November 9, 2016 / 11:27 PM / a year ago

BRIEF-Surge reports Q3 FFO per share $0.09

Nov 9 (Reuters) - Surge Energy Inc

* Qtrly FFO per share $0.09

* Qtrly FFO per share $0.09

* Announces third quarter 2016 results

* Surge’s average production increased eight percent in q3 of 2016 to 13,120 boepd

* Upward revision to 2016 production exit rate

* Has now revised management’s 2016 production exit rate estimate upward, to more than 13,500 boepd

* Plans to drill up to six more eyehill sparky wells in late 2016 and early 2017, increasing production to over 1,500 boepd

* Average production for 2017 is forecast to be 13,650 boepd with an exit rate of 14,150 boepd

* Anticipates spending approximately 70 percent of its preliminary $85 million 2017 capital expenditure budget on drilling activity

* Has now revised management’s 2016 production exit rate estimate upward, to more than 13,500 boepd Source text for Eikon: Further company coverage:

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