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6 FAQs about [Surge energy inc alberta Tokelau]
Who is surge energy?
Surge Energy Inc. is an oil focused E&P company that has a high-quality crude oil reserve, production and cash flow base. © 2024 Surge Energy - All Rights Reserved. Surge Energy is an oil focused E&P company with robust financial flexibility and responsible ESG principles.
What happens to surge's non-core assets after the sale?
Following the sale of the Non-Core Assets, Surge's conventional Sparky and SE Saskatchewan crude oil assets will now represent 90 percent of the Company's new 22,500 boe per day 2025 production guidance, and more than 95 percent of the Company's cash flow from operating activities.
Did surge sell non-core assets at Shaunavon & Westerose?
1. Sale of Non-Core Assets: On May 29, 2024, Surge closed the sale of two non-core assets at Shaunavon and Westerose (the "Non-Core Assets"), for total net proceeds of $37.4 million (the "Non-Core Asset Sales").
What does surge expect from a non-core transaction?
Proceeds from the Transaction bring forward approximately 10 years of future undiscounted free cash flow that the Non-Core Assets would have generated. At current strip crude oil prices, Surge anticipates allocating the net proceeds from the Transaction to additional share buy backs, and further reductions of net debt.
Where can I find more information about surge's risks?
Certain of these risks are set out in more detail in Surge's AIF dated March 6, 2024 and in Surge's MD&A for the period ended December 31, 2023, both of which have been filed on SEDAR+ and can be accessed at
Why should you invest in surge?
Focus on high return strategic opportunities to maximize free cash flow and shareholder returns, and enhance liquidity Continued focus on abandonment program to reduce corporate decommissioning liability Surge offers exposure to two of the top five conventional oil growth plays in Canada: the Sparky & SE Saskatchewan.