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Surge Touts 2015 Delineation Ops as Well Results Improve
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Surge Energy Inc. announces its operating and financial results for the year and quarter ended December 31, 2015 .
2015 Highlights: Completed $465 million in accretive asset sales (at $90,000 /boed in 1H/15), setting the stage for a "lower for longer" scenario for crude oil prices, via top tier balance sheet strength. Further delineation of the Upper Shaunavon field solidified years of visible drilling inventory. Realized a 30 percent annual reduction for drilling and completion costs for this key asset. Delineated a large northern extension at Valhalla which resulted in the top three oil wells in Alberta for both cumulative production, and initial 90 day average rates, in 2015. Identified and implemented a facilities solution at Valhalla that has provided firm service processing…- ✓ Full news archive — U.S., Canada & international coverage
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