Surge Energy Inc. SGY-T ended 2021 producing 21,500 barrels of oil equivalent per day. This year, Surge hopes to reduce net debt to a range of $250-million to $265-million. At that point, Surge could visit the possibility of reinstating its dividend. While a lot will probably depend on oil prices, insiders seem optimistic. Since Dec. 13, three insiders who are either officers or directors have spent a total of $523,540 buying shares in the market. The buying helped put Surge back into our most recent Energy Top 30 Report.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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