Exploration & Production | Quarterly / Earnings Reports | Second Quarter (2Q) Update
Synergy's 2Q Revenue Skyrockets 111%; Touts Wattenberg Results
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Synergy Resources Corporation has reported its fiscal second quarter results for the period ended February 28, 2014.
2Q 2014 Financial Highlights vs. Same Year-Ago Quarter Revenues increased 111% to $23 million Operating income increased 111% to $9.5 million Adjusted EBITDA (a non-GAAP metric) increased 122% to $17.5 million representing a 76% margin on revenues At February 28, 2014, cash and equivalents and short term instruments totaled $54.4 million, borrowings were $37 million with remaining liquidity of $53 million on borrowing base of $90 million Q2 2014 Operational Highlights Net oil and natural gas production increased to 352,537 barrels of oil equivalent (BOE), averaging 3,917 BOE per day versus 2,067, as compared to the same year-ago quarter, an average daily increase of…- ✓ Full news archive — U.S., Canada & international coverage
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