Surge provided an operations update to the market ahead of its 2Q16 results release. Conditions within the Company’s key operating areas allowed an early start to the drilling program and, as a result, production has crested its exit rate guidance of 13,000 boe/d early. Well costs continue to trend down notably within its core Upper Shaunavon play where recent DC&T costs have dropped 20% from previous guidance and are well below our type curve assumptions. Following a normal course
21 Jul 2016
Provides Operations Update, Announces Reduction to Bank Line
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Provides Operations Update, Announces Reduction to Bank Line
Surge Energy Inc. (SGY:TSE) | 0 0 -0.5% | Mkt Cap: 433.4m
- Published:
21 Jul 2016 -
Author:
Cody R. Kwong -
Pages:
6
Surge provided an operations update to the market ahead of its 2Q16 results release. Conditions within the Company’s key operating areas allowed an early start to the drilling program and, as a result, production has crested its exit rate guidance of 13,000 boe/d early. Well costs continue to trend down notably within its core Upper Shaunavon play where recent DC&T costs have dropped 20% from previous guidance and are well below our type curve assumptions. Following a normal course