Brief: Surge Energy America Announces Significant Midland Basin Acquisition

SURGE ENERGY

31/01/2021 15:05

Jan 31 (Reuters) - Surge Energy Inc  SGY.TO :
    * SURGE ENERGY AMERICA ANNOUNCES SIGNIFICANT MIDLAND BASIN
ACQUISITION
    * SURGE ENERGY - CO, THROUGH ITS SUBSIDIARY, SIGNED PURCHASE
&
SALE AGREEMENT TO ACQUIRE LEASEHOLD INTEREST, PRODUCING WELLS
FROM GRENADIER ENERGY PARTNERS II
    * AGGREGATE PURCHASE PRICE OF TRANSACTION IS EXPECTED TO BE
APPROXIMATELY $420 MILLION USD
    * SURGE ENERGY - COMBINATION OF BOTH PRODUCTION &
HIGH-QUALITY
INVENTORY SUPPORT BOTH NEAR-TERM CASH FLOW & STRONG ECONOMIC
RETURNS FOR YEARS TO COME

Source text for Eikon:  ID:nPn4PxS89a 
Further company coverage:  SGY.TO 

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