People | People-Promotion

Synergy Resources Names Peterson as New CEO

Share Print Bookmark    |    Monday,December 14,2015

Synergy Resources Corporation announced Synergy's co-CEOs, Ed Holloway and William Scaff, are stepping down from their executive positions with the company effective December 31, 2015.

Mr. Holloway and Mr. Scaff will remain on the board of directors of Synergy.

Synergy's Board of Directors has appointed Lynn A. Peterson, current President, to the position of Chief Executive Officer effective January 1, 2016. Mr. Holloway and Mr. Scaff will also serve as advisors to Mr. Peterson regarding strategic initiatives, asset acquisitions and other activities through May 31, 2016.

Mr. Holloway remarked, "Bill Scaff and I are pleased to take this final step in the transition of leadership for Synergy. We have the utmost confidence in Lynn Peterson, and the talented industry veterans he has recruited, to take Synergy to a higher level in the development of its assets. Synergy will remain focused, disciplined and efficient under Lynn's guidance and we feel now is the appropriate time to hand over the management responsibilities to him."

Mr. Peterson commented, "We want to thank Ed and Bill for their service to Synergy over the past seven years. Their collective experience of managing oil and gas assets in the Wattenberg Field, and the conservative approach they took to the balance sheet, has placed Synergy in a position of strength in our industry during a challenging period of low commodity prices. We are grateful for their contributions to the Company. I look forward to working with them as we evaluate how best to grow the company going forward and to their continued support as members of our Board."