Surge Energy Inc.

Surge Energy US Holdings Company today announced that it was listed in the Houston Chronicle's Top 100 Private Companies headquartered in Houston, TX as published on June 19, 2022, and moving of the Houston Corporate Offices currently planned for early 2023. Surge Energy Ranked 20th for the second consecutive year on the list of top private companies as determined by the Houston Chronicle. The list is based on 2021 [...]

Surge Energy Inc. 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 [...]

Surge Energy US Holdings Company announces Fitch Ratings has assigned a first-time 'B' Long-Term Issuer Default Rating with a stable rating outlook to Moss Creek Resources Holdings, Inc. and Moss Creek Resources, LLC, subsidiaries of Surge Energy. "We believe this rating initiation by Fitch demonstrates the quality of our assets, our strong track record as an operator, and our commitment to a disciplined financial [...]

Surge Energy US Holdings Company announces it entered into an agreement with Gravity Water Midstream, LLC to install a produced water recycling facility in Howard County, Texas. Surge initially began utilizing recycled produced water for completion operations in 2017. This practice both conserves fresh water and reduces operating expenses. This new facility built with Gravity will be the fourth recycling facility [...]

Surge Energy Inc. 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 [...]

Surge Energy Inc. 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 ; 4) the intent to redeem the Company's $44.5 million of [...]

Surge Energy US Holdings Company announces upgraded credit ratings from Moody's Investors Service to Moss Creek Resources Holdings, Inc. , a subsidiary of Surge Energy and issuer of the Company's Senior Unsecured Notes . As announced by Moody's, the Corporate Family Rating was upgraded to B2 from B3 and the Senior Notes rating to B3 from Caa1. "We believe this ratings action by Moody's demonstrates the quality of our [...]

Surge Energy US Holdings Company announces an increased borrowing base from $1.2 billion to $1.5 billion and elected commitments from $860 million to $935 million on the Company's revolving credit facility . The increases are in connection with the Credit Facility's regularly scheduled semi-annual redetermination that recently closed. As of March 31, 2022, the company had approximately $88 million in cash and $255 million [...]

Surge Energy US Holdings Company announces the Company achieved record low flare gas performance in 2021 and continued industry leadership in water management. In 2021, the Company reduced its total flared gas percentage by approximately 60% compared to 2020. Flared gas percentage is the gross operated flared gas volumes as a percentage of total gross operated gas produced. The Company is committed to reducing GHG [...]

Surge Energy Inc. 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 , and a new net asset value 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 [...]