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BRIEF-Surge Energy Announces closing of $43 mm asset sales dividend reduction

Published 2016-04-07, 05:11 p/m
© Reuters.  BRIEF-Surge Energy Announces closing of $43 mm asset sales dividend reduction
SGY
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April 7 (Reuters) - Surge Energy Inc SGY.TO
* Surge Energy announces closing of $43 mm asset sales;
dividend reduction; and updates 2016 guidance
* Reaffirm company's 2016 capital spending plan
* Immediately reducing company's dividend from $0.15 per
share per year to $0.075 per share, per year
* Anticipates exiting 2016 with production of more than
13,000 boepd
* Surge energy inc says company will continue to identify
and pursue strategic, accretive acquisitions
* Does not anticipate any further dividend reductions at
this time

Source text for Eikon: ID:nCNWmrRhRa
Further company coverage: SGY.TO

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