Surge Energy Inc. (T:SGY*CA)

Business Focus: Oil Exploration & Production - Onshore

Sector:  Energy Industry:  Oil & Gas Exploration and Production
 
Company Contact
Address: Centennial Place-East Tower
Suite 1200, 520-3rd Avenue SW
CALGARY AB T2P 0R3
Tel: N/A
Website: https://www.surgeenergy.ca
IR: See website
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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
Dan Kelly
Vice President - Finance, Controller
Grant Cutforth
Vice President - Business Development
   
Business Overview
Surge Energy Inc. is an oil focused exploration and production company. The Company's business consists of the exploration, development and production of oil and gas from properties in Western Canada. The Company's operations include Sparky, SE Saskatchewan, Greater Sawn, Valhalla and Shaunavon. The Sparky operation offers light/medium crude oil production with compelling returns. The SE Saskatchewan operation maintains asset base oil operating netbacks. Its development consists of low-cost wells with short payouts and SE Saskatchewan provides potential for continued area consolidation. The Valhalla operation is offering stacked pay multi-zone potential with light oil and provides range of area infrastructure and access to multiple egress options supports attractive operating netbacks. The Shaunavon operation is producing low decline, medium gravity crude oil with high operating netbacks.
Financial Overview
For the fiscal year ended 31 December 2023, Surge Energy Inc revenues increased 4% to C$560.7M. Net income decreased 93% to C$15.8M. Revenues reflect Processing and other revenue segment increase of 7% to C$7.8M. Net income was offset by Average Production Costs per unit, Total increase of 7% to C$22.67 per barrel, Exploration and Development Costs, Total increase of 7% to C$181.6M.
Employees: 93 as of Dec 31, 2023
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $560.73M as of Dec 31, 2023
EBITDA (TTM): $310.53M as of Dec 31, 2023
Net annual income (TTM): $15.75M as of Dec 31, 2023
Free cash flow (TTM): $37.75M as of Dec 31, 2023
Net Debt Last Fiscal Year: $282.18M as of Dec 31, 2023
Shares outstanding: 100,578,025 as of Mar 1, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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