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Surge ups exit production forecast in drilling successes
Surge Energy Inc. increased Q1 production in 2011 to 5,076 boe/d, up 89% from an average of 2,686 boe/d in the first quarter of 2010 and up 27% from an average of 4,005 boe/d in the fourth quarter of 2010. With the closing of its recently announced North Dakota acquisitions Surge now has a land base of more than 500,000 net acres, internally estimated DPIIP of more than 460 million barrels (gross) and more than 460 gross (350 net) oil drilling locations comprised of 85% light oil, with the re...
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