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August 15, 2014
06:02 EDTSYRGSynergy Resources announces production update
Beginning with the Union pad, Synergy began drilling well bores 220 feet apart which is a more densely spaced drilling pattern and allows for up to 24 wells per 640 acres. This tighter spacing provides Synergy with a potential inventory of over 1,000 wells on its 27,386 net acres in the Wattenberg. Horizontal drilling operations and completions are progressing according to plan. The four Kelly Farms wells are now in early production. The six Eberle wells, which include two mid reach 7,000 foot extended lateral wells with 45-47 frac stages each, are in the final completion stage and are flowing back or in initial production. Synergy's Wattenberg Field development continues with Rig #131 drilling the third well on the Kiehn pad where the company plans on a total of eight wells comprised of 4 Codell and 4 Niobrara C bench wells. Rig #134 is drilling the third well on the Weld 152 pad where the company plans on drilling six wells comprised of 3 Codell, 2 Niobrara B bench and 1 Niobrara C bench well. The third rig in Synergy's operated program, Rig #138, is scheduled to move to the Wiedeman pad later this month and begin drilling eight wells in September. The Wiedeman pad will consist of 4 Codell and 4 Niobrara wells. Four of the Wiedeman wells are planned to be 9,000 foot extended reach lateral wells and the other four will be standard length lateral wells of 4,000 feet. Depending on contribution from its non-operated horizontal wells and the performance of the Kelly Farms and Eberle wells, Synergy believes production for its fiscal fourth quarter ending August 31, 2014 will range between 5,800-6,200 BOED. With this new flush production coming on line from the Kelly Farms and Eberle pads, Synergy believes it will exit its fiscal year end at a production rate of between 8,000-9,500 BOED.
News For SYRG From The Last 14 Days
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September 30, 2014
07:33 EDTSYRGSynergy Resources reaches peak production rate of 8,700 BOED in August
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