Surge Energy Inc. (ticker: SGY) is a Canadian oil-focused E&P company that has production from assets in the Montney, Duvernay and Viking plays in Alberta and Saskatchewan.

SGY Areas of Operation and Production, Jan. 2018

 

SGY had a total average production of 14,670 BOEPD in 2017, with 15,007 BOEPD in Q3 2017. In 2018, Surge projects an average of 16,150 BOEPD.

Among these locations Surge has identified 700+ net low-risk development drilling locations, and several high quality waterflood projects.

Surge Locations

Southeast Alberta Region

  • ~650 MMbbls of net OOIP
  • ~500 MMbbls of net OOIP in the Sparky
  • 318/311 (gross/net) total drilling locations

Shaunavon Region

Surge Energy’s total Shaunavon production (Upper & Lower) is currently more than 2,650 BOPD, with Upper Shaunavon currently estimated to have ~265 million barrels of net original oil in place (OOIP). Surge has an additional 200 million barrels of net OOIP and more than 75 net locations identified in the Lower Shaunavon formation.

 

Northwest Alberta Region

  • Large OOIP of ~720 (595 net) MMbbls of high quality light oil (32-40° API)
  • Large development inventory of 151/142 (gross/net) locations: 104/96 (gross/net) booked

Surge Energy 2018 CapEx Guidance

Capital Category Amount
Drill & Complete, Tie-in $68.75 million
Waterflood $4 million
Facilities $9 million
Workovers $7 million
Land, Capitalized G&A, other $10 million
Total $98.75 million

Before the end of Q3 2017, Surge obtained $40 million in debt financing, and the company expects to have approximately $75 million under its current credit facility.

 

EnerCom Dallas

Surge Energy will present at the EnerCom Dallas oil and gas investment conference February 21-22, 2018 at the Tower Club in downtown Dallas. The conference is focused on bringing together publicly traded E&Ps and oilfield service companies with institutional investors.

Buyside professionals and oil and gas company executives may register for the event through the conference website.


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