Surge reported 2Q19 results which were largely in line with expectations, though adjusted funds flow modestly outpaced expectations (Surge $0.16 vs. consensus $0.15/sh), as the company’s impressive $31.42/boe operating netback aided in generating $17.7 mm of FCF in excess of dividends and capex. The company closed a GORR disposition for ~214 boe/d late in the quarter, bringing in net proceeds of $29.1 mm. We were carrying this disposition in our forecast previously, so on that basis, th

12 Aug 2019
Announces 2Q19 results, closes ~$29 mm GORR disposition

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Announces 2Q19 results, closes ~$29 mm GORR disposition
Surge Energy Inc. (SGY:TSE) | 0 0 -0.5% | Mkt Cap: 433.4m
- Published:
12 Aug 2019 -
Author:
Robert Fitzmartyn -
Pages:
7 -
Surge reported 2Q19 results which were largely in line with expectations, though adjusted funds flow modestly outpaced expectations (Surge $0.16 vs. consensus $0.15/sh), as the company’s impressive $31.42/boe operating netback aided in generating $17.7 mm of FCF in excess of dividends and capex. The company closed a GORR disposition for ~214 boe/d late in the quarter, bringing in net proceeds of $29.1 mm. We were carrying this disposition in our forecast previously, so on that basis, th