Operations
Key Canadian Growth Plays
Surge offers exposure to two of the top five conventional oil growth plays in Canada: the Sparky & SE Saskatchewan. Each of these plays provides exceptional economics and a depth of drilling inventory.
Greater Sawn
Greater Sawn
Concentrated light oil asset with conventional Slave Point reefs.
Sparky
Sparky
Light/medium crude oil production with compelling returns. Low on-stream costs with extensive drilling and waterflood inventory provides excellent long term sustainable growth potential.
SE Sask
SE Sask
Highly focused, operated asset base with excellent light oil operating netbacks. Low-cost wells with short payouts. Potential for continued area consolidation.
Sparky
A One-of-a-Kind Position
Surge holds a dominant land position and is drilling a mix of horizontal multi-frac and horizontal multi-lateral wells in the Sparky area
- Large, well established oil producing fairway in Western Canada
- Increased market focus with operators implementing multi-lateral horizontals in areas of higher oil viscosity; being compared to the Clearwater
- Per well economics with quick payouts and excellent rates
- Conventional sandstone reservoirs support top-tier capital efficiencies
- Shallow depth (700-900m)
- Low geological risk due to 3D seismic and thousands of vertical penetrations
SE Saskatchewan
A Light Oil Balance
Surge’s operational track record of success in SE Saskatchewan makes this an exciting growth area
Area Benefits
- Organic growth opportunities
- Strategic acquisitions or tuck-in consolidation opportunities
- Cost-efficient drilling
- Extremely quick turnaround from spud to on production (under two weeks)
- High operating netback ($47.50 at $70 WTI)
- Mix of low decline waterfloods & highly economic drilling
- Assets have low liabilities; minimal inactive ARO
- Year-round access
