Brief: Surge Energy Reduces Prelim 2019 Capital Budget From $160 Mln To $135 Mln

SURGE ENERGY

14/01/2019 11:11

Jan 14 (Reuters) - Surge Energy Inc  SGY.TO :
    * SURGE ENERGY INC. ANNOUNCES 2019 CAPITAL BUDGET AND
PRODUCTION
GUIDANCE
    * SURGE ENERGY INC - SURGE HAS REDUCED ITS
PREVIOUSLY-ANNOUNCED
PRELIMINARY 2019 CAPITAL BUDGET FROM $160 MILLION TO $135
MILLION
    * SURGE ENERGY - EXPECTS TO DELIVER MORE THAN 20 PERCENT
GROWTH IN
AVERAGE PRODUCTION OVER 2018, WITH AN AVERAGE PRODUCTION RATE OF
22,000 BOEPD FOR 2019
    * SURGE ENERGY - 2H 2019 CAPITAL SPENDING FORECAST HAS
FLEXIBILITY
TO BE INCREASED BY ADDITIONAL $25 MILLION OF EXPLORATION AND
DEVELOPMENT CAPITAL

Source text for Eikon:  ID:nCNWrz8MRa 
Further company coverage:  SGY.TO 

 ((Reuters.Briefs@thomsonreuters.com;))