Surge Energy Inc.

Surge Energy US Holdings Company announces it has conserved over 100 million barrels, or 4.2 billion gallons, from the inception of using recycled produced water for completion operations in 2017. The practice of using recycled produced water for completion operations both conserves fresh water and reduces operating expenses. The company currently uses recycled produced water in 100% of well completions. Further [...]

Surge Energy Inc. confirms that a cash dividend to be paid on February 15, 2023, in respect of January 2023 production, for the shareholders of record on January 31, 2023 will be $0.04 per share. The $0.04 per share dividend represents a 14 percent increase in the Company's dividend, from $0.42 per share per year to $0.48 per share per year . The dividend is an eligible dividend for the purposes of the Income Tax Act [...]

Surge Energy US Holdings Company announces it has commissioned the Phoenix electrical substation, the Company's second electrical substation. The company's first electrical substation, the Dragon substation was commissioned in January 2020. This reduced the need for over forty well-site generators which significantly reduced both costs and GHG emissions. The Company estimates the removal of generators has resulted in a [...]

Surge Energy Inc. is pleased to announce today that it has closed the previously announced acquisition of long life, low decline, crude oil assets in Surge's Sparky and SE Saskatchewan core areas, for a net purchase price of $202 million. The Assets are currently producing more than 3,850 boepd of predominantly light and medium gravity crude oil. The Acquisition is 15 percent accretive to Surge's 2023 free cash flow per [...]

Surge Energy Inc. confirms that a cash dividend to be paid on January 16, 2023, in respect of December 2022 production, for the shareholders of record on December 31, 2022 will be $0.035 per share. The dividend is an eligible dividend for the purposes of the Income Tax Act . Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The Company's [...]

Surge Energy US Holdings Company announces it has surpassed $7 billion of contribution to the Texas economy which includes cumulative oil and gas revenues, royalty and working interest payments, and production taxes since the Company's inception in 2015. This milestone was achieved in November 2022 as a result of the continuous growth of the company through acquisitions and ongoing development activities. The Company's [...]

Surge Energy Inc. is pleased to announce it has closed an over-allotment option that was fully exercised by a syndicate of Underwriters to the Offering led by National Bank Financial Inc. and Peters & Co. Limited , to purchase an additional 1,135,200 common shares of the Company at a price of $9.25 per Share for gross proceeds of $10,500,600. The Over-Allotment Option was granted to the Underwriters in connection with the [...]

Surge Energy Inc. is pleased to announce the closing of the previously announced upsized, bought-deal equity financing of 7,568,000 common shares of Surge at a price of $9.25 per Common Share, for gross proceeds of approximately $70.0 million. The Company has also granted to the Underwriters an over-allotment option to purchase 1,135,200 additional Common Shares, representing 15% of the size of the Financing. The [...]

Surge Energy Inc. confirms that a cash dividend to be paid on December 15, 2022, in respect of November 2022 production, for the shareholders of record on November 30, 2022 will be $0.035 per share. The dividend is an eligible dividend for the purposes of the Income Tax Act . Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The Company's [...]

Surge Energy Inc. is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank Financial Inc. and Peters & Co. Limited to increase the size of its previously announced bought-deal financing . Surge will now issue 7,568,000 common shares at a price of $9.25 per Common Share to raise aggregate gross proceeds of $70,004,000 pursuant to the Offering. The [...]