09:56 AM EST - Surge Energy Inc. : announced its financial and operating results for the year ended December 31, 2012. Funds from operations increased 60% to $92.2 million in 2012 as compared to 2011. Production grew 49% in 2012 as compared to 2011. Surge achieved a 99% success rate during 2012 drilling 62 gross (50.05 net) wells. The company also increased funds from operations per fully diluted share by 33 percent to $1.30 in 2012, increased production per basic share by 21% in 2012, and reduced operating costs per boe by 25 percent in 2012. Surge Energy Inc.
shares T.SGY are trading up $0-01 at $3.50.
