Debt | Forecast - Production | Capital Markets | Capital Expenditure
Surge Reaffirms Guidance on $60MM Liquidity Gain
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Having created an additional $60 million of liquidity for the Company, Surge Energy Inc. management reaffirm the Company's 2016 capital spending plan.
Key Points: 2016 Capex: $55 million2016 Exit Production: 13,000 boepd
This program reflects a prudent amount of capital and activity in order to maintain stability in Surge's corporate base production and balance sheet.
The following table provides updated 2016 guidance ranges for key financial operating items. Assumptions behind these values are based on strip pricing as of April 1, 2016.
In accordance with this low risk development drilling program, Surge anticipates exiting 2016 with production of more than 13,000 boepd. The Company's adjusted 2016 production guidance reflects the Sunset disposition (720 boepd), as well as 350-400…
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