__________________________________________________________________________________________________ Surge
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How Surge Energy is ensuring long-term sustainable growth
Since forming in 2015 Surge Energy ( Surge ) has been focused on growing a long-term , sustainable oil and gas company . Travis Guidry , Vice President of Corporate Development and Investor Relations , outlines this journey . “ The company began by acquiring two assets in Texas , the first is a 5000-acre water flood asset in Crosby County , the second is a 76,000- acre position in the Northern Midland Basin , a sub-basin of the Permian Basin and has been a key growth asset for the company .
“ The acreage in the Northern Midland Basin has grown significantly through bolt-on acquisitions and now sits at 105,000 acres . Key expansions of 10,000 acres in 2019 and 22,000 acres in 2021 have both been key drivers of the business setting an annual production record of just over 61,000 barrels of oil equivalent per day in 2023 . Production has grown over 15 times the initial rate of 2015 , and we have a proven track record of organic growth , growth via acquisitions , and testing of new intervals .”
Senior Vice President of Development and Operations , Chris Alonzo elaborates further . “ Surge ’ s strong results to date come from not only developing our legacy acreage position but also from our success in acquiring and
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