Synergy Prices $80.5 Million Stock Offering

Synergy Resources Corporation announced that it has priced a public offering of 14,000,000 shares of its common stock for total gross proceeds (before underwriters' compensation and estimated expenses) of approximately $80.5 million.

Credit Suisse, BofA Merrill Lynch and Citigroup are acting as joint book-running managers for the offering. The underwriters intend to offer the shares from time to time for sale in one or more transactions on the NYSE MKT, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part. The Company has granted the underwriters an option for 30 days to purchase up to an additional 2,100,000 shares of the Company's common stock. The offering is expected to close on or around January 27, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include continuing to develop its acreage position in the Wattenberg Field in Colorado, repaying amounts borrowed under its revolving credit facility, funding a portion of its capital expenditure program for the remainder of 2016, or other uses. Initially, proceeds will be used to repay amounts borrowed under the revolving credit facility.