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Surge Plans Spending Jump in 2H15; $42.6 Million
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Surge Energy Inc. reported that the Company's management and Board are maintaining a conservative capital spending program for the second half of 2015, which is designed to both protect the Company's net asset value at $6.28 per share, and the Company's excellent balance sheet. While there has been a meaningful recovery in world crude oil prices in the first half of 2015, Surge management and Board will continue to assess market conditions on a weekly basis, and maintain strict discipline with respect to protecting the Company's balance sheet, and allocating capital.
The Board of Directors has approved the Company's capital expenditure program for the second half of 2015 as set forth below.
This budget forecasts maintaining Surge's dividend at $0.30 per share per year ( $0.025 per share…
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