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Synergy's Nine Month Output Jumps 22% YOY; Borrowing Base Increased
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Synergy Resources reported its third quarter September 30, 2016 financial results and operations highlights.
Highlights: Production sales volumes of 10.8 MBOE/day (52% oil) Capital expenditures for three and nine months ended September 30, 2016 were $46.4 million and $83.2 million, respectively Borrowing base increased by $15 million to $160 million Current liquidity of $223.8 million composed of undrawn revolver and $63.8 million in cash on handProduction for the three months ended September 30, 2016 declined 10% year-over-year and was down 3% sequentially.
However, production for the 9-month period ended September 30, 2016 was up 22% from the same period of a year ago averaging 11,133 BOE/day, in line with the Company's full year guidance. Synergy's oil differentials improved for the…
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