Investor News

Investor Relations: (832) 333-2400
InvestorRelations@SurgeEnergyA.com




Recent News & Updates

5/25/2022

Surge Energy America Announces Fitch First-Time Credit Rating and Stable Outlook

Houston, TX, May 25, 2022

May 25, 2022 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces Fitch Ratings (“Fitch”) has assigned a first-time 'B' Long-Term Issuer Default Rating (IDR) with a stable rating outlook to Moss Creek Resources Holdings, Inc. and Moss Creek Resources, LLC, subsidiaries of Surge Energy.

“We believe this rating initiation by Fitch demonstrates the quality of our assets, our strong track record as an operator, and our commitment to a disciplined financial strategy,” stated Chief Financial Officer James Welch.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 114,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Vice President of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


5/24/2022

Surge Energy America Announces Agreement with Gravity to Install Produced Water Recycling Facility

May 24, 2022 – Surge Energy US Holdings Company (“Surge” or the “Company”) announces it entered into an agreement with Gravity Water Midstream, LLC (“Gravity”) to install a produced water recycling facility in Howard County, Texas.

Surge initially began utilizing recycled produced water for completion operations in 2017. This practice both conserves fresh water and reduces operating expenses. This new facility built with Gravity will be the fourth recycling facility commissioned to support Surge’s acreage position and will allow Surge to use recycled produced water in substantially all completions going forward while reducing the water volumes distributed to saltwater disposal wells in the area.

“Surge has a long track record of using recycled produced water for fracking as demonstrated by the conservation of over 3.5 billion gallons of freshwater since we initiated the practice in 2017 and we are now expanding this practice with this facility to the acreage acquired in 2021,” stated Linhua Guan, Surge’s CEO. “We are excited to expand our partnership with Gravity on this project based on both companies’ shared commitment to protecting the environment.”

“Gravity is excited to enter into this partnership with Surge as we continue to expand our produced water recycling operations leveraging our dominant Howard County produced water gathering, disposal, and reuse supersystem,” says Trace Hight, Gravity’s Chief Commercial Officer. “This project with Surge will mark the 5th E&P operator in Howard County we have helped this year to reduce their freshwater sourcing needs by increasing delivery of our cost-effective and environmentally friendly produced water recycling solutions.”

About Gravity
Gravity Water Midstream, backed by affiliates of Clearlake Capital Group, L.P., is a leading provider of water management services to oil and gas companies in the Permian and Bakken basins. Gravity owns and operates more than 50 active saltwater disposal wells with more than 1.5 million barrels per day of permitted disposal capacity with the leading market share position by volumes in the Midland Basin. More information is available at www.gvty.com.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 114,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Vice President of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400

For Gravity:
Heather Heacock, (281) 640-3043
Marketing Communication Manager
Heather.heacock@gvty.com


4/21/2022

Surge Energy America Announces Moody's Credit Rating Upgrades

Houston, TX, April 21, 2022

April 21, 2022 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces upgraded credit ratings from Moody’s Investors Service (“Moody’s”) to Moss Creek Resources Holdings, Inc. (“Moss Creek”), a subsidiary of Surge Energy and issuer of the Company’s Senior Unsecured Notes (“Senior Notes”).

As announced by Moody's, the Corporate Family Rating was upgraded to B2 from B3 and the Senior Notes rating to B3 from Caa1.

“We believe this ratings action by Moody's demonstrates the quality of our assets and our commitment to a disciplined financial strategy.” stated Chief Executive Officer Linhua Guan.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 114,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Vice President of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


4/20/2022

Surge Energy America Announces Increased Borrowing Base and Elected Commitments of Revolving Credit Facility

Houston, TX, April 20, 2022

April 20, 2022 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces an increased borrowing base from $1.2 billion to $1.5 billion and elected commitments from $860 million to $935 million on the Company’s revolving credit facility (“Credit Facility”). The increases are in connection with the Credit Facility’s regularly scheduled semi-annual redetermination that recently closed.

As of March 31, 2022, the company had approximately $88 million in cash and $255 million drawn on the Credit Facility. Pro forma liquidity is approximately $768 million based on the March 31, 2022 cash on hand and undrawn elected commitments as of the close of the redetermination.

As part of the redetermination, the Credit Facility also switched benchmarks to the Secured Overnight Financing Rate (“SOFR”) from the sunsetting LIBOR.

“Surge greatly values the relationship and the continued support of our bank group,” stated Chief Financial Officer James Welch. “We believe the results of this redetermination demonstrate the quality of our assets and the strength of our people.”

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 114,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Vice President of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


4/5/2022

Surge Energy America Announces Strong Sustainability Performance Evidenced through Flaring Reduction and Water Management

Houston, TX, April 5, 2022

April 5, 2022 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces the Company achieved record low flare gas performance in 2021 and continued industry leadership in water management.

In 2021, the Company reduced its total flared gas percentage by approximately 60% compared to 2020. Flared gas percentage is the gross operated flared gas volumes as a percentage of total gross operated gas produced. The Company is committed to reducing GHG emissions by eliminating internally controlled flaring which the Company delivered in 2021 as evidenced by a 0.0 internally controlled flaring intensity metric. Internally controlled flaring intensity measures internally controlled flaring gas volumes relative to gross oil production barrels.

Surge Energy continues to be a leader in water management. The Company utilizes recycled produced water in completion operations, minimizing the need for fresh water. Over 80 million total barrels of freshwater have been conserved since the inception of the Company’s water recycling program in 2017. From mid-2018 through 2020, nearly all completions used recycled produced water. For the past three years, the Company’s water intensity was 0.4 or below, which was top quartile based on a 2021 industry comparison survey. Water intensity measures the volume of freshwater withdrawn from local sources for fracking operations relative to gross barrel of oil equivalent production.

“Surge is proud of our outstanding performance in GHG Emissions reduction and water management,” stated Chief Executive Officer Linhua Guan. “We are committed to delivering continued strong ESG performance by incentivizing our entire organization by setting 45% of our variable compensation targets tied to sustainability performance metrics.”

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 114,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Vice President of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


2/21/2022

Surge Energy to Present at J.P. Morgan Global High Yield & Leveraged Finance Conference

Houston, TX, February 21, 2022

February 21, 2022 — Surge Energy US Holdings Company (“Surge Energy” or the “Company”) today announced that it will be presenting and hosting one-on-one meetings at the J.P. Morgan Global High Yield & Leveraged Finance Conference in Miami Beach, FL from February 28 to March 2.

Chief Executive Officer, Linhua Guan, Chief Financial Officer, James Welch, and Vice President of Corporate Development & Investor Relations, Travis Guidry, will present and host one-on-one meetings at the conference.

Presentation materials will be provided to the Bondholder VDR the week of February 28.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 114,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Vice President of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


10/4/2021

Surge Energy America Announces Extended Maturity and Increased Elected Commitments of Revolving Credit Facility

Houston, TX, October 4, 2021

October 4, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces the completion of an amendment to the existing amended and restated revolving credit facility that, among other things, increases the elected commitments to $860 million and extends the maturity of the facility from April 2023 to October 2025.

The amendment to the Company’s amended and restated revolving credit facility is effective on October 4, 2021. The facility’s total borrowing base was increased from $850 million to $1.2 billion and elected commitments increased from $850 million to $860 million.

“Surge greatly values the continued and new support of the fifteen banks in our lending group,” stated Chief Executive Officer Linhua Guan. “We believe the confidence shown by these banks demonstrates their belief in Surge’s quality assets, innovative employees, and financial discipline.”

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 113,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


9/28/2021

Surge Energy America Selected as 2021 S&P Global Platts Global Energy Awards Finalist in Four Categories

Winners to be Announced December 9th at a black-tie gala in New York City

September 28, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) has been named a finalist in four categories in the 23rd annual S&P Global Platts Global Energy Awards. The 2021 Finalists were announced on September 23, 2021 by program host S&P Global Platts, the leading global provider of energy and commodities information and spot market benchmarks.

Surge Energy was announced as a finalist in the Corporate Social Responsibility Award (Diversified), Deal of the Year (Strategic), and Rising Star Company Award categories. Surge Energy’s CEO Linhua Guan was named a finalist in the Chief Trailblazer of the Year category.

Often described as “the Oscars of the energy industry”, the S&P Global Platts Global Energy Awards achievements in innovation, leadership, and company performance in 22 categories spanning the entire energy complex.

The entry for the Corporate Social Responsibility Award (Diversified) was based on Surge Energy’s water and power management programs. Surge Energy’s water management infrastructure consists of produced water recycling infrastructure and pipelines. Over 65 million total barrels of freshwater have been conserved since the inception of the Company’s water recycling program. Additionally, the water pipeline system eliminated approximately 500,000 truck trips on local roads and saved over 5 million truck miles in 2020 which eliminates emissions associated with diesel trucks. Surge Energy commissioned an electrical substation in 2020, which nearly eliminates well-site generator usage and significantly decreases GHG emissions. This emissions reduction is estimated to be approximately 150,000 tons of CO2 emissions per year. A second substation is planned in 2022.

“Surge is proud to be recognized by S&P Global Platts Global Energy Awards,” stated Guan. “Being recognized as finalists for four awards demonstrates Surge’s innovation, commitment to excellence, strong track record of delivering results, and commitment to environmental responsibility and sustainability.”

Jenny Salinas, Vice President, Marketing, S&P Global Platts commented, “This year’s complement of 196 finalists truly indicates the outstanding innovation and supreme leadership occurring in so many sectors across our industries. Companies are tackling critical issues such as emissions control, digitization, investment to improve the quality of life, and so much more. We are proud to honor these individuals and companies on their achievements.”

The Global Energy Awards’ independent panel of esteemed judges will select winners for each award category from the corresponding group of finalists. The ‘Energy Company of the Year’ will be chosen from the entire list of finalists.

The winners will be announced at the S&P Global Platts Global Energy Awards black-tie gala on December 9th in New York City. This year, the event will be held in person at Cipriani Wall Street and will follow all Covid related guidelines. Expected attendance is 400 energy, financial, and business executives.

To view the complete list of Award categories and finalists, as well as more information on the Awards and upcoming ceremony, visit the website: www.globalenergyawards.com.

About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing, and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture, and shipping.

S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for companies, governments, and individuals to make decisions with confidence. For more information, visit http://spglobal.com/platts.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 113,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


9/24/2021

Surge Energy America Recognized as Honoree for Houston Business Journal’s 2021 Innovation Awards

Houston, TX, September 24, 2021

September 24, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces the Company has been selected as an honoree for the Houston Business Journal’s 2021 Innovation Awards.

The list of honorees for this award was announced by Houston Business Journal on August 3, 2021 and is featured in a special section of the Houston Business Journal’s September 24th edition.

Surge Energy’s consideration for the award was based on the recent construction of the Dragon electrical substation connecting 138kV utility transmission system into the company’s power-line infrastructure as well as the method in which the facility was constructed. This electrical method of powering Surge Energy’s operations nearly eliminates well-site generator usage and significantly decreases GHG emissions. The efficient manner in which the facility was built led to a zero-incident safety performance and significant cost reductions for the project.

Surge Energy was listed in the Houston Business Journal’s 2019 Inaugural Innovation Awards and is proud to make the list for second time in three years.

“Surge is proud to be honored for this year’s Houston Business Journal’s 2021 Innovation Awards,” stated Chief Executive Officer Linhua Guan. “This accomplishment is the latest demonstration of the innovation of Surge’s people as well as Surge’s commitment to sustainability.”

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 113,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


9/21/2021

Surge Energy America Announces Phil Webb, Chief Operating Officer, Elects to Retire

Houston, TX, September 21, 2021

September 21, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces J. Phillip (Phil) Webb has elected to retire from the company effective December 31, 2021. Mr. Webb has served as the Chief Operating Officer since the founding of the company.

“I would like to thank Phil for his significant and outstanding contributions to Surge,” CEO Linhua Guan said. “Phil’s leadership has been instrumental in the success of Surge as well as the development of culture and values of the company.”

It has been an honor to serve as COO of Surge since its founding,” said Mr. Webb. “The commitment, effort, and perseverance of our employees is greatly appreciated and has enabled us to continually achieve outstanding results over the past 6 years.”

Phil will remain as COO until his retirement on December 31.

Effective January 1, 2022, Chris Alonzo, Vice President of Development, Joe Fleming, Vice President of Operations, and CJ Liu, Chief Geologist will begin reporting to the CEO and in combination will have the responsibility to lead the asset development, operations, and exploration for Surge.

Also, effective January 1, 2022, Travis Guidry will be promoted from Director, Corporate Development and Investor Relations to Vice President, Corporate Development and Investor Relations and oversee strategic planning, acquisitions and divestitures, and investor relations and will continue to report to the CEO.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 113,000 net acres in the Permian Basin. Based on a December 2020 Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas. Surge was the only oil and gas production company recognized by the Houston Business Journal’s Best Places to Work Lists in both 2020 and 2021. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


9/8/2021

Surge Energy America Recognized on Houston Business Journal’s Best Places to Work List for Second Consecutive Year

Houston, TX, September 8, 2021

September 8, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces being recognized on the Houston Business Journal's 2021 Best Places to Work list for the second consecutive year.

The list of finalists for this award was announced by Houston Business Journal on September 2, 2021. On November 4, 2021, the ranking of the finalists will be announced by Houston Business Journal.

The Houston Business Journal’s Best Places to Work is based on an independent survey completed by the employees of nominated companies. The survey is conducted by Quantum Workplace, and the finalists fall into four size categories. Surge Energy is listed in the “Medium” category which includes companies ranging from 50-99 local employees in the Houston area. Honorees will be featured in the print edition of Houston Business Journal on November 4, 2021.

Surge Energy is the only onshore oil and gas production company recognized for this honor in 2021, and the only oil and gas production company recognized consecutively in 2020 and 2021.

"Surge is proud to a part of HBJ’s Best Places to Work in 2021," stated Chief Executive Officer Linhua Guan. “Obtaining a place on this list two years in a row is evidence of our on-going commitment to Surge’s greatest asset, its people."

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 113,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


8/19/2021

Surge Energy America Announces Top Quartile Water and Methane Intensity Performance

Houston, TX, August 19, 2021

August 19, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces top quartile water conservation performance in the Permian Basin per an industry benchmarking survey.

Surge Energy recently participated in a benchmarking survey that included freshwater and methane intensity comparisons for 13 operators in the Permian Basin during the years 2019 and 2020. Surge Energy was a top quartile performer during these periods. Freshwater intensity measures the volume of freshwater withdrawn from local sources for fracking operations relative to the resulting barrel of oil equivalent production. The data estimates the freshwater intensity and exposure to water stress for an area of operation. Methane intensity measures methane emissions relative to barrel of oil equivalent production.

Over 65 million total barrels of freshwater have been conserved since the inception of Surge Energy’s water recycling program. Additionally, our water pipeline system eliminated approximately 500,000 truck trips on local roads and saved over 5 million truck miles in 2020 which eliminates emissions associated with diesel trucks.

“The results of this industry survey are just the latest example of Surge’s commitment to sustainability by being a basin leader in water recycling and conservation,” stated CEO Linhua Guan.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 113,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


8/12/2021

Surge Energy America Announces Bolt-On Acquisition in Howard County

Houston, TX, August 12, 2021

August 12, 2021 – Moss Creek Resources Holdings, Inc. (the “Company”), a wholly owned subsidiary of Surge Energy US Holdings Company, has acquired leasehold interest and wells from Apache Corporation (“Apache”) in Howard County, TX (the “Transaction”). The aggregate purchase price of the Transaction at closing was $37.5 million USD.

Highlights of the acquired assets include:

  • Approximately 4,000 net leasehold acres (100% held-by-production) adjacent to existing leasehold position in Howard County
  • Approximately 800 net barrels of oil equivalent per day of production
  • Includes salt water disposal infrastructure and approximately 960 surface acres
  • Adds approximately 14 net drilling locations primarily through increased lateral lengths and working interests
"This acquisition is consistent with our objective of strategically adding to our portfolio," stated Chief Executive Officer Linhua Guan. “Based on the location of this acreage, it allows us to extend laterals from our existing leasehold that should result in increased economics and capital efficiency.”

The Transaction closed on July 30.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 113,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


6/30/2021

Surge Energy America Announces 100 MMBOE Production Milestone and Listing in Houston Chronicle’s Top Private Companies

Houston, TX, June 30, 2021

June 30, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces it surpassed 100 million gross barrels of oil equivalent produced since the Company took over operatorship of the Moss Creek asset in 2016 and was listed in Houston Chronicle’s Top Private Companies headquartered in Houston, TX as published on June 20, 2021.

The company celebrated this significant production milestone earlier this month. The Company’s production has benefitted the Texas economy and community through significant capital investment, royalty payments to mineral owners who have interest under Surge Energy’s producing acreage, contribution to local and state taxes, as well as creating local employment opportunities. Since inception, the Company has paid over $900 million in royalty payments to mineral owners while the State of Texas and several counties within Texas have received over $165 million of production and value related taxes.

“Surge is proud to celebrate this significant achievement of reaching 100 million gross barrels of oil equivalent in our very short six-year history as a company,” stated Chief Executive Officer Linhua Guan. “This production has made a substantial economic impact in Texas as evidenced by over $1 billion dollars being distributed as royalty and tax payments.”

Surge Energy Ranked 20th on the list of top private companies as determined by the Houston Chronicle. The list was published in the Houston Chronicle 100 on June 20, 2021 and is based on 2020 revenues. Surge Energy was the highest ranked E&P operator on the list.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 110,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


6/25/2021

Surge Energy America Announces Electric Frack Fleet Field Trial with U.S. Well Services

Houston, TX, June 25th, 2021

June 25, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces it will partner with U.S. Well Services (NASDAQ: USWS) (“USWS”) on a field trial using USWS’ all-electric Clean Fleet®. This project represents Surge’s first well completions using all-electric hydraulic fracturing technology.

“The utilization of Surge’s electrical infrastructure for fracking is the latest example of Surge’s commitment to sustainability through GHG emissions reduction,” stated Linhua Guan, Surge’s CEO. “We are excited to be partnering with USWS on this project based on both companies’ shared commitment to reduce emissions through the use of innovation.”

“U.S. Well Services is pleased to be partnering with Surge Energy,” commented Joel Broussard, USWS’ President and CEO. “Surge is a leading Permian Basin E&P operator and has consistently proven their commitment to reducing the emissions intensity of their operations through the use of advanced fracturing technology. Surge is an ideal customer for USWS given its dedication to electrifying the oilfield, as evidenced by their investments in infrastructure that could ultimately enable zero-emissions well completions using grid power. We are excited to deploy our Clean Fleet for Surge and demonstrate the fuel cost savings and emissions reduction potential of the technology during this upcoming field trial. We hope to build upon our relationship with Surge and leverage our intellectual property and expertise to help them explore future opportunities.”


About U.S. Well Services, Inc
U.S. Well Services, Inc. is a leading provider of hydraulic fracturing services and a market leader in electric fracture stimulation. The Company’s patented electric frac technology provides one of the first fully electric, mobile well stimulation systems powered by locally-supplied natural gas, including field gas sourced directly from the wellhead. The Company’s electric frac technology dramatically decreases emissions and sound pollution while generating exceptional operational efficiencies, including significant customer fuel cost savings versus conventional diesel fleets. For more information visit: www.uswellservices.com. Information on our website is not part of this release.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 110,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


6/3/2021

Surge Energy America Announces Use of Dual Fuel Completions

Houston, TX, June 3rd, 2021

June 3, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces the use of dual fuel completions on a multi-well, multi-zone pad in its Moss Creek field.

Surge Energy recently completed a multi-zone, 10 well project in the Company’s Moss Creek field in Howard County. Within this project, the Company completed a five-well pad with a compressed natural gas (“CNG”) and diesel dual fuel system which yielded a GHG emissions reduction of approximately 845 metric tons (1.86 million pounds) of CO2e Emissions. Further, the Company has plans to introduce an electric frac fleet in 2021 to further reduce GHG emissions.

“The use of CNG and diesel dual fuel powered fracking is the latest example of Surge’s culture of innovation,” stated CEO Linhua Guan. “Using dual fuel completions and plans to further reduce GHG emissions with an electric frac fleet demonstrate Surge’s commitment to sustainability.”


About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 110,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


4/15/2021

Surge Energy America Announces Third Party OOIP Estimate

Houston, TX, April 15th, 2021

April 15, 2021 – Surge Energy US Holdings Company (“Surge Energy”) has engaged ZetaWare, Inc. (“ZetaWare”), an independent firm, to assess the estimated original oil in place (“OOIP”) under its Moss Creek assets in Howard and Borden Counties in Texas. The firm has determined the estimated OOIP to be approximately seventeen billion barrels of oil. ZetaWare is an independent firm known for petroleum system modeling and resource simulation and determination.

Of the approximately seventeen billion barrels of OOIP resource, Surge Energy is currently developing two primary zones that are well delineated and understood, is pursuing appraisal and development of two secondary zones, and is studying upside opportunity in two additional zones in the Moss Creek Field. Surge Energy and previous operators have recovered less than 1% of the total OOIP calculated by Zetaware.

The primary recovery factor for unconventional shale oil play is generally in the range of 2-8% (Journal of Petroleum Technology, September 30, 2019).

“Surge Energy is constantly evaluating opportunities to increase oil recovery,” said Chief Geologist, Dr. Xijin (CJ) Liu. “The amount of oil produced to date compared to total calculated OOIP suggests that opportunities exist to recover more oil into the future.”

“Surge Energy has made great progress in the geological understanding of the Moss Creek Field in the past several years,” said Chief Executive Office Linhua Guan. “This estimation by ZetaWare supports the presence of significant OOIP and I am excited about Surge Energy’s future with our strong resource base and talented workforce.”


About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 110,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


3/31/2021

Surge Energy America Completes Midland Basin Acquisition

Houston, TX, March 31th, 2021

March 31, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announced in the US that it, through its subsidiary, has completed the previously announced acquisition of leasehold interest and producing wells from Grenadier Energy Partners II LLC (“GEP II”) in Howard County, TX (the “Transaction”). The aggregate purchase price of the Transaction was approximately $420 million USD.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 110,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


3/29/2021

Surge Energy America Announces Inaugural Sustainability Report and Commitment to ESG

Houston, TX, March 29th, 2021

March 29, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announced the publication of its inaugural Sustainability Report and reiterated commitment to ESG.

Highlights include:

• Inaugural report modeled after Sustainability Accounting Standards Board (“SASB”) guidelines
• Key performance indicators for Health, Safety and Environment are included in compensation program for all employees and management
• Surge’s commitment to reducing GHG emissions has been demonstrated by gas flaring volumes reductions of greater than 60% in 2020 relative to 2019, despite an increase of gross produced gas volume by approximately 13%
• Surge values its people as its greatest asset, which was demonstrated by being recognized in Houston Business Journal’s 2020 best places to work
• Company created Corporate Responsibility Team (“CRT”) to oversee, report, set goals and track performance on ESG topics for executive management
• Sustainability Report is planned to be published annually; Inaugural report is for 2019 performance and operations
The inaugural Sustainability report is available to current and prospective bondholders and ratings agencies on the VDR found at http://www.surgeenergya.com/InvestorRelations.Request.html and has been provided to the Company’s revolving credit facility bank group.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 93,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


2/1/2021

Surge Energy America Announces Significant Midland Basin Acquisition

Houston, TX, February 1, 2021

February 1, 2021 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announced that, through its subsidiary, has signed a purchase and sale agreement to acquire leasehold interest and producing wells from Grenadier Energy Partners II LLC (“GEP II”) in Howard County, TX (the “Transaction”). The aggregate purchase price of the Transaction is expected to be approximately $420 million USD.

Highlights of the acquired assets include:

• Average production of approximately 9,000 Boepd (approximately 75% oil)
• Approximately 18,010 net leasehold acreage
• Operated inventory of approximately 120 high-quality, economic future drilling locations
The Transaction is expected to close in late first quarter.

"This acquisition is consistent with our strategy of building a long-term, sustainable oil and gas company," stated Chief Executive Officer Linhua Guan. “The combination of both production and high-quality inventory support both near term cash flow and strong economic returns for years to come.”

Citi acted as financial advisors to Surge Energy. Jefferies LLC acted as financial advisor to GEP II. Legal advisors included Thompson & Knight LLP for Surge Energy and Vinson & Elkins LLP for GEP II.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 93,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


10/26/2020

Surge Energy America Announces Reaffirmation of Borrowing Base

Houston, TX, October 26, 2020

October 26, 2020 – Surge Energy US Holdings Company (“Surge Energy” or the “Company”) announces that its bank group, led by administrative agent Citibank N.A., has reaffirmed the Company’s $850 million borrowing base.

The reaffirmation of the Company’s borrowing base, and during the third quarter repaying all borrowings drawn, results in strong liquidity of approximately $940 million with cash on hand as of September 30, 2020.

"The reaffirmation of the borrowing base demonstrates the quality and resiliency of our assets and the results of ongoing efforts to improve costs and efficiencies," stated Chief Executive Officer Linhua Guan. “This solidified liquidity position gives us confidence as we continue to pursue opportunities to add to our portfolio both via acquisitions and within our acreage position.”

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 93,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


10/23/2020

Surge Energy America Recognized on Houston Business Journal’s Best Place to Work List

Houston, TX, October 23, 2020

October 23, 2020 – Surge Energy US Holdings Company (“Surge Energy”) announces being recognized on the on the Houston Business Journal's 2020 Best Places to Work list.

The list of finalists for this award was announced by Houston Business Journal on August 31, 2020. On October 22, 2020, the ranking of the finalists was announced by Houston Business Journal.

The Houston Business Journal’s Best Places to Work is based on an independent survey completed by the employees of nominated companies. The survey is conducted by Quantum Workplace, and the finalists fall into four size categories. Surge Energy is listed in the “Medium” category which includes companies ranging from 50-99 local employees in the Houston area. Honorees will be featured in the print edition of Houston Business Journal on October 23, 2020.

As previously announced, Surge Energy was one of three upstream oil and gas production companies recognized on the Houston Business Journal Middle Market 50. The Middle Market 50 recognizes the top 50 mid-size public and private companies in the Houston area. Surge Energy was the only upstream oil and gas production company recognized for both the Best Places to Work and Middle Market 50 lists.

"Surge values its people as its greatest asset," stated Chief Executive Officer Linhua Guan. “We strive to attract and keep the best talent with competitive employee benefits, a culture of innovation, and appreciation for our team."

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 93,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information
Travis Guidry
Director of Corporate Development & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


10/01/2020

Surge Energy America Recognized on Houston Business Journal’s 2020 Middle Market 50 List

Houston, TX, October 1, 2020

October 1, 2020 – Surge Energy US Holdings Company (“Surge Energy”) announces being recognized on the Houston Business Journal’s 2020 Middle Market 50 list.

The list of finalists for this award was announced by Houston Business Journal on August 3, 2020. Surge Energy was one of three upstream oil and gas production companies on the list. On October 1, 2020, the ranking of the finalists was announced by Houston Business Journal.

The Middle Market 50 recognizes the top 50 mid-size public and private companies in the Houston area. Ranking of the companies for this award is based on recent percentage revenue growth. Honorees will be featured in the print edition of Houston Business Journal on October 2, 2020.

“Surge’s impressive track record of growth and strong operational execution is an example of the employees’ innovation and dedication to the successful development of our assets,” stated Chief Executive Officer Linhua Guan.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 93,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information
Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


04/07/2020

Surge Energy US Announces Commitment to Sustainability

Houston, TX, April 7, 2020 “Surge Energy places a high value on our responsibility to the environment. This is demonstrated by our proactive efforts and investment that minimizes our footprint.” - CEO Linhua Guan

Surge Energy US Holdings Company (“Surge Energy”) is renewing its focus on sustainability through emission control, conservation and corporate responsibility.

Emission Control
Surge Energy has taken a variety of actions to reduce our air emissions. These actions include:
• Practicing green completions;
• Avoiding the use of high-bleed pneumatic controllers;
• Instituting a successful leak detection and repair (LDAR) program;
• Building an electrical generating system that eliminated well-site generator emissions;
• Upgrading control devices and facilities to be more efficient; and
• >90% of oil production transported on pipeline which reduces trucks on the road and vehicle emissions related to our operations.

Surge Energy has made significant strides with respect to reducing the flaring of gas in connection with its operations. Flaring gas volumes have significantly been reduced on Surge Energy wells over the last 18 months. Flaring volumes in 2018 and 2019 attributed to Surge Energy were largely due to temporary reductions in third-party processing and takeaway capacity, including as a result of a fire at a gas plant that had been receiving our volumes and impacted the gas plant’s operations into 2019. Since that time, Surge Energy has reduced flared volumes significantly, both on an aggregate volume basis and as a proportion of volumes and remains committed to continuing efforts to reduce flaring. Excluding third-party issues, gas volumes flared from Surge Energy wells over the last 18 months were minimal relative to Surge’s total production and in line with top operators in the area.

Conservation
Surge Energy has conserved more than 60 MMbbls of fresh water through its leading produced water recycling efforts. We use recycled produced water in all of our horizontal hydraulic fracturing well completions in the Permian Basin and have implemented this practice as a program standard. We also take steps to reduce our environmental footprint by recycling our domestic rig water and mud cuttings, improving drilling efficiency by using pad drilling, and transporting our products through pipelines, reducing the need for trucking. Additionally, we conduct environmental reviews of all our drilling locations to understand and address any potential impacts to natural resources.

Corporate Responsibility
Surge Energy is committed to environmental stewardship and supporting the communities where we operate. We are a member of The Environmental Partnership, a landmark initiative that is committed to improving the energy industry’s environmental performance. Surge Energy has invested in projects to improve overall environmental and safety performance. We have upgraded our facilities and our equipment to reduce emissions and installed safety shut-down systems and monitoring systems to safeguard our employees. Our commitment to the community is evidenced by support of local emergency responders and local FFA and rodeo programs. Starting in late 2017, we initiated use of regional sand for our hydraulic fracturing well completions, providing further support for the local economy.

About Surge Energy
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 96,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information
Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


08/07/2019

Surge Energy America Announces Being Selected as an Honoree for Houston Business Journal’s Inaugural Innovation Awards

Houston, TX, August 7th, 2019 Surge Energy US Holdings Company (“Surge Energy”) today announced that it has been selected as an honoree for Houston Business Journal’s Inaugural Innovation Awards.

The honorees will be featured in a special section of the Houston Business Journal's September 27 weekly edition and celebrated at the Fast 100 and Innovation Awards event September 26.

The company’s consideration for the award was based on the culture of the company, which from its origin strived to be different by encouraging innovation and outside the box thinking. This culture is what led to drilling and completing a 3.4 mile well, the longest known lateral in the Permian Basin earlier this year.

“Surge’s founding principles and values is the true innovation that has made Surge a different kind of oil company,” stated CEO Linhua Guan. “We are extremely proud of our team’s ability to tackle the hardest business and technical challenges and believe this is what has led to our strong track record of profitability and growth.”

About Surge Energy
Surge Energy is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. Surge Energy is headquartered in Houston, Texas and currently holds approximately 85,000 net acres in the Permian Basin. For more information, visit our website at www.SurgeEnergyA.com.

Contact Information
Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@SurgeEnergyA.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@SurgeEnergyA.com
Phone: 832-333-2400


07/16/2019

Surge Energy America Announces Successful Completion of Longest Known Lateral in Permian Basin of 3.4 Miles

Houston, TX, July 16, 2019 Surge Energy US Holdings Company (“Surge Energy”) today announced that its wholly owned subsidiary, Moss Creek Resources Holdings, Inc., has successfully completed the longest known lateral in the Permian Basin.

The Medusa Unit C 28-09 3AH was safely and successfully completed and drilled out to total depth. As previously announced, this well is the longest known lateral in the Permian Basin with a total horizontal displacement of 17,935 feet (or 3.4 miles). The completion consisted of 52 frac stages utilizing TTS SlicFrac™ diverter technology to place 2,200 lbs of proppant per lateral foot.

This technological accomplishment was executed with service providers Universal Pressure Pumping for pumping services and GR Energy Services for wireline.

Initial production from this well is expected by the end of the third quarter.

“The successful drilling and completion of the longest known lateral in the Permian Basin demonstrates the strong culture of innovation at Surge Energy,” stated CEO Linhua Guan. “We are extremely proud of our technical and operations teams in this record setting achievement.”

About Surge Energy
Surge Energy is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. Surge Energy is headquartered in Houston, Texas and currently holds approximately 85,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information
Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@surgeenergya.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@surgeenergya.com
Phone: 832-333-2400


05/13/2019

Moss Creek Resources Announces First Quarter 2019 Results Conference Call

Houston, TX, May 13, 2019 Moss Creek Resources Holdings, Inc. (the “Company”), a wholly owned subsidiary of Surge Energy US Holdings Company, today announced that it will hold a conference call to discuss its 2019 first quarter financial and operating results on Thursday, May 16, 2019, at 11:00 AM EST (10:00 AM CST). Hosting the call will be Linhua Guan, Chief Executive Officer, Dexter Burleigh, President; Phil Webb, Chief Operating Officer; James Welch, Chief Financial Officer; and Travis Guidry, Director Planning and Investor Relations.

Conference Call Information:
The conference call is intended to provide information to beneficial owners of the Company’s outstanding Senior Notes (the “Notes”), bona fide prospective holders of the Notes and bona fide security analysis of the Notes. If interested in participating in the conference call, please request access to the Company’s Virtual Data Room (VDR) available under the Investor Relations tab on the Company’s website. Call details are available in the VDR once access is granted.

About Surge Energy US Holdings Company
Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas and currently holds approximately 85,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information
Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@surgeenergya.com
Phone: 832-333-2339

Investor Relations
Email: InvestorRelations@surgeenergya.com
Phone: 832-333-2400


04/26/2019

Moss Creek Resources Holdings, Inc. Announces Pricing of $500.0 Million Offering of Senior Notes

Houston, TX, April 26, 2019 Moss Creek Resources Holdings, Inc. (the “Company”), a wholly-owned subsidiary of Surge Energy US Holdings Company, announced today that it has priced $500.0 million aggregate principal amount of its 10.5% senior unsecured notes due 2027 (the “Notes”) in a private offering (the “Offering”) that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). The Offering is expected to close on May 1, 2019, subject to customary closing conditions.

The Notes will be senior unsecured obligations of the Company and will initially be guaranteed by each of the Company’s two subsidiaries, Moss Creek Resources, LLC and Surge Operating, LLC.

The Company intends to use the net proceeds from the Offering to repay all outstanding borrowings under its revolving credit facility, with the remainder of the net proceeds to be used for general corporate purposes.

The Notes and related guarantees are being offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act or outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign security laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any Notes, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This press release includes “forward-looking statements,” including, in particular, statements about the Company’s plans, strategies and prospects. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “target,” “goal,” “plans,” “objective,” “should” or similar expressions or, in each case, their negative or other variations or comparable terminology. Although the Company bases these forward-looking statements on assumptions that the Company believes are reasonable when made, actual results could differ materially from those projected in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things: the Company’s ability to consummate the Offering, changes in general economic and market conditions and other factors discussed in the offering memorandum in connection with this Offering. You should not put undue reliance on any forward-looking statements. You should understand that many important factors, including those discussed herein, could cause actual events and results to differ materially from those expressed or suggested in any forward-looking statement. Any forward-looking statements that the Company makes in this press release speak only as of the date of those statements. Except as required by law, the Company does not undertake any obligation to update or revise these forward-looking statements to reflect new information or events or circumstances that occur after the date of this press release or to reflect the occurrence of unanticipated events or otherwise.


04/22/2019

MOSS CREEK RESOURCES HOLDINGS, INC. ANNOUNCES LAUNCH OF $500.0 MILLION OFFERING OF SENIOR NOTES

Houston, TX, April 22, 2019 Moss Creek Resources Holdings, Inc. (the “Company”), a wholly-owned subsidiary of Surge Energy US Holdings Company, announced today that, subject to market conditions, it intends to offer $500.0 million aggregate principal amount of senior unsecured notes due 2027 (the “Notes”) in a private offering (the “Offering”) that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”).

The Notes will be senior unsecured obligations of the Company and will initially be guaranteed by each of the Company’s two subsidiaries, Moss Creek Resources, LLC and Surge Operating, LLC.

The Company intends to use the net proceeds from the Offering to repay all outstanding borrowings under its revolving credit facility, with the remainder of the net proceeds to be used for general corporate purposes.

The Notes and related guarantees are being offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act or outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign security laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any Notes, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This press release includes “forward-looking statements,” including, in particular, statements about the Company’s plans, strategies and prospects. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “target,” “goal,” “plans,” “objective,” “should” or similar expressions or, in each case, their negative or other variations or comparable terminology. Although the Company bases these forward-looking statements on assumptions that the Company believes are reasonable when made, actual results could differ materially from those projected in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things: the Company’s ability to consummate the Offering, changes in general economic and market conditions and other factors discussed in the offering memorandum in connection with this Offering. You should not put undue reliance on any forward-looking statements. You should understand that many important factors, including those discussed herein, could cause actual events and results to differ materially from those expressed or suggested in any forward-looking statement. Any forward-looking statements that the Company makes in this press release speak only as of the date of those statements. Except as required by law, the Company does not undertake any obligation to update or revise these forward-looking statements to reflect new information or events or circumstances that occur after the date of this press release or to reflect the occurrence of unanticipated events or otherwise.


04/17/2019

Surge Energy Announces Drilling the Longest Known Lateral in the Permian Basin of 3.4 Miles

Moss Creek Resources Holdings, Inc. (the “Company”), a wholly owned subsidiary of Surge Energy US Holdings Company, today announced the drilling of the longest known lateral in the Permian Basin.

The Medusa Unit C 28-09 3AH was successfully drilled to a total-measured-depth of 24,592 feet (total vertical depth of 7,102 feet). This record breaking well was drilled 100% in zone of the Wolfcamp A with a total horizontal displacement of 17,935 feet (or 3.4 miles). This is the longest known lateral in the Permian Basin based on the IHS and Drillinginfo databases.

This technological accomplishment was executed in 18 days from surface to total depth utilizing conventional mud motor and measurement-while-drilling (MWD) technology. Surge Energy partnered with Latshaw Drilling & Exploration’s Rig 10 and Pro Directional for directional services.

The well is expected to be completed and brought online later in the year.

“This industry milestone in the Permian Basin is our latest example of the innovation and technical expertise being executed by the Surge Energy Team” stated President and CEO Dexter Burleigh. “We are extremely proud of our Drilling Team for this significant achievement.”

About Surge Energy US Holdings Company

About Surge Energy US Holdings Company Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The company is headquartered in Houston, Texas and currently holds approximately 85,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information:

Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@surgeenergya.com
Phone: 832‐333‐2339

Investor Relations
Email: InvestorRelations@surgeenergya.com
Phone: 832‐333‐2400

02/07/2019

Moss Creek Resources Announces Conference Call to Announce 2018 Preliminary Results and 2019 Capital Plan

Moss Creek Resources Holdings, Inc. (the “Company”), a wholly owned subsidiary of Surge Energy US Holding Company, today announced that it will hold a conference call to discuss its preliminary 2018 results and 2019 capital plan and give a company update on February 14, 2019 at 10:00 AM EST (9:00 AM CST). Hosting the call will be Dexter Burleigh, Chief Executive Officer; Phil Webb, Chief Operating Officer; and James Welch, Chief Financial Officer.

Conference Call Information:

The conference call is intended to provide information to beneficial owners of the Company’s outstanding 7.500% Senior Notes due 2026 (the “Notes”), bona fide prospective holders of the Notes and bona fide security analysis of the Notes. If interested in participating in the conference call, please request access to the Company’s Virtual Data Room (VDR) available under the Investor Relations tab on the Company’s website. Call details are available in the VDR once access is granted.

About Surge Energy US Holdings Company

Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The company is headquartered in Houston, Texas and currently holds approximately 85,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information:

Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@surgeenergya.com
Phone: 832‐333‐2339

Investor Relations
Email: InvestorRelations@surgeenergya.com
Phone: 832‐333‐2400


11/02/2018

SURGE ENERGY TO PRESENT AT BANK OF AMERICA MERRILL LYNCH LEVERAGED FINANCE CONFERENCE

Moss Creek Resources Holdings, Inc. (the “Company”), a wholly owned subsidiary of Surge Energy US Holdings Company, today announced that it will be presenting and hosting one-on-one meetings at the Bank of America Merrill Lynch Leveraged Finance Conference in Boca Raton, FL from December 3rd to December 5th, 2018. President and Chief Executive Officer, Dexter Burleigh, will present with the presentation scheduled at 9:30 a.m. Eastern Time on December 5th. Mr. Burleigh will join Chief Financial Officer, James Welch, Director of Planning and Economics, Travis Guidry and Director of Treasury and Commercial, Brandy Yelton to host one-on-one meetings on Tuesday, December 4th and Wednesday December 5th. The Company will be uploading the presentation material to its VDR site.

About Surge Energy US Holdings Company

Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The company is headquartered in Houston, Texas and currently holds approximately 83,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information:

Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@surgeenergya.com
Phone: 832‐333‐2339

Investor Relations
Email: InvestorRelations@surgeenergya.com
Phone: 832‐333‐2400

04/18/2018

MOSS CREEK RESOURCES ANNOUNCES TIMING OF YEAR END 2017 FINANCIAL AND OPERATIONAL RESULTS AND CONFERENCE CALL FOR HIGH YIELD BOND INVESTORS

Moss Creek Resources Holdings, Inc. (the “Company”), a wholly owned subsidiary of Surge Energy US Holdings Company, today announced that it will release its year end 2017 financial and operating results on Wednesday, April 25, 2018. In connection with the release, the company will host a conference call for investors on Thursday, April 26, 2018 at 11:00 AM EST (10:00 AM CST). Hosting the call will be Dexter Burleigh, Chief Executive Officer, Phil Webb, Chief Operating Officer, and James Welch, Chief Financial Officer.

Conference Call Information

By Phone: 1.866.385.4064 (United States) or 1.470.279.3818 (International) approximately 10 minutes before the scheduled start time. Please use entry code: SurgeYE2017

A telephone replay will be available through Friday, May 4, 2018 by dialing 1.800.839.2383 (United States/Canada) or 1.402.220.7202 (International).

About Surge Energy US Holdings Company

Surge Energy is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub‐basins of the Permian Basin. The company is headquartered in Houston, Texas and currently holds approximately 83,000 net acres in the Permian Basin. For more information, visit our website at www.surgeenergya.com.

Contact Information:

Travis Guidry
Director of Planning & Investor Relations
Email: TGuidry@surgeenergya.com
Phone: 832‐333‐2339

Investor Relations
Email: InvestorRelations@surgeenergya.com
Phone: 832‐333‐2400

01/12/2018

SURGE ENERGY ANNOUNCES PRICING OF $700.0 MILLION OF ITS 7.500% SENIOR NOTES DUE 2026

New York, NY, January 12, 2018 — Moss Creek Resources Holdings, Inc. (the “Company”), a wholly owned subsidiary of Surge Energy US Holdings Company, announced today that it has priced $700.0 million in aggregate principal amount of its 7.500% senior notes due 2026 (the “Notes”) in a private offering (the “Offering”) that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). The Offering is expected to close on January 18, 2018, subject to customary closing conditions.

The Notes will be the senior unsecured obligations of the Company and will initially be guaranteed by each of the Company’s two subsidiaries, Moss Creek Resources, LLC and Surge Operating, LLC.

The Company intends to use the net proceeds from the Offering to repay all outstanding borrowings under, and terminate, the Company’s existing term loan facility, repay outstanding borrowings under the Company’s revolving credit facility, pay related fees and expenses of such transactions and, to the extent there are any remaining proceeds, for general corporate purposes.

The Notes and related guarantees are being offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act or outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign security laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any Notes, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This press release includes “forward-looking statements,” including, in particular, statements about the Company’s plans, strategies and prospects. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “target,” “goal,” “plans,” “objective,” “should” or similar expressions or, in each case, their negative or other variations or comparable terminology. Although the Company bases these forward-looking statements on assumptions that the Company believe are reasonable when made, actual results could differ materially from those projected in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things: the Company’s ability to consummate the Offering, changes in general economic and market conditions and other factors discussed in the offering memorandum in connection with this Offering. You should not put undue reliance on any forward-looking statements. You should understand that many important factors, including those discussed herein, could cause actual events and results to differ materially from those expressed or suggested in any forward-looking statement. Any forward-looking statements that the Company makes in this press release speak only as of the date of those statements. Except as required by law, the Company does not undertake any obligation to update or revise these forward-looking statements to reflect new information or events or circumstances that occur after the date of this press release or to reflect the occurrence of unanticipated events or otherwise.