Surge Energy invests in Canadian oil assets
Surge Energy Inc. and Enerplus Corporation have signed a definitive purchase and sale agreement for the water-flooded oil assets in Canada for CAD245 million (US$184.5 million).
The assets produce more than 3,850 barrels of oil equivalent per day (boepd; 99% liquids) of predominantly light and medium gravity crude oil, with operations focused on Surge's existing Sparky and Southeast Saskatchewan core areas.
Payable to Enerplus, the transaction is anticipated to be completed on or before December 19, 2022.
Country updates
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