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CALGARY, AB, July 30, 2020 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its financial and operating results for the quarter ended June 30, 2020.

CORPORATE UPDATE – CRUDE PRICE FUNDAMENTALS IMPROVING

1. Managing The Pandemic:

Surge’s management team has an established track record of making proactive capital allocation decisions to protect stakeholder’s capital.

When oil prices were over US $63 WTI in late 2019/early 2020, Surge systematically layered in WTI … Continue Reading

CALGARY, AB, June 22, 2020 /CNW Telbec/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) provides a corporate update, confirmation of a redetermination under the Company’s reserves-based credit facility (the “Credit Facility”), and a technical update in regards to the Company’s Sparky core area.

CORPORATE UPDATE – MACRO ENVIROMENT FOR OIL IMPROVING

In 2019, with US WTI crude oil prices averaging US$57 WTI per bbl, Surge successfully maintained the Company’s annual production (cost effectively), paid its prior dividend (using just 17 percent of the Company’s adjusted funds flow1), and reduced net debt1 by $79 million (adding significantly … Continue Reading

CALGARY, May 12, 2020 /CNW/ – Surge Energy Inc. (the “Company” or “Surge”) (TSX: SGY) announces that at its annual meeting of shareholders held on May 12, 2020 the following nine director nominees were elected:

Votes For

 Votes Withheld

#

%

#

%

James Pasieka

91,165,959

99.09

840,447

0.91

Marion Burnyeat

91,253,716

99.18

752,690

0.82

Paul Colborne

91,490,037

99.44

516,369

0.56

Daryl Gilbert

90,877,077

98.77

1,129,329

1.23

Michelle Gramatke

90,977,763

98.88

1,028,643

1.12

Robert Leach

91,029,674

98.94

976,732

1.06

Allison Maher

91,049,481

98.96

956,925

1.04

P. Daniel O’Neil

91,464.502

99.41

541,904

0.59

Murray Smith

83,634,971

90.90

8,371,435

9.10

In … Continue Reading

*This news release contains multimedia – to view the full PDF version as it is intended, please click here*

CALGARY, May 5, 2020 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its financial and operating results for the quarter ending March 31st, 2020.

Q1/2020 CORPORATE UPDATE – NAVIGATING THE PANDEMIC

Massive crude oil demand destruction from the COVID-19 pandemic, together with increased oil production from OPEC and Russia, contributed to a dramatic decrease in the price of oil in 1H/20. Consequently, Surge’s management and Board acted decisively to protect … Continue Reading

CALGARY, April 30, 2020 /CNW/ – Surge Energy Inc. (“Surge” or the “Company“) (TSX: SGY) announces that the Annual Meeting (the “Meeting“) of the holders of common shares of Surge (Shareholders), scheduled for Tuesday, May 12, 2020 at 3:00p.m. (Calgary time), has been changed from an in-person meeting to a virtual-only meeting to be held electronically at the same time and on the same date. Shareholders will be able to attend the Meeting electronically using a smartphone, tablet or computer but will not be able to attend the Meeting in person.

We have been actively monitoring developments relating … Continue Reading

*This news release contains multimedia – to view the full PDF version as it is intended, please click here*

CALGARY, April 14, 2020 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) provides an operational update.

COVID-19: PROTECTING STAFF, FAMILIES, SERVICE PROVIDERS, STAKEHOLDERS AND THE PUBLIC

In response to the rapidly evolving COVID-19 pandemic, Surge has taken all possible steps to protect its staff, their families, service providers, stakeholders and the general public. Health and safety is our number one priority and we have a dedicated team working on proactive measures to limit COVID-19 from negatively … Continue Reading

CALGARY, March 16, 2020 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on April 15, 2020 in respect of March 2020 production, for the shareholders of record on March 31, 2020 will be $0.000833 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 9, 2020 /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, 2019, and its year-end 2019 reserves, as evaluated by Sproule.

MESSAGE TO THE SHAREHOLDERS

Surge had a solid year in 2019. The Company’s 2019 production averaged 21,175 boepd (84% oil and NGLs), an increase of more than 17 percent as compared to 2018 average production volumes of 18,058 boepd (81% oil and NGLs).

During the year Surge was able to maintain production to within 1.5 percent … Continue Reading

CALGARY, Feb. 17, 2020 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on March 16, 2020 in respect of February 2020 production, for the shareholders of record on February 29, 2020 will be $0.008333 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, Jan. 15, 2020 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on February 17, 2020 in respect of January 2020 production, for the shareholders of record on January 31, 2020 will be $0.008333 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. 16, 2019 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) confirms that a cash dividend to be paid on January 15, 2020 in respect of December 2019 production, for the shareholders of record on December 31, 2019 will be $0.008333 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

*To view the full PDF version as it is intended, please click here*

CALGARY, Dec. 12, 2019 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its budget guidance for 2020 as approved by the Company’s Board of Directors.

2020 BUDGET – DEFENSIVE AND SUSTAINABLE

Surge’s disciplined 2020 capital expenditure budget reaffirms the Company’s commitment to free cash flow generation and debt reduction.

Surge’s Board of Directors has approved a defensive, sustainable budget for 2020 at US $56.50 WTI flat pricing (less than current strip), that:

Delivers production of 21,000 boepd (86

… Continue Reading