Surge Energy Inc. Provides Operating Guidance for the Year 2018; Provides Capital Expenditure Guidance for the Year of 2018; Provides Earnings Guidance for the Second Half of 2018
May 15, 2018 at 04:40 pm EDT
Surge Energy Inc. provided operating guidance for the year 2018. For the year, the company expected average production of 16,585 boe/d compared with 16,585 boe/d a USD 75 WTI 2018 guidance. Exit Production of 17,175 boe/d compared with 17,175 boe/d a USD 75 WTI 2018 guidance.
For the year 2018, the company expected total 2018 capital spending of $105 million compared to $105 million a USD 75 WTI 2018 guidance.
For the second half 2018, the company expected Revenue of 14%-15% compared to 15%-16% a USD 75 WTI 2018 guidance. Annualized adjusted funds flow of $149 million compared to $190 million a USD 75 WTI 2018 guidance. Annualized Adjusted Funds Flow per Share of $0.65 compared to $0.82 a USD 75 WTI 2018 guidance.