April 19 (Reuters) - Surge Energy Inc SGY.TO :
* Surge Energy Inc announces $37 million core sparky area acquisition; upward revision to 2017 guidance; increased dividend
* Acquisition is accretive to surge on all key per share metrics
* Surge will now be delivering production growth of more than 24 percent from Q2/16 to end of Q4/17
* Pursuant to core sparky area acquisition referenced herein, Surge is now revising upward company's 2017 guidance
* Sees 2017 average production of 14,450 BOE/D
* Sees 2017 exit production 15,150 BOE/D
* Surge revised upward company's 2017 average daily production estimate to 14,000 boepd from 13,500 boepd
* Sees 2017 total capital spending (including acquisitions) $124 million
* Sees operating expenses for H2 2017 of $12.00-$12.50/boe
* Board will look to increase dividend by about 11.8 percent per year from $0.085 per year ($0.00708 per month) to $0.095 per year
* Confirms its banking syndicate increased Surge's bank line limit (pro-forma acquisition) from previous $250 million to $285 million Source text for Eikon: ID:nCNW3CrWya Further company coverage: SGY.TO