Exploration & Production | Capital Markets | Capital Expenditure
Synergy Edits 2014 CapEx; Touts Revenue, Production Upswing
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Synergy Resources Corporation has reported its fiscal first quarter results for the period ended November 30, 2013.
First Quarter 2014 Financial Highlights vs. Same Year-Ago Quarter Revenues increased 132% to $19.3 million Operating income improved 103% to $7.2 million Net income increased 173% to $6.1 million or $0.08 per share Adjusted EBITDA (a non-GAAP metric) totaled $12.8 million, up 113%, representing a 67% return on revenue At November 30, 2013, cash and equivalents and short term investments totaled $61 million, borrowings were $37 million First Quarter 2014 Operational Highlights Net oil and natural gas production increased 93% to 291,904 barrels of oil equivalent (BOE), averaging 3,208 BOE per day versus 1,658, as compared to the same year-ago quarter As operator, drilled 6…- ✓ Full news archive — U.S., Canada & international coverage
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