Surge Energy: Funding, Investors & Team (Aug 2026)
Surge Energy Inc. is an exploration and production business with an emphasis on oil. Its conventional, medium-to-light crude oil reserves and low-declining production base provide a high-quality cash flow base. Large original oil in place ("OOIP") and low recover factors are traits of Surge's elite, operated reservoirs. Surge has located approximately 975 net drilling spots on the Company's holdings, providing the Company with over 13 years' worth of drilling inventory in addition to a wide range of top-notch waterflood projects and potential future prospects. An organized, ongoing risk management and hedging approach is used by Surge Management to preserve and safeguard the balance sheet and capital projects. Common shares of Surge are listed on the Toronto Stock Exchange under the ticker SGY.
Surge Energy has raised $241M across 3 funding rounds on record, the most recent an undisclosed round of $129M announced in Aug 2024.
That round is above the $15M median round size for Energy companies tracked on FundedIQ over the last two years.
Surge Energy Company Profile and Key Stats
Latest funding round on record: Aug 2024.
Surge Energy Funding Rounds
Surge Energy raised $70.0M in an undisclosed round announced in Nov 2022.
10 months later, an undisclosed round of $42.0M was announced in Sep 2023.
11 months later, an undisclosed round of $129M was announced in Aug 2024.
Surge Energy Founders and Leadership Team
Contact details for the Surge Energy team: 1 of 2 have an email address on file.
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Surge Energy's latest round of $129M is above the median round in Energy. Medians cover the last 24 months of disclosed rounds.
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Surge Energy Funding FAQs
What does Surge Energy do?
Surge Energy Inc. is an exploration and production business with an emphasis on oil. Its conventional, medium-to-light crude oil reserves and low-declining production base provide a high-quality cash flow base. Large original oil in place ("OOIP") and low recover factors are traits of Surge's elite, operated reservoirs. Surge has located approximately 975 net drilling spots on the Company's holdings, providing the Company with over 13 years' worth of drilling inventory in addition to a wide range of top-notch waterflood projects and potential future prospects. An organized, ongoing risk management and hedging approach is used by Surge Management to preserve and safeguard the balance sheet and capital projects. Common shares of Surge are listed on the Toronto Stock Exchange under the ticker SGY.
How much funding has Surge Energy raised?
Surge Energy has raised $241M across 3 rounds on record. The most recent is an undisclosed round of $129M announced in Aug 2024.
When did Surge Energy last raise funding?
Surge Energy's most recent funding round on record is an undisclosed round of $129M, announced in Aug 2024.
Who founded Surge Energy?
FundedIQ lists Ali Abbas Jaipuri (Founder) at Surge Energy.
Who is the CEO of Surge Energy?
Paul Colborne is listed as CEO at Surge Energy.
Where is Surge Energy headquartered?
Surge Energy is based in Calgary, Alberta, Canada.
How many employees does Surge Energy have?
Surge Energy is in the 101-250 employee band.
How does Surge Energy's funding compare to other Energy startups?
Surge Energy's latest round of $129M is above the $15M median round size for Energy companies on FundedIQ across 2,284 tracked companies over the last two years.
About FundedIQ's Surge Energy Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Surge Energy is left off this page rather than filled in.
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