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Home CompaniesSurge Energy Inc.

Surge Energy Inc.

Energy Oil & Gas E&P
PortfolioPortfolio WatchlistWatchlist
Company price
10.92 CAD -0.80 ( 6.83%)
Last update at 2026-11-04T18:42:00Z
VOLUME
865621
Market Cap
878.70M
P/E
22.23

Momentum Score

…

Surge Energy Inc. engages in the exploration, development, and production of oil and gas properties in Western Canada. It holds interests in the oil and natural gas producing properties located in Sparky Alberta and Southeast Saskatchewan, as well as in Greater Sawn and Nevis, and Manitoba properties. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc. in June 2010. Surge Energy Inc. was incorporated in 1998 and is headquartered in Calgary, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
10.84
Low
11.49
High
52 Week Price Range
4.24
Low
9.70
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Surge Energy Inc. is a Calgary-based independent oil and gas producer focused on light oil and NGLs in Alberta and Saskatchewan. Long-term growth drivers may include higher commodity prices, development drilling, acquisitions and operational efficiencies that could support production and cash flow. Investors may find the company attractive for its concentrated upstream asset base and disciplined capital allocation approach.

Principal risks are commodity-price volatility, execution and integration risk from drilling and acquisitions, Canadian transportation/differentials, regulatory and environmental policy shifts and natural reserve decline.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
11.72
Dividend Yield
5.98%
Revenue TTM
480.72M
Revenue Per Share
4.84
Gross Profit TTM
310.44M
Debt / Equity
0.34
ROE
5.50%
Net Debt
225.23M
ROCE
6.75%
Diluted EPS TTM
0.40

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 54.02M -70.38M 20.62M 159.40M 396.22M
Net income 40.26M -53.72M 15.75M 231.72M 407.61M
Selling general administrative 30.88M 29.66M 19.16M 32.82M 24.26M
Selling and marketing expenses - - 8.77M - -
Gross profit 114.28M 356.90M 348.63M 464.61M 243.96M
Reconciled depreciation 185.75M 188.48M 172.38M 142.32M 112.22M
Ebit 82.89M -33.65M 56.19M 264.21M 102.05M
Ebitda 279.05M 163.24M 307.51M 406.53M 214.27M
Depreciation and amortization 196.16M 196.89M 251.32M 142.32M 112.22M
Operating income 82.89M 121.49M 114.72M 264.21M 102.05M
Other operating expenses 397.83M 543.81M 443.92M 466.52M 310.45M
Interest expense 30.55M 35.84M 38.85M 30.25M 31.65M
Tax provision 13.76M -16.66M -61.60M -72.32M -11.39M
Net interest income -30.55M -35.84M -43.44M -32.04M -31.65M
Income tax expense 13.76M -16.66M 4.87M -72.32M -11.39M
Total revenue 480.72M 665.29M 558.64M 734.47M 414.64M
Total operating expenses 31.39M 235.41M 27.93M 196.66M 139.76M
Cost of revenue 366.44M 308.40M 210.01M 269.86M 170.68M
Total other income expense net -28.87M -191.87M -94.10M -104.81M 294.17M
Net income from continuing ops 40.26M -53.72M 148.93M 231.72M 407.61M
Net income applicable to common shares - -53.72M 15.75M 231.72M 407.61M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 1324.51M 1366.15M 1480.76M 1550.08M 1275.45M
Other current assets 10.57M - 10.06M 1.48M 3.15M
Total liab 599.53M 627.64M 636.79M 711.75M 762.06M
Total stockholder equity 724.98M 738.51M 843.98M 838.32M 513.38M
Other current liab 14.29M 4.11M 12.26M 16.80M 42.02M
Common stock 1741.04M - 1790.56M 1765.44M 1654.21M
Capital stock 1741.04M 1767.74M - 1765.44M 1654.21M
Retained earnings -1135.90M -1124.58M -1020.50M -988.79M -1199.24M
Other liab - - - 253.66M 298.66M
Other assets - - - 77.06M -
Cash 18.65M 7.59M - -28.80M -31.06M
Cash and equivalents - - - - 0.00M
Total current liabilities 96.53M 118.70M 122.05M 141.43M 180.02M
Current deferred revenue - - 4.01M - -
Net debt 225.23M 208.90M 282.18M 376.72M 368.12M
Short term debt 17.23M - 20.39M 31.26M 53.67M
Short long term debt 2.38M 0.71M - 24.85M 45.97M
Short long term debt total 243.89M - 282.18M 347.92M 337.06M
Other stockholder equity 113.47M - 67.55M 61.67M 58.41M
Property plant equipment - - - 1407.88M 1216.56M
Total current assets 75.04M 75.61M 63.41M 65.14M 58.89M
Net tangible assets - - - 838.32M 513.38M
Net receivables 45.81M 58.33M 53.35M 60.62M 55.74M
Long term debt 216.53M 215.78M - 294.27M 260.02M
Inventory - - - - 31.06M
Accounts payable 65.02M 95.43M 85.39M 93.37M 84.33M
Accumulated other comprehensive income 6.38M - 6.38M - -
Non currrent assets other - - 67.09M 0.66M -
Non current assets total 1249.47M 1290.54M 1417.35M 1484.94M 1216.56M
Capital lease obligations 24.98M 15.63M - 28.80M 31.06M
Long term debt total - - - 316.66M 283.38M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - -153.00M -339.05M -332.27M -16.00M
Change to liabilities - - - 0.00M 0.00M
Total cashflows from investing activities -181.67M -153.00M -177.56M -332.27M -16.00M
Net borrowings -5.91M -52.97M -60.99M 2.52M -107.06M
Total cash from financing activities -73.18M -118.05M -88.58M 56.15M -84.48M
Change to operating activities - - - -4.27M 18.14M
Net income 40.26M -53.72M 15.75M 231.72M 407.61M
Change in cash 11.06M 7.59M 0.00M 0.00M 0.00M
Begin period cash flow 7.59M 0.00M 0.00M 0.00M 0.00M
End period cash flow 18.65M 7.59M 0.00M 0.00M 0.00M
Total cash from operating activities 265.90M 278.65M 266.14M 276.12M 100.48M
Issuance of capital stock - 0.00M 100.13M 80.50M 23.00M
Depreciation 196.16M 196.89M 256.30M 142.32M 112.22M
Other cashflows from investing activities -16.30M 45.64M 8.25M -162.33M 4.40M
Dividends paid 51.65M -50.02M -46.82M 17.90M 17.90M
Sale purchase of stock -8.68M -11.22M 19.63M 80.50M 23.00M
Other cashflows from financing activities -12.13M -3.84M -0.40M 111.27M 92.55M
Change to netincome - - - - -111.91M
Capital expenditures 165.48M 195.10M 181.57M 169.94M 103.79M
Change in working capital 0.00M 7.19M -9.35M -4.27M 18.14M
Stock based compensation 8.79M 9.01M 8.77M 4.92M 3.92M
Other non cash items 15.73M 135.94M -10.21M -26.25M -430.02M
Free cash flow 100.42M 83.54M 84.57M 106.18M -3.30M

Peer Comparison*

Sector: Energy Industry: Oil & Gas E&P

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
SGY
Surge Energy Inc.		 -0.80
6.83%		 10.92 22.23 24.88 1.83 1.19 1.87 4.08
CNQ
Canadian Natural Resources Ltd		 -4.77
6.36%		 70.20 11.45 12.38 3.26 2.78 3.15 6.36
OXY
Occidental Petroleum CDR (CAD Hedged)		 -1.25
4.99%		 23.78 42.29 13.11 2.65 2.04 3.96 7.33
TOU
Tourmaline Oil Corp.		 -2.81
4.24%		 63.47 87.74 15.80 5.03 1.50 3.97 7.33
OVV
Ovintiv Inc		 -4.71
5.07%		 88.26 11.06 7.80 2.46 1.34 2.39 6.40

Profile*

Surge Energy Inc.

Surge Energy Inc. engages in the exploration, development, and production of oil and gas properties in Western Canada. It holds interests in the oil and natural gas producing properties located in Sparky Alberta and Southeast Saskatchewan, as well as in Greater Sawn and Nevis, and Manitoba properties. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc. in June 2010. Surge Energy Inc. was incorporated in 1998 and is headquartered in Calgary, Canada.

Centennial Place ? East Tower, Calgary, AB, Canada, T2P 0R3

403 930 1010

https://www.surgeenergy.ca

86

Name Title Year Born
Mr. Paul Colborne Pres, CEO & Director 1959
Mr. Jared Ducs Chief Financial Officer NA
Mr. Murray Bye Chief Operating Officer NA
Ms. Margaret Ann Elekes Sr. VP of Land & Bus. Devel. NA
Mr. Derek Wayne Christie B.Sc., P.Geol. Sr. VP of Geosciences NA
Mr. Michael James Bennett Corp. Sec. NA
Mr. Paul Colborne President, CEO & Director 1959
Ms. Margaret Ann Elekes Senior Vice President of Land & Business Development NA
Mr. Derek Wayne Christie B.Sc., P.Geol. Senior Vice President of Geosciences NA
Mr. Michael James Bennett Corporate Secretary NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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