Brief: Surge Energy Inc Reports Covid-19 Pandemic Response

SURGE ENERGY

14/04/2020 23:15

April 14 (Reuters) - Surge Energy Inc  SGY.TO :
    * SURGE ENERGY INC. ANNOUNCES COVID-19 PANDEMIC RESPONSE;
CORPORATE UPDATE; ANNUAL GENERAL MEETING; DIVIDEND SUSPENSION
    * SURGE ENERGY INC - ELECTED TO TEMPORARILY CURTAIL UP TO
4,400
BOEPD OF LOWER MARGIN PRODUCTION IN ORDER TO MAXIMIZE CORPORATE
CASH FLOWS
    * SURGE - SUSPENDED ALL MAJOR CAPITAL EXPENDITURES IN EARLY
MARCH,
PROVIDING CO WITH GREATER OPERATIONAL, FINANCIAL FLEXIBILITY FOR
BALANCE OF 2020
    * SURGE ENERGY - WILL NOW HAVE APPROXIMATELY 50 PERCENT OF
ITS
NET, AFTER ROYALTY CROWN OIL PRODUCTION HEDGED THROUGH BALANCE
OF 2020
    * SURGE ENERGY INC - IS ALSO SUSPENDING ITS PREVIOUSLY
ANNOUNCED
2020 GUIDANCE AND CAPITAL PROGRAM OF $98.5 MILLION
    * SURGE ENERGY INC - SURGE'S CAPITAL EXPENDITURES WERE
APPROXIMATELY $34 MILLION IN Q1
    * SURGE ENERGY INC - COMPANY'S CAPITAL PROGRAM WILL BE
RE-GUIDED
AS COMMODITY PRICES IMPROVE

Source text for Eikon:  ID:nCNW1Lmmqa 
Further company coverage:  SGY.TO 

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