This Day On The Street
Continue to site
ADVERTISEMENT
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 Announces Drilling Of First 23 Wells Of 2012 Fiscal Drilling Program









PLATTEVILLE, Colo., Jan. 12, 2012 /PRNewswire/ -- Synergy Resources Corporation (NYSE Amex: SYRG), a domestic oil and gas exploration and production company focused in the Denver-Julesburg Basin (the "D-J Basin"), today provided an update on the Company's recently drilled wells at its prospects known as the Margil, Haythorn, Cletcher, and Leffler.

Margil Wells

On its DeClar farm-in, Synergy has drilled, completed and brought on-line six-wells at the first Margil drill site.  The six wells produced 212 barrels of oil equivalent per day during December 2011, the first full month of production. All six wells were drilled to the J-Sand. Four of the six wells were completed in the Codell, one well was completed in the J-Sand, and one well was dually completed in the Codell / Niobrara formations.  The dual completion well is currently producing from the Niobrara formation and the Codell formation is behind a bridge plug.  Due to weather and right-of-way issues affecting pipeline construction, the Company encountered slight delays on first production which was expected during the last week of October 2011; however, the six Margil wells are currently flowing into the pipeline with no constraints.  Synergy holds a 100% working interest (WI) and an 80% net revenue interest (NRI) at the Margil six-well prospect.

At the second Margil drilling location, all five wells were drilled to the J-Sand and completion activities are underway. Synergy expects first production from the five-well Margil prospect in February 2012. The Company owns a 100% WI and an 80% NRI on the prospect.

Haythorn Five-Well Prospect Sees First Production

All five Haythorn wells were successfully drilled and completed in the Codell formation. The five wells commenced production during the first week of January and initial "30-day" results will be available in February.  Synergy owns a 100% WI and 82% NRI in the wells.

1 of 3

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs