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Surge Energy, Inc.

Company Summary

Financial Data:


Tickers:

  • SGY - Toronto Stock Exchange

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Recent news

  • 11/9/2022 - Surge Energy Updates... (subscriber access)
  • 11/9/2022 - Surge Energy Purchases... (subscriber access)
  • 11/8/2022 - Surge Energy Increases... (subscriber access)
  • 8/1/2022 - Surge Energy Outlines... (subscriber access)
  • 8/1/2022 - Surge Energy Reports... (subscriber access)

Company Transactions

Date: 12/19/2022
Type: Acquisition

BUYERS:
  • Surge Energy, Inc.
    • SELLERS:
  • Enerplus Corporation
    • DETAILS:

    COST: 245 $MM

    VOLUMES: 3.8 MBOE/d

    NOTES:
    Surge Energy entered into a purchase agreement with Enerplus for "long life, operated, high operating netback, waterflooded producing oil assets" within Surge's Sparky and SE Saskatchewan core areas. The assets produce over 3.8 Mboe/d, of which 99% are liquids, of light and medium gravity crude oil.
    REGIONS:
  • Western Canadian Sedimentary Basin

    • Date: 11/2/2021
    Type: Acquisition

    BUYERS:
  • Surge Energy, Inc.
    • SELLERS:
  • Fire Sky Energy Inc.
    • DETAILS:

    COST: 58 $MM

    VOLUMES: 1.5 MBOE/d

    NOTES:
    Surge Energy has signed an amalgamation agreement with Fire Sky Energy, whereby Surge will buy all shares of Fire Sky for $58 million. They are funding the deal via the issuance of 11.2 million Surge common shares and the assumption of $3 million in net debt.
    REGIONS:
  • Canada

    • Date: 8/15/2021
    Type: Acquisition

    BUYERS:
  • Surge Energy, Inc.
    • SELLERS:
  • Astra Oil Corp.
    • DETAILS:

    COST: 160 $MM

    VOLUMES: 4.1 BOE/d

    NOTES:
    Surge Energy has signed a deal to acquire all shares of Astra Oil Corp. for $160 million, which will be funded via the issuance of Surge common shares and the assumption of $15 million in net debt.
    REGIONS:
  • Western Canadian Sedimentary Basin

    • Date: 3/25/2021
    Type: Acquisition

    SELLERS:
  • Surge Energy, Inc.
    • DETAILS:

    COST: 106 $MM

    VOLUMES: 2.7 $MM

    NOTES:
    Surge Energy has entered into a deal to sell $106 million in assets, which include 2.7 MBoe/d in net production that will close before March 25, 2021. Proceeds will be used to reduce indebtedness.
    REGIONS:
  • Western Canadian Sedimentary Basin

    • Date: 10/30/2017
    Type: Acquisition

    BUYERS:
  • Surge Energy, Inc.
    • DETAILS:

    COST: 37.2 $MM

    VOLUMES: 780 BOE/d

    REGIONS:
  • Western Canadian Sedimentary Basin