Exploration & Production | Top Story | Quarterly / Earnings Reports
Synergy Ups Wattenberg Well Count to 294 in Q3
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Synergy Resources Corporation has reported its fiscal third quarter results for the period ended May 31, 2013.
Third Quarter 2013 Financial Highlights vs. Same Year-Ago Quarter Revenues increased 64% to $12.3 million Operating income increased 26% to $4.9 million Net income increased 32% to $3.6 million Adjusted EBITDA increased 61% to a total of $9.3 million, representing a 76% return on revenue Third Quarter 2013 Operational HighlightsNet oil and natural gas production increased to 207,543 barrels of oil equivalent (BOE), a year over year increase of 66%.
Average daily production increased to 2,256 BOE, a sequential quarter increase of 9% from 2,067 BOE produced during the second quarter and a 66% increase from 1,356 BOE in the year-ago quarter.
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