One-Page Deal Sheet
Surge Energy Closes Double Acquisition of Bakken Property
Surge Energy Inc Not Disclosed
Announced Date
November 18,2013
Close Date
November 13,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
282
Transaction Details: Subscribe to see
Surge Energy Inc. has now closed two previously announced strategic, high quality light oil acquisitions.
The first acquisition involved the $147 million purchase of all of the shares of a Calgary based private oil and gas company, with high netback, operated, producing light oil assets focused in the Steelman area of SE Saskatchewan, and the Dodsland area of SW Saskatchewan. The consideration to be paid to the shareholders of Privateco was comprised of 20.2 million shares of Surge and cash consideration elected by Privateco shareholders of $3.0 million, plus the assumption of $23 million of…
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