Well Lateral Length | Production Rates | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Activity
Synergy Ups Production 22% YOY to 11,670 BOEPD; Updates Drilling Ops
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Synergy reported its preliminary fourth quarter and year-end December 31, 2016 financial results.
Production for the three months ended December 31, 2016 increased 23% year-over-year and was up 23% sequentially. Production for 2016 as a whole increased 22% from 2015, averaging 11,670 BOE/day The Company is currently drilling 12 mid-reach lateral wells (~7,500') on the Orr DSU and on the Orr State DSU. Highlights: Production sales volumes for three and twelve months ended December 31, 2016 were 13,269 BOE/day (58% oil) and 11,670 BOE/day (53% oil), respectively Drilling and completion capital expenditures for three and twelve months ended December 31, 2016 were $47.7 million and $130.9 million, respectively Liquidity of $178 million is composed of the undrawn revolver plus cash on…- ✓ Full news archive — U.S., Canada & international coverage
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