Surge Energy completed the acquisition of Astra Oil for $160m.

Surge Energy, an oil-focused E&P company, completed the acquisition of Astra Oil, a junior oil and natural gas producer, for $160m. "We believe this Transaction is an exciting opportunity for both Surge and Astra shareholders. Shareholders in the combined Company will have ownership in a sustainable, intermediate, light and medium gravity crude oil public company. Shareholders will benefit from Surge's existing dominant position in the Sparky crude oil play, and from Astra's highly focused, operated asset base, targeting high value light oil in SE Saskatchewan," Paul Colborne, Surger Energy President and CEO.