Surge Energy Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2014

 Published On: Jun, 2015 |    No of Pages: 91 |  Published By: GlobalData | Format: PDF
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Summary

Surge Energy Inc. Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational data, analysis and strategic insight into company. The report provides latest annual and quarterly overview of production, reserves, share price performance, reserve changes, capital expenditures, acreage, performance metrics and results of oil & gas operations.

Scope

The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes -
- The report provides detailed and unique insights information on the key operational parameters. The report provides a comprehensive overview of production, reserves, reserve changes, capital expenditures, acreage, performance metrics, and results of oil & gas operations.
- Provides analysis of the share price performance of the company and the key valuation multiples. The report provides a comprehensive overview of share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides annual and quarterly information on key operational and financial parameters. Annual information is for the current and the last four years while the quarterly information is for the current and the last four quarters
- The report provides detailed crude oil and natural gas reserves and production information of the company by country as disclosed in their annual report and regulatory filings.
- Contains in-depth and latest information on exploration, development, finding & development, acquisition expenditure, gross and net developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in their annual report and regulatory filings.

Note: Scope of the report mentioned above is generic and may not be applicable to all the companies. The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.

Quarterly information is covered only for those companies which are December ending and files quarter report. There might be cases where countries/regions data column/Charts will be blank for last five years. This is due to companies might have discontinued reporting of that countries/regions during the last five year time period.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Provides up-to-date information and in-depth analysis on operational parameters of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational parameters of your competitors.
- Rank your performance against other E&P companies using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational parameters.
- Establish relative performance among the industry’s players based on key operational and financial measures.

Table of Contents
Table of Contents 2
List of Tables 5
List of Figures 6
Company Snapshot 8
Key Information 8
Company Overview 8
Surge Energy Inc., Valuation and Financial Data 9
Surge Energy Inc., Share Price Performance 9
Share Price Performance, Q4, 2013-Q4, 2014 9
Surge Energy Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q4, 2013-Q4, 2014 10
Surge Energy Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q4, 2013-Q4, 2014 11
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2013-Q4, 2014 12
Surge Energy Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q4, 2013-Q4, 2014 13
Surge Energy Inc., Quarterly Production Trends 14
Surge Energy Inc., Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q4, 2013-Q4, 2014 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2013-Q4, 2014 15
Surge Energy Inc., Crude Oil Production 16
Total Crude Oil Production Trend, Q4, 2013-Q4, 2014 16
Crude Oil Production, By Country/Region, Q4, 2013-Q4, 2014 17
Surge Energy Inc., Natural Gas Production 18
Total Natural Gas Production Trend, Q4, 2013-Q4, 2014 18
Natural Gas Production, By Country/Region, Q4, 2013-Q4, 2014 19
Surge Energy Inc., Valuation and Financial Data, 2010-2014 20
Surge Energy Inc., Share Price Performance, 2010-2014 20
Share Price Performance, 2010-2014 20
Key Valuation Metrics, 2010-2014 21
Surge Energy Inc., Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2010-2014 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2010-2014 24
Total Crude Oil and Natural Gas Reserve Changes, 2010-2014 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2010-2014 27
Crude Oil Production and Reserves By Country/Region, 2010-2014 28
Crude Oil/Liquids Reserve Changes, 2010-2014 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2010-2014 31
Natural Gas Production and Reserves, By Country/Region, 2010-2014 32
Natural Gas Reserve Changes, 2010-2014 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2010-2014 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2010-2014 36
Surge Energy Inc., E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2010-2014 38
Acquisition Costs By Country/Region, 2010-2014 39
Exploration and Development Costs, By Country/Region, 2010-2014 40
Oil and Gas Cost Per boe, US$/boe 41
Oil and Gas Cost Per boe, US$/boe, 2010-2014 41
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2010-2014 43
Surge Energy Inc., Reserve Replacement Ratio 44
Oil and Gas Production Replacement Ratio 44
Oil and Gas Production Replacement Ratio, 2010-2014 44
Oil and Gas Production Replacement Ratio, By Country/Region, 2010-2014 46
Surge Energy Inc., Results of Oil & Gas Operations Trend 47
Oil and Gas Revenue and Expenses 47
Oil and Gas Revenue and Expenses, 2010-2014 47
Oil and Gas Revenue and Expenses, By Country/Region, 2010-2014 48
Oil and Gas Revenue and Expenses, Per boe 53
Oil and Gas Revenue and Expenses, By boe, 2010-2014 53
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2010-2014 54
Oil and Gas Performance Metrics 58
Surge Energy Inc., Land Holdings and Well Data 59
Developed and Undeveloped Acreage 59
Gross and Net Developed and Undeveloped Acreage, 2010-2014 59
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2010-2014 60
Well Statistics 62
Producible Oil and Gas Well, 2010-2014 62
Producible Oil and Gas Well, By Country/Region, 2010-2014 63
Exploration and Development Wells Drilled, 2010-2014 68
Exploration and Development Wells Drilled, By Country/Region, 2010-2014 69
Recent Developments 70
Surge Energy Inc. - Recent Developments 70
May 12, 2015: Surge Energy Announces Record First Quarter Production 70
Apr 27, 2015: Surge Energy Announces Continued Expansion Of Crude Oil Discovery At Shaunavon, Saskatchewan; And $430 Million Asset Sale Of SE Saskatchewan And Manitoba 73
Apr 27, 2015: Surge Energy Announces Continued Expansion Of Crude Oil Discovery At Shaunavon, Saskatchewan; And $430 Million Asset Sale Of SE Saskatchewan And Manitoba 74
Mar 19, 2015: Surge Energy Announces Record 2014 Year-End Results And Files Annual Information Form 74
Feb 16, 2015: Surge Energy Confirms February 2015 Dividend 78
Feb 11, 2015: Surge Energy Announces A 52 Percent Increase In 2014 Year End Reserves 78
Feb 11, 2015: Surge Energy Announces A 52 Percent Increase In 2014 Year End Reserves, New Net Asset Value Of $7.36 Per Share; Sale Of Non-core Assets For $35.6 Million; Record Weekly Production; New Bank Line Review 79
Jan 15, 2015: Surge Energy Confirms January 2015 Dividend 83
Jan 07, 2015: Surge Energy Exceeds 2014 Exit Rate; Announces Capital Program For First Half Of 2015; Reduces Dividend 83
Dec 15, 2014: Surge Energy Confirms December 2014 Dividend 88
Appendix 89
Methodology 89
Coverage 89
Secondary Research 89
Primary Research 89
Data Information Sources 90
Company Source 90
SEC/Other Regulatory Filings 90
Other Sources 90
Expert Panel Validation 90
Data Definition 90
Oil and Gas Reserves 90
Units of Measure 91
About GlobalData 91
Disclosure 91
Disclaimer 91

List of Tables
Table 1: Surge Energy Inc., Key Facts 8
Table 2: Surge Energy Inc., Share Price Performance, Q4, 2013-Q4, 2014 9
Table 3: Surge Energy Inc., Key Valuation Metrics, Q4, 2013-Q4, 2014 10
Table 4: Surge Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2013-Q4, 2014 11
Table 5: Surge Energy Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2013-Q4, 2014 12
Table 6: Surge Energy Inc., Upstream Capital Expenditure, Q4, 2013-Q4, 2014 13
Table 7: Surge Energy Inc., Total Crude Oil and Natural Gas, Production, Q4, 2013-Q4, 2014 14
Table 8: Surge Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2013-Q4, 2014 15
Table 9: Surge Energy Inc., Total Crude Oil Production, mmbbl, Q4, 2013-Q4, 2014 16
Table 10: Surge Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2013-Q4, 2014 17
Table 11: Surge Energy Inc., Total Natural Gas Production, bcf, Q4, 2013-Q4, 2014 18
Table 12: Surge Energy Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2013-Q4, 2014 19
Table 13: Surge Energy Inc., Share Price Performance, 2010-2014 20
Table 14: Surge Energy Inc., Key Valuation Metrics, 2010-2014 21
Table 15: Surge Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 23
Table 16: Surge Energy Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2010-2014 25
Table 17: Surge Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2010-2014 26
Table 18: Surge Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Table 19: Surge Energy Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2010-2014 29
Table 20: Surge Energy Inc., Crude Oil Reserve Changes, mmbbl, 2010-2014 30
Table 21: Surge Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Table 22: Surge Energy Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2010-2014 33
Table 23: Surge Energy Inc., Natural Gas Reserve Changes, bcf, 2010-2014 34
Table 24: Surge Energy Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 35
Table 25: Surge Energy Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2010-2014 37
Table 26: Surge Energy Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 38
Table 27: Surge Energy Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Table 28: Surge Energy Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2010-2014 40
Table 29: Surge Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 42
Table 30: Surge Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2010-2014 43
Table 31: Surge Energy Inc., Oil and Gas Production Replacement Ratio, %, 2010-2014 45
Table 32: Surge Energy Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2010-2014 46
Table 33: Surge Energy Inc., Revenue and Expenses, US$ mil, 2010-2014 47
Table 34: Surge Energy Inc., Revenue and Expenses, By Country/Region, US$ mil, 2010-2014 52
Table 35: Surge Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 53
Table 36: Surge Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2010-2014 57
Table 37: Surge Energy Inc., Oil and Gas Performance Metrics, 2010-2014 58
Table 38: Surge Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 59
Table 39: Surge Energy Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2010-2014 61
Table 40: Surge Energy Inc., Producible Oil and Gas Wells, 2010-2014 62
Table 41: Surge Energy Inc., Producible Oil and Gas Wells, By Country/Region, 2010-2014 67
Table 42: Surge Energy Inc., Exploratory and Developed Wells, 2010-2014 68
Table 43: Surge Energy Inc., Exploratory and Developed Wells, By Country/Region, 2010-2014 69

List of Figures
Figure 1: Surge Energy Inc., Share Price Performance, CAD/Share, Q4, 2013-Q4, 2014 9
Figure 2: Surge Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2013-Q4, 2014 10
Figure 3: Surge Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2013-Q4, 2014 11
Figure 4: Surge Energy Inc., Upstream Capital Expenditure, US$ mil, Q4, 2013-Q4, 2014 13
Figure 5: Surge Energy Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2013-Q4, 2014 14
Figure 6: Surge Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2013-Q4, 2014 15
Figure 7: Surge Energy Inc., Total Crude Oil Production, mmbbl, Q4, 2013-Q4, 2014 16
Figure 8: Surge Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2013-Q4, 2014 17
Figure 9: Surge Energy Inc., Total Natural Gas Production, bcf, Q4, 2013-Q4, 2014 18
Figure 10: Surge Energy Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2013-Q4, 2014 19
Figure 11: Surge Energy Inc., Share Price Performance, CAD/Share, 2010-2014 20
Figure 12: Surge Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2010-2014 21
Figure 13: Surge Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 22
Figure 14: Surge Energy Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2010-2014 24
Figure 15: Surge Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2010-2014 24
Figure 16: Surge Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2014 26
Figure 17: Surge Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Figure 18: Surge Energy Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2010-2014 28
Figure 19: Surge Energy Inc., Oil Production, By Country/Region, mmbbl, 2010-2014 28
Figure 20: Surge Energy Inc., Crude Oil Reserve Changes, mmbbl, 2014 30
Figure 21: Surge Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Figure 22: Surge Energy Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2010-2014 32
Figure 23: Surge Energy Inc., Gas Production, By Country/Region, bcf, 2010-2014 32
Figure 24: Surge Energy Inc., Natural Gas Reserve Changes, bcf, 2014 34
Figure 25: Surge Energy Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 35
Figure 26: Surge Energy Inc., Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 27: Surge Energy Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 28: Surge Energy Inc., Oil Reserve Life Index, By Country/Region, Years, 2010-2014 37
Figure 29: Surge Energy Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 38
Figure 30: Surge Energy Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Figure 31: Surge Energy Inc., Development Costs, By Country/Region, US$ mil, 2010-2014 40
Figure 32: Surge Energy Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 41
Figure 33: Surge Energy Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2010-2014 44
Figure 34: Surge Energy Inc., Revenue and Expenses, US$ mil, 2010-2014 47
Figure 35: Surge Energy Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 48
Figure 36: Surge Energy Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 48
Figure 37: Surge Energy Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 49
Figure 38: Surge Energy Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2010-2014 49
Figure 39: Surge Energy Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 50
Figure 40: Surge Energy Inc., Production Costs, By Country/Region, US$ mil, 2010-2014 50
Figure 41: Surge Energy Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 51
Figure 42: Surge Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 53
Figure 43: Surge Energy Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2010-2014 54
Figure 44: Surge Energy Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2010-2014 54
Figure 45: Surge Energy Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2010-2014 55
Figure 46: Surge Energy Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2010-2014 55
Figure 47: Surge Energy Inc., Total DD&A per boe, By Country/Region, US$/boe, 2010-2014 56
Figure 48: Surge Energy Inc., Total Revenue per boe, By Country/Region, US$/boe, 2010-2014 56
Figure 49: Surge Energy Inc., Oil and Gas Performance Metrics, 2010-2014 58
Figure 50: Surge Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 59
Figure 51: Surge Energy Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2010-2014 60
Figure 52: Surge Energy Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2010-2014 60
Figure 53: Surge Energy Inc., Producible Oil and Gas Wells, 2010-2014 62
Figure 54: Surge Energy Inc., Gross Productive Gas Wells, By Country/Region, Number, 2010-2014 63
Figure 55: Surge Energy Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 63
Figure 56: Surge Energy Inc., Gross Productive Oil Wells, By Country/Region, Number, 2010-2014 64
Figure 57: Surge Energy Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2010-2014 64
Figure 58: Surge Energy Inc., Net Productive Gas Wells, By Country/Region, Number, 2010-2014 65
Figure 59: Surge Energy Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 65
Figure 60: Surge Energy Inc., Net Productive Oil Wells, By Country/Region, Number, 2010-2014 66
Figure 61: Surge Energy Inc., Exploratory and Developed Wells, 2010-2014 68


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