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March 11, 2013
06:01 EDTSYRGSynergy Resources announces operations update in Wattenberg Field
Synergy Resources announces operations update in the Wattenberg Field.During Synergy's fiscal second quarter which ended February 28, the company successfully completed and brought into production 22 vertical wells in the Wattenberg Field. Of the 22 operated wells, twenty were completed in the Codell formation, one commingled in the Codell/Niobrara, and one in the Greenhorn formation. Six of the wells were brought into production during December and January, the remaining 16 wells came on line the third week of February. Synergy's owns a 100% working interest in these wells. Additionally, Synergy continues to participate in both vertical and horizontal wells as a non-operator with various operators throughout the D-J Basin.
News For SYRG From The Last 14 Days
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December 18, 2014
09:22 EDTSYRGSynergy Resources sees 2015 production up 100% YoY
Synergy Resources' fiscal 2015 capital forecast originally anticipated a maximum of $200M for 40 net operated and non-operated wells to be drilled and completed in the Wattenberg Field during fiscal 2015. The revised budget estimates $180M will be spent on drilling and completing a total of 48 net operated and non-operated wells and includes the $75M cash payment for the recently closed Wattenberg Field acquisition and incorporates changes in the completion design for future wells. Excluding the acquisition capital, the company anticipates completing 20% more net wells for less capital than originally forecasted. With these anticipated lower costs, these wells should pay back in 10-30 months and generate an IRR of 25%-120%. Executing this revised program should enable the company's FY15 production growth to exceed 100%.
December 8, 2014
07:40 EDTSYRGMany E&P target prices lowered at SunTrust
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