Synergy Res.: very well positioned financially and on schedule operationally CEO Edward Holloway commented: "Between cash generated from operations, proceeds from our December equity offering, and borrowings available under our $20M revolving line of credit, we are very well positioned financially and on schedule operationally to drill the remaining wells we planned for our 2012 drilling program. We expect to sustain this momentum as we enter FY13."
News For SYRG From The Last 14 Days
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Synergy Resources begins operated horizontal drilling program in Wattenberg Synergy Resources commenced its operated horizontal drilling program on May 16 with the rigging up of Ensign Rig #17 to begin drilling the SRC Renfroe 32-1-36NHZ well on its Renfroe lease in the Wattenberg Field. Synergy's initial plan is to drill five wells from one pad site on the Renfroe lease comprised of three Niobrara and two Codell wells. The wells will be approximately 4,700 feet in lateral length and Synergy anticipates there will be between 16-20 frac stages per lateral. All the wells are being drilled under the terms of a turnkey contract with Ensign United States Drilling.