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Surge Energy Inc Issues FY, Q1, Q2, Q3, And Q4 2013 Production Guidance; Issues FY 2013 FFO Guidance

Friday, 18 Jan 2013 06:00am EST 

Surge Energy Inc announced that with fiscal 2013 budget, it expects to achieve solid growth in average production per share and funds from operations (FFO) per share while maintaining its balance sheet. Based on fiscal 2013 guidance, the Company is forecasting growth in funds from operation per basic share of more than 250% since the Company was recapitalized in 2010 with a compound annual growth rate of more than 50% over that time. The Company expects average production of 10,300 boe per day (73% oil and NGLs) and exit (December Average) production of 11,500 boe per day (73% oil and NGLs) and average FFO per share (basic) of $1.55 for fiscal 2013. The Company expects average production of 9,600 boe per day for the first quarter of 2013, 10,100 boe per day for second quarter of 2013, 10,350 boe per day for the third quarter of 2013, and 11,165 for the fourth quarter of 2013. 

Company Quote

18 Dec 2014