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Surge Energy Inc (SGY.TO)

SGY.TO on Toronto Stock Exchange

0.29CAD
3 Jun 2020
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Latest Key Developments (Source: Significant Developments)

Surge Energy Appoints Jared Ducs As New CEO
Monday, 12 Aug 2019 

Aug 12 (Reuters) - Surge Energy Inc ::SURGE ENERGY INC. ANNOUNCES SECOND QUARTER RESULTS; APPOINTMENT OF CFO.SURGE ENERGY INC - Q2/19 QUARTERLY PRODUCTION OF 21,544 BOEPD INCREASED BY 26 PERCENT OVER Q2/18 PRODUCTION OF 17,072 BOEPD.SURGE ENERGY INC - PROMOTION OF JARED DUCS TO OFFICE OF CHIEF FINANCIAL OFFICER OF COMPANY EFFECTIVE AUGUST 9.SURGE ENERGY INC - QTRLY CASH FLOW FROM OPERATING ACTIVITIES PER SHARE - BASIC $0.15.  Full Article

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
Thursday, 14 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
Thursday, 9 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

BRIEF-Surge Energy Reports Qtrly Basic Loss Per Share $0.44

* ANNOUNCES 2019 FOURTH QUARTER AND YEAR-END FINANCIAL AND OPERATING RESULTS; 2019 YEAR-END RESERVES; AND DIVIDEND REDUCTION