Edition:
United States

Surge Energy Inc (SGY.TO)

SGY.TO on Toronto Stock Exchange

2.67CAD
25 Apr 2017
Change (% chg)

-- (--)
Prev Close
$2.67
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
1,254,405
52-wk High
$3.45
52-wk Low
$2.05

Latest Key Developments (Source: Significant Developments)

Surge Energy announces $37 mln Sparky Area acquisition
Wednesday, 19 Apr 2017 07:00am EDT 

April 19 (Reuters) - Surge Energy Inc ::Surge Energy Inc announces $37 million core sparky area acquisition; upward revision to 2017 guidance; increased dividend.Acquisition is accretive to surge on all key per share metrics.Surge will now be delivering production growth of more than 24 percent from Q2/16 to end of Q4/17.Pursuant to core sparky area acquisition referenced herein, Surge is now revising upward company's 2017 guidance.Sees 2017 average production of 14,450 BOE/D.Sees 2017 exit production 15,150 BOE/D.Surge revised upward company's 2017 average daily production estimate to 14,000 boepd from 13,500 boepd.Sees 2017 total capital spending (including acquisitions) $124 million.Sees operating expenses for H2 2017 of $12.00-$12.50/boe.Board will look to increase dividend by about 11.8 percent per year from $0.085 per year ($0.00708 per month) to $0.095 per year.Confirms its banking syndicate increased Surge's bank line limit (pro-forma acquisition) from previous $250 million to $285 million.  Full Article

Surge Energy qtrly earnings per share $0.10
Wednesday, 15 Mar 2017 05:54pm EDT 

Surge Energy Inc : Surge energy inc. Announces q4 and year end 2016 results; exceeds 2016 production exit rate target; cash flow per share up 43 percent; confirms march 2017 dividend . Surge energy inc- now anticipates delivering more than 18 percent production per share growth over period from q2 of 2016, to end of 2017 . Surge energy inc qtrly earnings per share $0.10 . Qtrly adjusted funds from operations $0.10 per share . Surge energy inc - company re-affirms its 2017 guidance . Surge energy inc - management retains the flexibility to potentially increase surge's 2017 capital budget .Surge energy inc - surge will continue to monitor commodity prices and its ability to drill and pay the dividend within cash flow during 2017.  Full Article

SURGE ENERGY SAYS TO INCREASE ITS DIVIDEND FROM $0.075 PER YEAR TO $0.085 PER YEAR
Wednesday, 8 Feb 2017 02:13pm EST 

Surge Energy Inc : SURGE ENERGY INC. ANNOUNCES INTENDED 15 PERCENT INCREASE TO ITS DIVIDEND - ON GROWING PRODUCTION VOLUMES AND FREE FUNDS FLOW . INTENTION TO INCREASE ITS DIVIDEND FROM $0.075 PER YEAR TO $0.085 PER YEAR . CONFIRMS DECEMBER, 2016 PRODUCTION AVERAGED MORE THAN 13,800 BOEPD - WELL ABOVE COMPANY'S 2016 EXIT RATE PRODUCTION GUIDANCE . ANTICIPATES 13.5 NET WELLS WILL BE BROUGHT ON PRODUCTION BEFORE SPRING BREAK-UP AT COMPANY'S THREE CORE ASSETS .NOW ANTICIPATES DELIVERING MORE THAN 18 PERCENT PRODUCTION PER SHARE GROWTH OVER PERIOD FROM Q2/2016 TO END OF 2017.  Full Article

Surge reports preliminary guidance for 2017
Tuesday, 6 Sep 2016 07:00am EDT 

Surge Energy Inc : Surge Energy Inc announces preliminary guidance for 2017 and upward revision to 2016 production exit rate . Average production for 2017 is forecast to be 13,650, with an exit rate of 14,150 BOEPD .Anticipates spending 70 percent of its preliminary 2017 capital budget on drilling activity.  Full Article

Surge Energy Q2 FFO per share c$0.10
Wednesday, 3 Aug 2016 05:29pm EDT 

Surge Energy Inc : Surge energy inc. Announces second quarter 2016 results . Q2 FFO per share c$0.10 . Surge has elected not to change guidance at this time . Surge energy inc qtrly production 12,182 boe per day, down 9 percent .Second half drilling program accelerated.  Full Article

Surge Energy confirms july 2016 dividend
Friday, 15 Jul 2016 06:00am EDT 

Surge Energy Inc : Surge Energy Inc. confirms July 2016 dividend .Sets July cash dividend of C$0.00625 per share.  Full Article

Surge Energy sets June cash dividend
Wednesday, 15 Jun 2016 06:00am EDT 

Surge Energy Inc :Sets June cash dividend of C$0.00625 per share.  Full Article

Surge Energy Q1 earnings per share $0.03
Wednesday, 11 May 2016 06:27pm EDT 

Surge Energy Inc : Qtrly earnings per share $0.03 . Q1 average production rate of 13,408 boe per day, which reflects approximately 500 boe/d of shut-in production . Says has no update to financial guidance provided on april 7 , 2016 .Surge energy inc. Announces first quarter 2016 results.  Full Article

Surge Energy Inc. Confirms February 2016 Dividend
Tuesday, 16 Feb 2016 06:00am EST 

Surge Energy Inc:confirms that a cash dividend to be paid on March 15, 2016 in respect of February 2015 production, for shareholders of record on February 29, 2016 will be $0.0125 per share.  Full Article

Surge Energy Inc confirms January 2016 dividend
Friday, 15 Jan 2016 06:00am EST 

Surge Energy Inc:Confirms that cash dividend to be paid on Feb. 15 in respect of Jan. production, for the shareholders of record on Jan. 31 will be $0.0125 per share.  Full Article

More From Around the Web

BRIEF-Surge Energy announces $37 mln Sparky Area acquisition

* Surge Energy Inc announces $37 million core sparky area acquisition; upward revision to 2017 guidance; increased dividend