Surge Energy Inc. (T:SGY)
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 |
| 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: | 100,581,025 as of Apr 9, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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