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Surge Energy Adopts Cautious Strategy in 2015
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Surge Energy Inc. has announced that, until such time as the Company receives tangible clarity with respect to world oil prices, Surge's management and Board are adopting a very conservative capital spending program for the first half of 2015, which is designed to protect both the Company's net asset value and Surge's balance sheet.
This conservative capital expenditure program in the first half of 2015, however, will still allow the Company to deliver average daily production more than 27 percent higher than the first half of 2014, pay debt down aggressively, and pay Surge's dividend.
Given the extreme volatility, significant downward pressure, and uncertainty relating to world crude oil prices, Surge's management and Board have decided to project capital spending only until July 1…
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