05:32 PM EST, 12/19/2024 (MT Newswires) -- Surge Energy (SGY.TO), after trade Thursday said it sold non-core natural-gas properties in Alberta for $9.5 million.

Additionally, the company noted the purchaser is assuming all future abandonment and reclamation obligations for the properties.

Following the sale, the company revised its 2025 guidance, seeing production drop to 22,500 barrels of oil equivalent per day from its prior target of 23,750 boepd.

The new adjusted funds flow per share guidance is $2.71, down from $2.73.

Surged closed down $0.16, or 3.1%, to $4.97 on the Toronto Stock Exchange, a 52-week low.