Last C$7.06 CAD
Change Today +0.10 / 1.44%
Volume 5.5M
SGY On Other Exchanges
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As of 4:00 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

surge energy inc (SGY) Snapshot

Open
C$6.95
Previous Close
C$6.96
Day High
C$7.14
Day Low
C$6.85
52 Week High
10/23/13 - C$7.30
52 Week Low
04/23/13 - C$2.80
Market Cap
1.3B
Average Volume 10 Days
5.7M
EPS TTM
C$0.33
Shares Outstanding
179.5M
EX-Date
04/28/14
P/E TM
21.4x
Dividend
C$0.54
Dividend Yield
4.56%
Current Stock Chart for SURGE ENERGY INC (SGY)

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surge energy inc (SGY) Details

Surge Energy Inc., an independent oil and gas company, explores for, develops, produces, and markets petroleum and natural gas reserves primarily in Western Canada. Its principal oil and natural gas producing properties include the Valhalla/Wembley, Nipisi, and Windfall properties located in Western Alberta; the Wainwright, Eyehill, Provost, and Silver properties located in Southeast Alberta; the Shaunavon and Dodsland/Forgan properties located in Saskatchewan; and the Manson and Macoun properties located in Williston Basin. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc. in June 2010. Surge Energy Inc. was incorporated in 1998 and is headquartered in Calgary, Canada.

55 Employees
Last Reported Date: 03/19/14
Founded in 1998

surge energy inc (SGY) Top Compensated Officers

Chief Financial Officer and Vice President of...
Total Annual Compensation: C$236.3K
Chief Operating Officer
Total Annual Compensation: C$246.3K
Vice President of Land
Total Annual Compensation: C$212.5K
Compensation as of Fiscal Year 2012.

surge energy inc (SGY) Key Developments

Surge Energy Inc. Confirms April 2014 Dividend, Payable on May 15, 2014

Surge Energy Inc. confirmed that a cash dividend to be paid on May 15, 2014 in respect of April 2014 production, for the shareholders of record on April 30, 2014 will be $0.045 per share.

Urge Energy Inc. Announces First Quarter 2014 Development Drilling Results

Surge Energy Inc. announced that, based upon better than anticipated first quarter 2014 development drilling results, a large new crude oil discovery in SW Saskatchewan, and excellent results from several of the Company's ongoing waterflood projects, Surge has already exceeded the Company's 2014 year end production exit rate. Accordingly, Surge is now revising upward the Company's 2014 year end production estimate from 16,550 boepd to 16,850 boepd (85% oil and NGLs). On this basis, proforma the previously announced acquisition of Longview Oil Corp. ("Longview"), Surge is now projecting an increased 2014 production exit rate of 21,350 boepd (84% oil and NGLs). In the first quarter of 2014, Surge experienced better than anticipated development drilling results across the Company's entire asset base. During the quarter Surge drilled a total of 18 wells (13.3 net), with a success rate of 100%. At Shaunavon in SW Saskatchewan, Surge drilled an exciting new pool discovery in the Upper Shaunavon horizon (100% WI) at 16-36-5-20-W3. The horizontal well encountered 1,175 meters of reservoir section and was completed with 21 frac stages. This discovery well is currently producing over 300 bopd. The success of this well confirms Surge's 3-D seismic interpretation of the Upper Shaunavon interval over its lands. Surge now maps over 125 million barrels of OOIP1 in the Upper Shaunavon formation, with the potential for more than 64 additional locations (4 wells per section). Surge also successfully drilled four (3 net) Lower Shaunavon wells in SW Saskatchewan during the first quarter of 2014 with excellent type curve results. In addition, Surge has observed significant re-pressuring of the Lower Shaunavon formation on both of the Company's four and eight well per section waterflood pilots, as a result of the injection commenced in the fourth quarter of 2013. Production from wells that had been shut in (in order to re-pressure the reservoir) was re-started at the end of March, 2014. Surge maps over 220 million barrels of OOIP in the Lower Shaunavon formation, with a 1.96% recovery factor to date. Surge has over 215 net Lower Shaunavon drilling locations in SW Saskatchewan, and full waterflood upside. At Nipisi in NW Alberta, Surge drilled one successful (100% WI) Slave Point horizontal, multi-frac development well, immediately off-setting a horizontal injection well. This exciting new well encountered near virgin reservoir pressure, and is producing over 300 bopd. A third horizontal injector was added to the pool during the first quarter of 2014. The net waterflood response to date from the three existing horizontal injectors is estimated currently to be approximately 230 bopd. The capital invested to establish this waterflood was $3.75 million, providing a production efficiency of $13,250 per bopd. This high netback 80 million barrel OOIP light oil pool has a recovery factor of less than one%, with numerous follow-up locations, and further waterflood upside. Surge anticipates converting two more horizontal wells to injection at Nipisi over the remainder of 2014. At Eyehill in Central Alberta, during the first quarter of 2014 Surge successfully drilled two (2 net) wells into the Sparky formation. The wells are producing well above the expected 180 day type curve rate. As a result of successful farm-ins, Surge now estimates over 90 million barrels of net OOIP in the Sparky formation, with less than one% recovered to date. Surge will be converting a horizontal well to injection in the second quarter of 2014.

Surge Energy Inc. Reports Production Results for the First Quarter of 2014; Revises Production Guidance for the Year 2014

Surge Energy Inc. revised production guidance for the year 2014. For the year, the company is now projecting an increased 2014 production exit rate of 21,350 boepd (84% oil and NGLs). During the quarter the company drilled a total of 18 wells (13.3 net), with a success rate of 100%. At Shaunavon in SW Saskatchewan, Surge drilled an exciting new pool discovery in the Upper Shaunavon horizon (100% WI) at 16-36-5-20-W3. The horizontal well encountered 1,175 meters of reservoir section and was completed with 21 frac stages. This discovery well is currently producing over 300 bopd. The success of this well confirms Surge's 3-D seismic interpretation of the Upper Shaunavon interval over its lands. Surge now maps over 125 million barrels of OOIP in the Upper Shaunavon formation, with the potential for more than 64 additional locations (4 wells per section). The company also successfully drilled four (3 net) Lower Shaunavon wells in SW Saskatchewan during the first quarter of 2014 with excellent type curve results.

 

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