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Surge Energy Makes 'Exciting Reentry' with Astra Oil Acquisition

Surge Energy Makes ‘Exciting Reentry’ with Astra Oil Acquisition
Surge Energy had previously exited the region through the sale of its southeast Saskatchewan and Manitoba assets in 2015 to Torc Oil & Gas for CA$430 million.
Hart Energy Staff
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Surge Energy Inc. agreed to acquire Astra Oil Corp., which the company said represents an “exciting reentry” into southeast Saskatchewan for the Surge team.
The Astra acquisition will be funded through the issuance of Surge common shares and the assumption of approximately CA$15 million of net debt for total consideration of roughly CA$160 million. The assets include more than 4,100 boe/d (90% liquids) of operated, light oil production with an operating netback of more than $42 per boe at US$65 WTI pricing. ....

Paul Colborne , Torc Oil Gas Ltd , Surge Energy Inc , National Bank Financial Inc , Astra Oil Corp , Duckworth Palmer , Surge Energy , Torc Oil , Western Canadian Sedimentary Basin , Bank Financial , பால் கோல்போர்ன் , டோர்க் எண்ணெய் வாயு லிமிடெட் , எழுச்சி ஆற்றல் இன்க் , தேசிய வங்கி நிதி இன்க் , அஸ்ட்ரா எண்ணெய் கார்ப் , டக்வொர்த் பாமர் , எழுச்சி ஆற்றல் , டோர்க் எண்ணெய் , வங்கி நிதி ,

Drilling season peaking with 31 rigs working

Estevan– Mid-February to the first week of March is traditionally the peak of the year for oilwell drilling activity. And on Feb. 22, there were 31 drilling rigs working in Saskatchewan, down markedly from the previous two years.

According to Rig Locator (riglocator.ca), in 2020 there were 65 rigs working on the same date, and 52 rigs working on that date in 2019. During the boom years, from 2008-2014, there would be closer to 100 rigs working.

While the current number couldn’t be considered great by any means, it is significantly higher than the zero rigs that were drilling in the first part of the summer of 2020, when oil markets were initially recovering from the shock of the COVID-19 pandemic. ....

United States , Souris River , Battle Creek , Gull Lake , Cut Knife , North Battleford , North Saskatchewan River , Canada General , Roche Percee , Midale Petroleums , Gear Energy , Crescent Point Energy , Astra Oil Corp , Crescent Point Energy Corp , Teine Energy Ltd , Ridgeback Resources Inc , Fire Sky Energy Inc , Cenovus Energy Inc , Saskatchewan Ltd , Karve Energy Inc , Torc Oil Gas Ltd , Earth Energy Production Corp , Aldon Oils Ltd , Tundra Oil , Serafina Energy Ltd , Hummingbird Energy ,

Drilling season peaking with 31 rigs working

Drilling season peaking with 31 rigs working
carlyleobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from carlyleobserver.com Daily Mail and Mail on Sunday newspapers.

United States , Souris River , Battle Creek , Gull Lake , Cut Knife , North Battleford , North Saskatchewan River , Canada General , Roche Percee , Midale Petroleums , Gear Energy , Crescent Point Energy , Astra Oil Corp , Crescent Point Energy Corp , Teine Energy Ltd , Ridgeback Resources Inc , Fire Sky Energy Inc , Cenovus Energy Inc , Saskatchewan Ltd , Karve Energy Inc , Torc Oil Gas Ltd , Earth Energy Production Corp , Aldon Oils Ltd , Tundra Oil , Serafina Energy Ltd , Hummingbird Energy ,

Twenty-nine drilling rigs in the field in early January

One week into the new year, Saskatchewan’s drilling rig fleet is up and running, with 29 rigs in the field on Jan. 8, according to Rig Locator (riglocator.ca). Those 29 rigs also mark a high . . . ....

Paradise Hill , Blake Alma , Flat Lake , United States , Swift Current , Kiyiu Lake , Brightsand Lake , Rush Lake , Eagle Lake , North Saskatchewan River , Canada General , Cenovus Energy , American Helium Inc , Astra Oil Corp , Crescent Point Energy Corp , Triland Energy Inc , Whitecap Resources Inc , Teine Energy Ltd , Canadian Natural Resources , Torc Oil Gas , Baytex Energy Ltd , Spectrum Resource Group Inc , Royal Helium Ltd , Gear Energy Ltd , Rig Locator , North American Helium Inc ,

New helium developments highlight drilling activity

Estevan – One week into the new year, Saskatchewan’s drilling rig fleet is up and running, with 29 rigs in the field on Jan. 8, according to Rig Locator (riglocator.ca). Those 29 rigs also mark a. . . ....

Paradise Hill , Blake Alma , Flat Lake , United States , Swift Current , Kiyiu Lake , Brightsand Lake , Rush Lake , Eagle Lake , North Saskatchewan River , Canada General , Cenovus Energy , American Helium Inc , Astra Oil Corp , Crescent Point Energy Corp , Triland Energy Inc , Whitecap Resources Inc , Teine Energy Ltd , Canadian Natural Resources , Torc Oil Gas , Baytex Energy Ltd , Spectrum Resource Group Inc , Royal Helium Ltd , Gear Energy Ltd , Rig Locator , North American Helium Inc ,