Celebrating a Decade of Success
Surge Energy US Holdings Company, better known as Surge Energy, proudly marks its tenth anniversary this year. Established in 2015, the company has significantly influenced the energy sector and local communities, particularly through economic contributions and job creation.
Impact on the Economy
Since its inception, Surge Energy has injected over $11 billion into the economy through diverse avenues, including oil and gas revenues, royalty payments, and production taxes. This remarkable achievement showcases the company's commitment to driving economic growth and development.
Job Creation
Through its operations, Surge Energy has actively contributed to employment opportunities within the region. The company currently employs around 1,000 Texans, both directly and indirectly through collaborations with service providers and partners.
Remarkable Production Achievements
Over the past decade, Surge Energy has successfully produced more than 200 million gross operated barrels of oil equivalent. This feat reflects the company's dedication to innovation and growth, thanks to substantial capital investments exceeding $6 billion, which have supported various development activities and strategic acquisitions.
Freshwater Conservation Initiatives
Surge Energy has been at the forefront of freshwater conservation in the energy sector. Since 2017, the company has implemented a water recycling program for completion operations that allows them to reuse produced water, leading to a significant reduction in freshwater usage. Following the launch of their fourth recycling facility in mid-2022, the entire Moss Creek area has switched to utilizing recycled water, collectively conserving over 6.8 billion gallons of freshwater.
Environmental Commitment
In addition to water conservation efforts, Surge Energy has made noteworthy strides in reducing emissions. The company's focus on operational excellence, coupled with innovative solutions, has resulted in significant emissions reductions. Innovative water infrastructure has minimized truck traffic, while advancements in electrical infrastructure have allowed for the use of grid power. Furthermore, the introduction of dual fuel completion equipment has lessened reliance on diesel by incorporating compressed natural gas (CNG), eliminating around 418 thousand metric tons of CO2 equivalents.
Leadership Insights
Chief Executive Officer Linhua Guan expressed pride in the company's achievements, stating, "I am proud of the substantial impact Surge has made on the state and the energy industry in our brief history. These impacts and accomplishments were driven by the hardworking people of Surge, and we remain committed to continuing the growth of Surge in a responsible manner." This ethos reflects a strong commitment to sustainability and community engagement.
About Surge Energy
Surge Energy operates as an independent oil and natural gas entity, dedicated to the development and acquisition of reserves in the Midland Basin, a crucial segment of the Permian Basin. Headquartered in Houston, Texas, the company manages approximately 173,000 net acres in the region, showcasing its significant presence and ongoing commitment to the area.
Contact Information
For inquiries, Surge Energy encourages contact through their Investor Relations team. Those interested in learning more about the company can reach out via phone at 832-333-2400. Please note, email inquiries will be routed through the official website.
Frequently Asked Questions
What does Surge Energy do?
Surge Energy focuses on the development and production of oil and natural gas reserves, contributing significantly to the energy market.
When was Surge Energy founded?
Surge Energy was founded in 2015 and has since grown to make a substantial impact in the energy industry.
How many barrels of oil equivalent has Surge Energy produced?
To date, Surge Energy has produced over 200 million gross operated barrels of oil equivalent.
What advancements has Surge Energy made in sustainability?
Surge Energy has implemented water recycling initiatives and reduced emissions through innovative infrastructure and equipment.
Where is Surge Energy headquartered?
Surge Energy is headquartered in Houston, Texas, where it operates and manages a large land portfolio in the Permian Basin.
