CALGARY, Alberta, Nov. 02, 2022 (GLOBE NEWSWIRE) — Surge Energy Inc. (“Surge”, “SGY”, or the “Company”) (TSX: SGY) is pleased to announce that it has entered into a definitive purchase and sale agreement (the “Definitive Agreement”) with Enerplus Corporation (“Enerplus” or “ERF”) pursuant to which Surge has agreed to acquire from Enerplus (the “Acquisition”) long life, operated, high operating netback1, waterflooded producing oil assets focused entirely within Surge’s Sparky and SE Saskatchewan core areas (the “Assets”).

Surge has agreed to purchase the Assets for gross proceeds of $245 million (the “Purchase Price”) with an effective date of May 1, 2022, … Continue Reading

CALGARY, AB, Nov. 2, 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 September 30, 2022, and an update on Surge’s latest drilling results.

Q3 2022 FINANCIAL & OPERATING HIGHLIGHTS

Surge’s Board and Management continue to be optimistic on the outlook for crude oil prices, based on a historically tight physical market, ongoing geopolitical issues, and the significant underinvestment in the energy industry over the past several years.

During the third quarter of 2022, Surge delivered cash flow from operating activities … Continue Reading

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