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Surge Energy raises 2026 guidance, boosts capital spending, and offers 16.9% free cash flow yield at US$80 WTI.

Market News
02 Jun 2026
Seeking Alpha
View Source
Bullish
pluang ai news

Surge Energy has increased its 2026 production guidance to 24,000 boe/d and raised capital spending to C$175 million, targeting C$335 million in adjusted funds flow (AFF) at US$80 WTI. The company currently offers a 16.9% free cash flow yield and plans around C$92 million in shareholder returns through dividends and buybacks. This update strengthens the investment case with a projected 95% upside based on a PV10 valuation of C$19.5 per share, reflecting confidence in Surge's growth and cash flow generation at current oil prices.

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