Surge Energy Expands Its Portfolio with New Well Development
Surge Energy Completes 17 Well Farm-In Development
Surge Energy US Holdings Company, commonly known as Surge Energy, has proudly announced the successful completion of its 17 well farm-in development project. This initiative marks a significant milestone in the company’s ongoing efforts to expand its acreage and production capabilities.
Overview of the 17 Well Development
The Company finalized its farm-in transaction, which involved bearing the full costs associated with drilling, completing, and connecting to production facilities. This development, undertaken in a new operational area referred to as Howard South, underscores Surge Energy’s commitment to maximizing efficiency and innovation in its drilling operations.
Recent Activities and Progress
In its latest operational phase, the Company brought the final wells online, achieving this success after initiating drilling activities earlier in the year. This project has proven to be instrumental in advancing Surge Energy's strategic objectives and enhancing its drilling inventory.
Strategic Growth Initiatives
Surge Energy’s recent farm-in project is the third of its kind in recent years, showcasing the Company’s proactive approach to asset growth. Senior Vice President of Development and Operations, Chris Alonzo, commented on how the new development allows Surge to leverage its expertise in low-cost development, particularly in proximity to existing assets.
Expert Insights on Farm-In Transactions
Alonzo highlighted that these farm-in opportunities arise from Surge Energy's strong industry reputation and commitment to operational excellence. The ability to acquire more drillable inventory through creative strategies has played a crucial role in the Company’s growth trajectory.
Financial Outlook and Future Plans
Chief Financial Officer Travis Guidry shared insights about Surge Energy's multi-faceted growth strategy. He emphasized how the Company has consistently expanded its asset base through a combination of acquisitions, grassroots leasing, and organic growth initiatives. The latest farm-in is a testament to the innovative mindset of the Surge team.
Sustaining a Competitive Edge
By embracing diverse avenues for growth, Surge Energy has been able to sustain a competitive edge in the oil and gas sector. The Company is dedicated to enhancing its overall production capacity while continuing to focus on sustainable practices in the Petroleum industry.
About Surge Energy
Surge Energy operates as an independent oil and natural gas entity, focusing on the exploration, development, and production of oil and natural gas reserves predominantly located in the Midland Basin, which forms part of the larger Permian Basin. With its headquarters located in Houston, Texas, Surge Energy boasts significant holdings, encompassing around 180,000 net acres in the region.
Commitment to Responsible Operations
Surge Energy is committed to utilizing innovative technologies and responsible methods to ensure the efficient development of its resources while minimizing environmental impact.
Frequently Asked Questions
What has Surge Energy recently announced?
Surge Energy has announced the successful completion of a 17 well farm-in development project aimed at expanding its operational capacity.
Where is the 17 well development located?
The development project is located in a new operational area known internally as Howard South.
How does Surge Energy plan to grow its assets?
Surge Energy plans to grow its assets through a combination of acquisitions, grassroots leasing, and innovative development strategies.
Who is the Chief Financial Officer of Surge Energy?
The Chief Financial Officer of Surge Energy is Travis Guidry.
What is Surge Energy's main area of operation?
Surge Energy primarily operates in the Midland Basin, focusing on the exploitation and production of oil and natural gas reserves.
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