Houston-based Surge Energy, independent oil and natural gas company focused on Midland Basin, said recently it added acreage to its portfolio in Dawson and Gaines counties in west Texas. Surge said it acquired “a substantial acreage position” in the northern Midland Basin from an undisclosed seller and plans “to test opportunities for oil well commerciality in 2023.”
Surge CEO Linhua Guan said Feb. 16 the company also added several bolt-on acreage transactions in late 2022 and early 2023 that totaled about 6,000 net acres to provide Surge with opportunities to extend horizontal well lateral lengths, increase working interest in existing units, and add new inventory within its existing footprint in Borden and Howard counties. Surge held about 114,000 net acres in Permian Basin in 2022Q3.