Surge Energy America Announces Recent Acreage Acquisitions and Finalization of Houston Corporate Office Move

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Feb 16, 2023, 10:00 ET

HOUSTON, Feb. 16, 2023 /PRNewswire/ -- Surge Energy US Holdings Company ("Surge Energy" or the "Company") announces it has recently added incremental acreage to the Company's portfolio. Additionally, earlier this month the company finalized the previously announced move of its corporate office.

In 2022 and early 2023 the Company closed several bolt-on acreage transactions that totaled approximately 6,000 net acres. These transactions provide the Company with the opportunity to extend horizontal well lateral lengths, increase working interest in existing units, or add new inventory within the Company's existing acreage footprint in Howard and Borden counties.

Additionally, the Company acquired a substantial acreage position in Dawson and Gaines Counties in the northern Midland Basin that included several existing wellbores. The Company plans to test opportunities for oil well commerciality in 2023.

All of these transactions were from undisclosed sellers.

The Company recently finalized its Houston Corporate office move to 11330 Clay Road, Suite 200 in Houston, Texas. The building, located just north of the energy corridor in west Houston, better accommodates the Company's growing workforce.

"Surge continues to be focused on growing our business," stated Chief Executive Officer Linhua Guan. "These transactions increase the Company's footprint as well as give Surge the exciting opportunity to test a new area in Dawson and Gaines Counties."

About Surge Energy

Surge Energy is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 114,000 net acres in the Permian Basin as of Q3 2022. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information

Investor Relations
Email: [email protected]
Phone: 832-333-2400

SOURCE Surge Energy