Surge Energy ____________________________________________________________________________________________________
anniversary this year , Travis highlights some key contributing factors to the ongoing success . “ Surge has grown to the company it is today thanks to our employees ’ work ethic and strong technical capabilities , our operational excellence , our strong underlying assets , and our conservative financial approach .
Improving efficiencies
“ Beginning with work ethic and strong technical capabilities , we purposefully run a lean organization with people who have a proven track record of technical capabilities and innovation . Our staff excels at problem solving and have proven their willingness to put in extra effort to meet and exceed our corporate goals year after year . Through operational excellence , we maintain a toptier cost structure , from our investment in water and electrical infrastructure to developing key long-term partnerships , and constantly improving efficiencies .
“ Our financial strategy has positioned us to weather volatile commodity price markets . Surge has generated free cash flow for four consecutive years that has allowed us to reduce our net debt by over $ 1 billion from the end of 2021 to the second quarter of 2024 . As we approach our ten-year anniversary , Surge has significant liquidity to facilitate continued growth ; from the perspective of the balance sheets , we are the healthiest we ’ ve ever been with a liquidity of over $ 1.2 billion .”
Surge has also made a substantial contribution to the Texas economy . “ We estimate the contribution to the state ’ s economy cumulatively since our inception totals approximately $ 10 billion . This includes cumulative oil and gas revenues , royalty and working interest payments , and production taxes since the company ’ s inception in 2015 .” Looking to the future , the business is aiming to capitalize on its position of strength . Travis elaborates on the plans : “ We are actively seeking to continue to grow responsibly . We believe the oil and gas industry remains a vital part of the Texas and global economies and we aim to increase our footprint and operations in oil-producing basins .” ■
www . surgeenergya . com
152