This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Synergy Resources Corporation Provides Update On Drilling Activity In The Wattenberg Field

DENVER, Aug. 17, 2011 /PRNewswire/ -- Synergy Resources Corporation (NYSE Amex: SYRG), a domestic oil and gas exploration and production company focused in the Denver-Julesburg Basin (the "DJ-Basin"), today provided an operating update on its previously announced Pratt drilling program and has also begun drilling operations on the DeClar Oil & Gas farm-in acreage in the Wattenberg Field.

Synergy has successfully completed and reported initial production rates on three of its Pratt wells.  Initial production rates on the three wells include the following:
  • The Pratt 24-29D Codell formation had an initial production rate that totaled 129 barrels of oil, 374 thousand cubic feet of natural gas and 66 barrels of water in the 24 hour period.  
  • The Pratt 14-29D Codell formation had an initial production rate of 136 barrels of oil, 439 thousand cubic feet of natural gas and 66 barrels of water in the initial 24-hour period.  
  • Pratt 13-29D J Sand formation produced 238 thousand cubic feet of natural gas in the initial 11 hour period.  

Craig Rasmuson, Head of Field Operations for Synergy Resources, said, "These initial results, combined with our previous successes in the play, are encouraging.  Management believes that the Company's inventory of low-cost, prospects will bode well for the Company.  We anticipate placing the remaining five wells onto the sales pipeline before the month's end.  Regarding Pratt 13-29D, we will continue to produce in the J-Sand formation until we capture the incremental drilling costs, at which time, we'll move up-pipe to produce the Codell formation and book the subsequent reserves."

On the DeClar Oil & Gas farm-in acreage, announced earlier this month, the company has drilled two wells and is presently drilling the third well of its six (directional) wells to be drilled. The wells are targeting the J Sand, Codell and Niobrara Formations in the oily and liquid-rich region of the Wattenberg Field. All six wells are on schedule to be drilled by mid-September.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs