One-Page Deal Sheet
Surge Energy Bolts on to Core Acreage in Saskatchewan
Surge Energy Inc Not Disclosed
Announced Date
January 14,2014
Effective Date
January 01,2014
Close Date
February 14,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
109
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Surge Energy Inc. has announced today that it has entered into an agreement to acquire certain high quality, low decline, operated, light oil producing assets strategically located in the Company's core area of SE Saskatchewan.
The Assets include an estimated annualized 1,250 boepd (97 percent oil) of high netback light crude oil production. The purchase price for the Assets is $109 million, payable in cash.
As a result of the Acquisition, Surge will be revising upward the Company's 2014 guidance, as set forth below.
In addition, based on the accretive Acquisition, and better than anticipated…
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