Surge Energy Inc.
Capital Structure
•
in mil. unless spec.Working Capital
•
in mil. unless spec.Growth Rates
•
in mil. unless spec.Quarterly Revenue
•
in mil. unless spec.Quarterly Earnings Per Share
•
in mil. unless spec.Quarterly Dividends Per Share
•
in mil. unless spec.Company Description
- CEO
- Paul Colborne
- Full Time Employees
- 86
- Sector
- Energy minerals
- Industry
- Oil & gas production
- Address
- Centennial Place – East Tower Calgary AB Canada T2P 0R3
- IPO Date
- Sep 9, 1998
- Website
- surgeenergy.ca
- Similar Companies
- Business
- Surge Energy Inc. Surge Energy Inc. (TSX: SGY) engages in the exploration, development, and production of crude oil and natural gas in Western Canada, with a primary focus on high-quality conventional light and medium oil reservoirs featuring low decline rates, high operating netbacks, and substantial undeveloped drilling inventory. The company holds dominant positions in its core Sparky formation assets located between Provost and Wainwright in Alberta and Saskatchewan, encompassing multi-lateral horizontal and multi-frac horizontal wells, waterflood programs, and the emerging Hope Valley discovery area with over 80 identified multi-lateral drilling locations; Southeast Saskatchewan properties including Frobisher, Midale, Ratcliffe, and Alida beds supported by low-cost vertical drilling, waterfloods, and horizontal development; Greater Sawn Lake light oil assets in Northern Alberta with conventional Slave Point carbonate reefs under waterflood; and minor non-core positions in Alberta, Saskatchewan, and Manitoba previously including Valhalla gas-weighted assets now divested. Surge generates revenue predominantly from oil sales (approximately 91% liquids weighting in 2025 guidance), natural gas liquids, and natural gas, targeting intermediate producers and investors seeking free cash flow generation through disciplined capital allocation in low-risk, repeatable plays with original oil in place exceeding 2.3 billion barrels net to the company and recovery factors averaging 8.9% to date. Incorporated in 1998 and formerly known as Zapata Energy Corporation until its name change in June 2010, Surge Energy Inc. maintains headquarters at Suite 1200, 520 - 3rd Avenue SW, Calgary, Alberta, Canada, and operates exclusively within Alberta, Saskatchewan, and Manitoba. In recent strategic developments, the company completes the sale of its gas-weighted non-core Valhalla assets in Alberta for $9.5 million cash proceeds plus abandonment and reclamation obligation transfers on December 19, 2024, accelerating approximately 10 years of future free cash flow while enhancing corporate liquids weighting to 91% and reducing net operating expenses to $19.05-$19.55 per boe in 2025 guidance; executes a comprehensive debt restructuring in Q3 2024 by issuing $175 million in 5-year senior unsecured notes at 8.5%, repaying its $126 million second-lien term facility, and expanding its first-lien revolving credit facility to $250 million undrawn, terming out substantially all net debt to late 2028 and 2029 maturities with net debt at $217.4 million as of September 30, 2025; advances its Sparky waterflood program with 19 injector conversions planned for 2025 following successful pilots, including the first injector at Hope Valley, and releases a revised 2025 capital budget of $170 million focused 95% on Sparky and Southeast Saskatchewan for 22,500 boepd average production (91% liquids), $275 million adjusted funds flow, and $85 million free cash flow at US$70 WTI assumptions; and sustains shareholder returns through a $0.52 annual base dividend (approximately 8% yield), normal course issuer bid share repurchases totaling millions quarterly, and allocation of excess free cash flow prioritizing buybacks up to 75% post-dividend alongside debt reduction.
Company News
Surge Energy: Still Attractive In The Current Oil Price Environment
Surge Energy: Should Surge More In High Oil Price Environment
Surge Energy Inc. (SGY:CA) Shareholder/Analyst Call Transcript
Surge Energy: Benefiting From Higher Oil Prices
Analyzing NVDA "Odd" Trading Action Amid AI CapEx Surge, Energy Headwinds
Surge Energy (OTCMKTS:ZPTAF) Trading 1.4% Higher – Here’s Why
Surge Energy (OTCMKTS:ZPTAF) Shares Up 1.6% – Should You Buy?
Surge Energy: Works Magic With $70 Oil, Q2 Beat & 2030 Scenario Projections
Surge Energy: High FCF Yield Makes The Stock Finally Cheap Enough
Surge Energy: A Profitable Canadian Conventional Opportunity
Surge Energy Is Getting There, But It Needs Higher Oil Prices (Valuation Downgrade)
Surge Energy: Trading At Just 6 Times Free Cash Flow At US$75 WTI
Surge Energy: 2024 May Be The Year Of The Shareholder (Technical Analysis)
Surge Energy Inc. Announces $42 Million Convertible Debenture Bought Deal Financing and Intention to Redeem Existing Convertible Debentures Due June 30, 2024
Surge Energy Offers A 6.75% YTM On A 10 Month Debenture
Surge Energy Offers A Generous 6% Dividend Yield, But I Prefer The Debentures
Surge Energy: Shareholder Payday Possibly Postponed (Technical Analysis)
Surge Energy Implies Doubling The Shareholder Rewards By Next Summer
Surge Energy: Rapidly Reducing The Net Debt Will Boost Shareholder Rewards
Surge Energy: Climbing Out Of The Debt Hole