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Stock Market & Financial Investment News

News Breaks
March 7, 2013
14:05 EDTSYRGSynergy Resources enters into joint venture in Wattenburg Extension
Synergy Resources entered into a joint venture agreement with Vecta Oil & Gas on March 1 to jointly develop oil and gas leases covering lands in Morgan & Weld counties, Colorado. Synergy and Vecta will each contribute acreage to the JV. The JV will delineate two separate areas of mutual interest. In the first area covering 45,661 net acres, Synergy will have a 35% working interest and the second area covering 2,983 net acres, Synergy will have a 65% working interest. Synergy will be the designated operator of both areas. Synergy will pay to Vecta a leasehold reimbursement fee consisting of a cash payment of $2.84M and the issuance to Vecta of 100,000 shares of its restricted common stock having a value, for purposes of the agreement, of approximately $640,000. Synergy's net acreage position in the Wattenberg Extension Area has increased by 36% to approximately 19,400 acres.
News For SYRG From The Last 14 Days
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May 22, 2015
08:06 EDTSYRGSynergy Resources to purchase remaining 35% interest in DJ Basin Greenhorn
Synergy Resources has agreed to purchase the remaining 35% working interest in the DJ Basin Greenhorn, or AMI, owned by its non-operating partner, Foreland Investments LP. The transaction is scheduled to close on May 28, subject to customary closing conditions. This acquisition gives Synergy a 100% working interest in the AMI and increases its acreage position in the AMI by 15,789 net acres. Upon closing Synergy will have approximately 93,000 net acres in the Greater Wattenberg, including 36,643 net acres in the Core Wattenberg and over 56,000 net acres in the NE Wattenberg Extension Area. The purchase price of the conveyed interests is $250 per net acre, payable in 323,745 restricted shares of Synergy's common stock, equating to approximately $3.95 million based on $12.19 price per share.

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