Surge Energy cuts net debt by C$11.7 mln in Q3 2025

SURGE ENERGY

05/11/2025 23:08

Overview

Surge Energy Q3 production averaged 23,622 boepd, exceeding Co's budget estimates

Surge Energy decreased net debt by C$11.7 mln in Q3 2025

Outlook

Surge Energy forecasts 2026 production at 23,000 boepd, 88% liquids

Company anticipates 2026 free cash flow of C$95 mln at US$65 WTI

Surge plans $150 mln in 2026 exploration and development expenditures

Result Drivers

PRODUCTION OUTPERFORMANCE - Surge exceeded production targets due to successful drilling and waterflood operations in Sparky and SE Saskatchewan

STRATEGIC ACQUISITIONS - Acquisition of Mannville lands added 25 drilling locations, enhancing future production potential

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Oil Sales
C$140.79 mln
Q3 Net Income
C$7.20 mln
Q3 Capex
C$38.48 mln
Q3 Cash Flow from Operating Activities
C$66.39 mln
Q3 Operating Expenses
-C$17,690


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "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 26.8% above its November 5 closing price of C$6.59

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nCNWP0t6Pa

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(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.)