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Synergy Cautiously Adds Rig Following Close of Wattenberg Deal
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Synergy Resources Corporation reported its preliminary second quarter June 30, 2016 financial highlights and operations update.
Second Quarter 2016 Financial Highlights: Production sales volumes of 11.1 MBOE/day (50% oil), representing 34% production growth over the comparable period in 2015 Capital expenditures for three and six months ended June 30, 2016 were $28.3 million and $36.5 million, respectively Completed two equity offerings for total, net proceeds of $454.2 million Completed first closing of $505 million acquisition (33,100 net acres) in the Wattenberg Field Liquidity of $223.6 million at June 30, 2016 composed of $78.6 million in cash on hand and $145 million undrawn revolver The Company continued to operate one drilling rig into July 2016. A second rig has been mobilized to…- ✓ Full news archive — U.S., Canada & international coverage
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