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Take a look back at some of the milestones and achievements of CGCC member company Surge Energy in 2021.
Source: Surge Energy America
- March 29, 2021, Surge Energy published its first annual Corporate Sustainability Report, and highlights of the report included gas flaring volumes reductions of greater than 60% in 2020 relative to 2019, despite an increase of gross produced gas volume by approximately 13%, and track performance on ESG Topics, and Key Performance Indicators for HSE are included in compensation program for all employees and management.
-March 31, 2021, Surge announced that it has completed the acquisition of leasehold interest and producing wells from Grenadier in Howard County, TX and the aggregate purchase price was $420 million.
-June 3, 2021, Surge announced the use of dual fuel completions on a multi-well, multi-zone pad in its Moss Creek field which yielded a GHG emissions reduction of approximately 845 metric tons (1.86 million pounds) of CO2e Emissions.
-June 30, 2021, Surge announced it surpassed 100 million gross barrels of oil equivalent produced since 2016 and has made a substantial economic impact in Texas as evidenced by over $1 billion being distributed as royalty and tax payments. Moreover, the company was listed in Houston Chronicle's Top Private Companies headquartered in Houston, TX.
-June 2021, Linhua Guan won the "Global CEO Excellence 2021 - Oil & Gas CEO of the Year (USA)" award from "CEO Monthly". This award is a recognition of Linhua Guan’s leadership, and also a recognition of Surge's contribution to the oil and gas industry. At the same time, he was the only CEO from E&P industry recognized by Houston Business Journal (HBJ) for the 2021 Most Admired CEO award.
-August 11, 2021, Surge announced it has acquired leasehold interest and wells from Apache in Howard County, TX and the aggregate purchase price was $37.5 million. August 19, 2021, Surge Energy announced top quartile water conservation performance in the Permian Basin per an industry benchmarking survey. Surge was a top performer in the survey for both freshwater and methane intensity.
-September 8, 2021, Surge announced being recognized on the HBJ's 2021 Best Places to Work honor. Surge is the only onshore oil and gas production company recognized for this honor in2021, and the only oil and gas production company recognized consecutively in 2020 and 2021.
-September 24, 2021, Surge won the HBJ's 2021 Innovation Award for the electrifying Surge’ operations which has significant environmental impact by reduction of about 150,000 tons of CO2 emissions per year. Moreover, the company also won HBJ's 2019 Inaugural Innovation Award.
-September 28, 2021, Surge was named a finalist in four categories in the 23rd annual S&P Global Platts Global Energy Awards. Surge Energy's CEO Linhua Guan was named a finalist in the Chief Trailblazer of the Year category.
-October 4, 2021, Surge announced the completion of an amendment to the existing amended and restated revolving credit facility and the facility’s total borrowing base was increased from $850 million to $1.2 billion.