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Surge Energy Inc. (T:SGY)

Business Focus: Oil Exploration & Production - Onshore

Sector:  Energy Industry:  Oil & Gas Exploration and Production
See Regulatory Filings on SEDAR
Company Contact
Address: 635 8 Ave SW Suite 2100
Tel: N/A
IR: See website
Key People
Paul Colborne
President, Chief Executive Officer, Director
Jared Andrew Renton Ducs
Chief Financial Officer
Murray Bye
Chief Operating Officer
Derek Christie
Senior Vice President - Geosciences
Margaret Elekes
Senior Vice President - Land and Business Development
Rod J. Monden
Business Overview
Surge Energy Inc is a Canada-based exploration and production company (E&P). The Company is positioned to provide shareholders with long term sustainability by exploiting its assets in a financially disciplined manner and by acquiring additional long life oil and gas assets of a similar nature. Its assets are comprised primarily of operated oil-weighted properties characterized by a promising original oil-in-place (OOIP) crude oil reservoirs with low recovery factors and an inventory of around 700 gross low risk development drilling locations and several water flood projects. The Company continues to identify and pursue acquisitions with synergistic characteristics such as existing long life producing assets or opportunities with low risk upside potential.
Financial Overview
For the six months ended 30 June 2021, Surge EnergyInc revenues decreased 29% to C$77.6M. Net income totaledC$297.1M vs. loss of C$676.4M. Revenues reflect Processingand other revenue segment decrease of 20% to C$2.3M, CrudeOil Production, Total decrease of 17% to 2.4M barrels, OilEquivalent Production (Units/day), T decrease of 15% to 16Kbarrels per day. Net Income reflects Impairment (reversal)decrease from C$590.6M (expense) to C$0K.
Employees: 71 as of Dec 31, 2020
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $164.48M as of Jun 30, 2021
EBITDA (TTM): $35.06M as of Jun 30, 2021
Net annual income (TTM): $226.22M as of Jun 30, 2021
Free cash flow (TTM): -$14.27M as of Jun 30, 2021
Net Debt Last Fiscal Year: $311.90M as of Jun 30, 2021
Shares outstanding: 71,600,000 as of Aug 20, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization