Exploration & Production | Drilling & Completions | Well Cost | Well Lateral Length | Production Rates | Capital Markets | Capital Expenditure
Synergy Resources Lowers Well Cost in Wattenberg
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Synergy Resources Corporation has announced that its Fiscal 2015 capital forecast now includes the $75 million cash payment for the recently closed Wattenberg Field acquisition and incorporates changes in the completion design for future wells.
Excluding the acquisition capital, the Company anticipates completing 20% more net wells for less capital than originally forecasted. The Company's drilling budget is 97% focused on the core Wattenberg acreage, with the remaining 3% for drilling and de-risking its assets in the Wattenberg NE Extension Area and Nebraska.
Synergy's focus on achieving industry leading economics is producing attractive rates of return on its operated horizontal wells in the Wattenberg Field. The first five horizontal wells drilled by Synergy reached…
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