Surge Energy seeks more deals to expand in Williston Basin

|About: Surge Energy, Inc. (ZPTAF)|By:, SA News Editor

Surge Energy (ZPTAF), which already has announced five acquisitions since June, is seeking more deals this year to expand its holdings in the southeast Saskatchewan portion of the Williston Basin, CEO Paul Colborne says.

Surge is interested in some oil properties held by Penn West Petroleum (PWE), Colborne says; PWE is targeting as much as C$2B in asset sales, it said in November.

Surge said on Jan. 13 it will raise its annual dividend to $0.54/share, and Colborne says it is poised to keep boosting its dividend along with output in 2014.