Surge Energy (TSE:SGY) has released an update.
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Surge Energy Inc. has reported a significant increase in adjusted funds flow to $82.8 million in Q2/24, a 32% rise from the previous quarter, while also achieving a $61.2 million reduction in net debt, meeting its $250 million debt target. Additionally, the company has enhanced shareholder value through dividends and share repurchases, positioning itself for an annual allocation of $48 million in excess free cash flow.
For further insights into TSE:SGY stock, check out TipRanks’ Stock Analysis page.