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Surge Picks Up Additional Assets in Alberta for $37MM

Surge Energy Inc Not Disclosed
AnnouncedApr 19, 2017
TypeProperty
Announced Date
April 19,2017
Close Date
April 12,2017
Transaction Type
Property
Enterprise Value (EV)($MM)
37




Snapshot
TargetZones:
{Sparky,Lloydminster
% Oil:
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Location
Region
Canada

Country
Canada

Production
Production
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Calculated Metrics( EV/Category)
$/ Flowing
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$/Location
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Surge Energy has acquired low decline, high netback, waterflooded, crude oil producing asset in its core Sparky area of Central Alberta.

In addition, Surge has acquired two net undeveloped sections in the Company’s core operated Eyehill asset. Surge has identified up to 29 low risk, development drilling locations on the Assets.

The purchase price for the Assets is $37 million.

In addition, the two undeveloped sections at Eyehill are strategic to Surge for continued consolidation of this large, high quality, 130 million barrel OOIP, 29° API crude oil asset. The purchase of these two sections…


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Canada Deal Activity In Last 12 Months


Other Canada Region's Deals


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Nov-06-2024 - - Click here Alberta  E&P
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Nov-04-2025 - - Click here Alberta  E&P
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