One-Page Deal Sheet
Surge Sells Sunset, Valhalla Assets in NW Alberta for $43 Million
Not Disclosed Surge Energy Inc
Announced Date
March 24,2016
Close Date
March 31,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
43
Location
Region
Canada
Country
Canada
Transaction Details: Subscribe to see
Closing Announcement - March 24, 2016
Surge Energy Inc. closed the previously announced sale of certain facilities at its Valhalla light oil and natural gas asset in NW Alberta for $15 million . The Company will maintain control of the Valhalla facilities as operator, and will pay the purchaser an annual tariff for the life of the agreement. Surge will also retain all third- party processing revenues generated from the facilities.
Additionally, Surge also closed the previously announced sale of the Company's non-core Sunset property in Northern Alberta for proceeds of $28 million .
The $43…
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