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Synergy Outlines Wattenberg Rig Program for 2013 Through 2014
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Synergy Resources Corporation has reported its 18-month capital budget for the period ending August 31, 2014.
The budget calls for a one rig horizontal drilling program on the Company's 17,046 net acres in the Wattenberg Field.
The Company plans on spending $154 million on drilling and completion activity, $144 million of which will be dedicated to the drilling of twenty-five net operated horizontal wells and seven net non-operated horizontal wells in the Wattenberg Field. The Company will also spend $10 million on drilling six operated and six non-operated vertical wells in the Wattenberg Field and $35 million on additional leasehold acquisitions in the Wattenberg Field, as well as for corporate purposes, including working capital.
The following table lays out the 18-month drilling and…
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