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

Thu Apr 7, 2016 5:11pm EDT
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April 7 (Reuters) - Surge Energy Inc

* 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: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)