One-Page Deal Sheet
Wattenberg Field Assets Acquired by Synergy for $42MM
SRC Energy Inc Orr Energy
Announced Date
December 06,2012
Close Date
December 06,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
42
Asset/Basin:
{"Denver-Julesburg Basin","Wattenberg Field"}
TargetZones:
{Codell,Niobrara,J-S
Net Acres
Location
Calculated Metrics( EV/Category)
Country
United States
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Subscribe to see
Synergy Resources Corporation has purchased from Orr Energy certain assets that include 36 producing oil and gas wells in the Wattenberg Field of the Denver-Julesburg Basin, along with a number of undeveloped leases both in the Wattenberg and surrounding area.
Synergy paid a total consideration of $42 million for the assets, comprised of $30 million in cash and $12 million in Synergy's common stock (approximately 3.1 million shares).
The 36 wells are currently producing at an aggregate average rate of 360 net BOE/D, with Synergy the operator on 35 of the wells. The oldest well has been…
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