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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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October 30, 2014
16:55 EDTSYRGSynergy Resources announces $125M purchase agreement for Wattenberg Field assets
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October 28, 2014
07:34 EDTSYRGSynergy Resources sees FY15 CAPEX $200M-$225M
Management anticipates updated CAPEX spending of $200M-$225M on the following programs with the vast majority of the drilling expenditures weighted towards the horizontal drilling program in the core of the Wattenberg Field. The company anticipates funding this program with cash on hand, cash flow from operations, proceeds from the exercise of warrants and increased use of its borrowing base on its $300M credit facility. Following is a breakdown of the company's capex plans excluding acquisitions. Sees $150M-$160M to drill operated horizontal wells in the Wattenberg Field; $30M-40M to participate as a non-operator in horizontal wells; $10M for drilling in the Northeast Wattenberg Extension Area and in Nebraska; $10M-$15M for land leasing.
07:33 EDTSYRGSynergy Resources reports Q4 EPS 13c, consensus 13c
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October 27, 2014
10:00 EDTSYRGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abraxas Petroleum (AXAS) downgraded to Hold from Buy at Stifel... Anadarko (APC) downgraded to Neutral from Buy at Goldman... Basic Energy (BAS) downgraded to Sell from Buy at Goldman... Cabot Oil & Gas (COG) downgraded to Sector Perform from Outperform at Howard Weil... Coca-Cola (KO) downgraded to Neutral from Buy at Buckingham... CommScope (COMM) downgraded at BofA/Merrill... Concho Resources (CXO) downgraded to Hold from Buy at Stifel... Consolidated Communications (CNSL) downgraded to Market Perform at Raymond James... Continental Resources (CLR) downgraded to Neutral from Buy at Goldman... Covanta (CVA) assumed with a Neutral from Outperform at Macquarie... DCP Midstream (DPM) downgraded to Neutral from Buy at Goldman... Denbury Resources (DNR) downgraded to Hold from Buy at Stifel... Diamond Offshore (DO) downgraded to Sell from Neutral at Goldman... Diana Shipping (DSX) downgraded to Hold from Buy at Deutsche Bank... EP Energy (EPE) downgraded to Neutral from Buy at Goldman... EZchip (EZCH) downgraded to Neutral from Buy at Chardan... Emerge Energy (EMES) downgraded to Neutral from Buy at Goldman... Encore Wire (WIRE) downgraded to Neutral from Buy at DA Davidson... Enduro Royalty Trust (NDRO) downgraded to Neutral from Buy at Goldman... First Niagara (FNFG) downgraded to Sector Perform from Outperform at RBC Capital... GOL Linhas (GOL) downgraded to Neutral from Buy at BofA/Merrill... Goodrich Petroleum (GDP) downgraded to Hold from Buy at Stifel... Halliburton (HAL) downgraded to Buy from Conviction Buy at Goldman... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Citigroup... ICON plc (ICLR) downgraded to Equal Weight from Overweight at Barclays... IHS Inc. (IHS) downgraded to Equal Weight from Overweight at Barclays... Jones Energy (JONE) downgraded to Hold from Buy at Stifel... Laredo Petroleum (LPI) downgraded to Sell from Neutral at Goldman... Lloyds Banking (LYG) downgraded to Underperform from Hold at Jefferies... Midcoast Energy (MEP) downgraded to Neutral from Buy at Goldman... PDC Energy (PDCE) downgraded to Hold from Buy at Stifel... PNC Financial (PNC) downgraded at Sterne Agee... Parsley Energy (PE) downgraded to Sell from Neutral at Goldman... Patterson-UTI (PTEN) downgraded to Neutral from Conviction Buy at Goldman... Pioneer Energy (PES) downgraded to Neutral from Buy at Goldman... Precision Castparts (PCP) downgraded at RBC Capital... Royal Gold (RGLD) downgraded to Neutral from Overweight at HSBC... SM Energy (SM) downgraded to Hold from Buy at Stifel... Sanchez Energy (SN) downgraded to Hold from Buy at Stifel... Scorpio Bulkers (SALT) downgraded to Hold from Buy at Deutsche Bank... Synergy Resources (SYRG) downgraded to Hold from Buy at Stifel... Ventas (VTR) downgraded to Neutral from Buy at UBS... Whiting Petroleum (WLL) downgraded to Hold from Buy at Stifel... Zumiez (ZUMZ) downgraded to Neutral from Buy at DA Davidson.
06:18 EDTSYRGSynergy Resources downgraded to Hold from Buy at Stifel
Stifel downgraded Synergy Resources and others in the Exploration & Production space to Hold citing continued downside risk to oil prices. The firm believes it is too early for value investors to buy oil stocks.

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