CALGARY, April 16, 2018 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on May 15, 2018 in respect of April 2018 production, for the shareholders of record on April 30, 2018, will be $0.007917 per share.

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

Surge Energy Inc. is an oil-weighted production and development company with high quality, large oil in place, crude oil reservoirs. Management is focused on delivering to its shareholders solid per share organic growth, sustainable … Continue Reading

CALGARY, March 15, 2018 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on April 16, 2018 in respect of March 2018 production, for the shareholders of record on March 31, 2018 will be $0.007917 per share. 

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

Surge Energy Inc. is an oil-weighted production and development company with high quality, large oil in place, crude oil reservoirs.  Management is focused on delivering to its shareholders solid per share organic growth, sustainable monthly … Continue Reading

CALGARY, March 14, 2018 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) announces its operating and financial results for the quarter ended December 31, 2017.

In Q4 2017 Surge’s average daily production of 15,675 boepd (81 percent oil and NGL’s) came in above the Company’s budget projections. The Company also exceeded management’s 2017 production exit rate target of 15,850 boepd. Surge has now increased production per share by more than 22 percent over the last six financial quarters, and revised upward production guidance four times (two times organically, and twice pursuant to accretive acquisitions in … Continue Reading

CALGARY, Feb. 20, 2018 /CNW/ – Surge Energy Inc. (“Surge” or the “Company“) (TSX: SGY) is pleased to announce that the Toronto Stock Exchange (the “TSX“) has accepted Surge’s notice of intention to make a normal course issuer bid for its outstanding common shares in accordance with the rules and policies of the TSX.

Surge believes that the market price of its common shares, in today’s current oil price environment, does not accurately reflect their underlying value, making the purchase of common shares an attractive investment and an advantageous use of Surge’s capital spending.  Surge’s new independently engineered total … Continue Reading

CALGARY, Feb. 15, 2018 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on March 15, 2018 in respect of February 2018 production, for the shareholders of record on February 28, 2018 will be $0.007917 per share. 

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

Surge Energy Inc. is an oil-weighted production and development company with high quality, large oil in place, crude oil reservoirs.  Management is focused on delivering to its shareholders solid per share organic growth, sustainable monthly … Continue Reading

CALGARY, Feb. 13, 2018 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) announced the results of its independent reserves evaluation (the “Sproule Report”) effective December 31, 2017, as prepared by Sproule Associates Limited (“Sproule”). 

Surge is pleased to announce an increase in the Company’s year-end 2017 net asset value (“NAV”) of more than 10 percent per share over 2016, to $6.06 per share. Sproule’s 2017 year end price forecast has 2018 WTI crude oil prices below current average strip pricing for 2018.

The Company also reported that its 2017 capital expenditure program resulted in an increase of … Continue Reading

CALGARY, Jan. 15, 2018 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on February 15, 2018 in respect of January 2018 production, for the shareholders of record on January 31, 2018 will be $0.007917 per share.

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

Surge Energy Inc. is an oil-weighted production and development company with high quality, large oil in place, crude oil reservoirs.  Management is focused on delivering to its shareholders solid per share organic growth, sustainable monthly … Continue Reading

CALGARY, Dec. 15, 2017 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on January 15, 2018 in respect of December 2017 production, for the shareholders of record on December 31, 2017 will be $0.007917 per share. 

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

Surge Energy Inc. is an oil-weighted production and development company with high quality, large oil in place, crude oil reservoirs.  Management is focused on delivering to its shareholders solid per share organic growth, sustainable monthly … Continue Reading

CALGARY, Dec. 13, 2017 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) announces that its Board of Directors has formally approved Surge’s 2018 capital expenditure and production guidance.

APPROVED GUIDANCE FOR 2018; CAPITAL EXPENDITURE BREAKDOWN

Pursuant to a Press Release dated October 26, 2017, Surge provided preliminary capital expenditure and production guidance for 2018.

In 2018 Surge now anticipates spending $98.75 million of total capital, broken down as follows:

Capital Category

Amount

Drill & Complete, Tie-in

$68.75 million

Waterflood

$4 million

Facilities

$9 million

Workovers

$7 million

Land, Capitalized G&A, other

$10 million

Total

$98.75 … Continue Reading

CALGARY, Nov. 15, 2017 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce that it has closed its previously announced Convertible Debenture Financing (the “Financing”) agreement with a syndicate of Underwriters, led by NBF, pursuant to which the Underwriters purchased $44.5 million principal amount of Debentures at a price of $1,000 per Debenture, on a “bought deal” basis. (the “Closing”). The Company granted to the Underwriters an option (the “Over-Allotment Option”) to purchase up to an additional 4,500 Debentures at a price of $1,000 per Debenture, which the Underwriters exercised in full.

The … Continue Reading

CALGARY, Nov. 15, 2017 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on December 15, 2017 in respect of November 2017 production, for the shareholders of record on November 30, 2017 will be $0.007917 per share. 

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

Surge Energy Inc. is an oil-weighted production and development company with high quality, large oil in place, crude oil reservoirs.  Management is focused on delivering to its shareholders solid per share organic growth, sustainable monthly … Continue Reading

CALGARY, Nov. 7, 2017 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) announces its operating and financial results for the quarter ended September 30, 2017.

Surge’s low risk, development drilling and waterflood results at the Company’s Sparky, Shaunavon and Valhalla core areas continue to exceed managements budgeted expectations. Production averaged 15,007 boepd in Q3 2017 – approximately two percent above budget – with only a small contribution from Surge’s recently announced Sparky acquisition (please refer to Surge’s October 26, 2017 Press Release).

Surge has now revised upward production guidance four times in the last 17 … Continue Reading