Canada's Surge Energy 2025 revenue falls 13%

SURGE ENERGY

04/03/2026 22:55

Overview

Canada oil and gas firm's 2025 revenue fell  13% yr/yr

Company's Q4 net loss of C$7.1 mln

Outlook

Surge Energy estimates 2026 average production of 23,000 boepd

Company forecasts 2026 adjusted funds flow of $265 mln

Surge Energy plans to drill 60 gross wells in 2026

Result Drivers

PRODUCTION EXCEEDANCE - Surge exceeded its 2025 production estimates by nearly 1,000 boepd due to strong drilling and waterflood results in Sparky and SE Saskatchewan

COST REDUCTION - Surge reduced capital expenditures by more than C$35 mln compared to 2024, enhancing capital efficiency

Company press release: ID:nCNWYlwKLa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Oil Sales
C$121.2 mln
Q4 EPS
-C$0.07
Q4 Net Income
-C$7.09 mln
Q4 Cash Flow from Operating Activities
C$59.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Surge Energy Inc (Alberta) is C$9.00, about 9.1% above its March 3 closing price of C$8.25

The stock recently traded at 60 times the next 12-month earnings vs. a P/E of 26 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)