy. This Sustainability Report reaffirms the Company’s commitment to be a leader in reducing the impact of oil and gas operations on the environment.

SUSTAINABILITY REPORT HIGHLIGHTS

CALGARY, AB, Dec. 9, 2021 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce that it has closed a $130 million 5-year term debt facility (the “Term Debt Facility”) and a new normal course $150 million first lien credit facility with a revised syndicate of five lenders (the “First Lien Credit Facility”). Concurrent with the closing of the Term Debt Facility and First Lien Credit Facility, the Company has repaid its $42 million, non-revolving BDC term loan (the “BDC Term Facility”).

NEW 5-YEAR TERM DEBT FACILITY

On December 9, 2021 Surge closed … Continue Reading