PLATTEVILLE, Colo., Feb. 21, 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 announced that it is participating in a horizontal Niobrara well with PDC Energy. Synergy Resources owns a 28.75% working interest in the Leffler 24-1-H well.
The Authorization for Expenditure (AFE) for the well proposes a 5,068 foot lateral Niobrara horizontal well with commencement of drilling on or around March 17, 2012. The well location is pooling part of the West half of Section 1, Township 6 North, Range 66 West with part of the Northeast quarter (SRC's leasehold) of the same section.
William Scaff, Vice-President and Treasurer of Synergy Resources, said, "Participation in the Leffler 24-1H well with PDC Energy marks our second horizontal well in the Niobrara formation. This announcement comes strong off the heels of our first horizontal well with Noble Energy on February 8, 2012 and is part of a multi-well drilling program in the Wattenberg that includes both horizontal and vertical wells. We look forward to providing investors with a current overview of our drilling program in an operations update that we plan to issue later this month."About Synergy Resources CorporationSynergy Resources Corporation is a domestic oil and natural gas exploration and production company. Synergy's core area of operations is in the Denver-Julesburg Basin, which encompasses Colorado, Wyoming, Kansas, and Nebraska. The Wattenberg field in the D-J Basin ranks as the 7th largest field in the U.S. in terms of proved gas reserves and 9th in production. Synergy's corporate offices are located in Platteville, Colorado. More company news and information is available at www.SYRGinfo.com. This press release may contain forward-looking statements. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.