Surge Energy Revenue Drops, Production Increases

Surge Energy revealed that its revenue dropped 37 percent in the second quarter of 2015, compared to the same period last year, despite a production increase of eight percent compared to 2Q 2014.

The company’s total oil, natural gas and NGL revenue for the quarter was $80.8 million, compared to $128.1 million posted during the second quarter of 2014. Surge produced 17,652 barrels of oil equivalent per day during 2Q 2015, which marked an increase on the company’s figure of 16,395 boepd recorded during 2Q 2014.

In its 2Q 2015 results statement, Surge also announced that it reduced operating expenses per boe by 15 percent in 2Q 2015, compared to the first quarter of 2015, to $15.13. The company drilled one well in 2Q 2015 and spud two wells in Canada, one at Valhalla and one at Shaunavon.

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
Accounting Manager
Expertise: Accounting
Location: Houston, TX
Data Processing Supervisor
Expertise: Planner / Scheduler|Project Controls|Refinery / Plant Operator
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours