Exploration & Production | Top Story | Quarterly / Earnings Reports
Synergy Ramps Up Niobrara Oil Production in Q1
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Synergy Resources Corporation has reported its fiscal first quarter results for the period ended November 30, 2012.
First Quarter 2013 Financial Highlights vs. Same Year-Ago Quarter Revenues increased 86% to a $8.3 million Operating income improved 119% to $3.5 million Net income increased 38% to $2.2 million or $0.04 per share Adjusted EBITDA (a non-GAAP metric) totaled $6.0 million, up 107%, representing a 73% return on revenue At November 30, 2012, cash and equivalents totaled $12.5 million, borrowings were $5.5 million and available credit facility was $41.5 million First Quarter 2013 Operational Highlights Net oil and natural gas production increased 89% to 150,909 barrels of oil equivalent (BOE), averaging 1,658 BOE per day versus 876, as compared to the same year-ago quarter As…- ✓ Full news archive — U.S., Canada & international coverage
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