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 Freshwater intensity measures the volume of freshwater withdrawn from local sources for fracking operations relative to the resulting barrel of oil equivalent production.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