BRIEF-Surge Energy Q4 FFO per share $0.07
March 16 (Reuters) - Surge Energy Inc :
* Announces fourth quarter and year-end 2015 results
* Qtrly earnings per share $0.07
* Qtrly FFO per share diluted $0.07
* Q4 average production rate of 14,187 boe per day, a 5 percent increase from previous quarter
* Qtrly total oil, natural gas, and NGL revenue $40.9 million versus $45.8 million in q3
* In January, company elected to monetize a 1,000 bbl/d WTI collar for 2016
* Subsequent to Q4, surge signed a definitive agreement divesting company's non-core sunset property in Northern Alberta
* Second transaction involves sale of certain Valhalla area production facilities to a third party
* Says "currently conducting an internal resource update of upper Shaunavon field"
* $43 million in gross proceeds from transactions will be used to pay down company's existing debt facility Source text for Eikon: Further company coverage:
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