Back to Synergy
Synergy Resources Corporation Completes Seven Well Drilling Program

Synergy Resources Corporation (OTCBB:SYRG), today announced the completion of its initial seven well drilling program in Weld County, Colorado.

Synergy has drilled four wells, the Meyer #8, Meyer #6, Meyer #5 and Meyer #3 that targeted the Codell/Niobrara formation. All four wells, which were logged by Halliburton, showed excellent log response in the Codell and in all three benches of the Niobrara formation. Production casing was set on all four wells.

Synergy drilled the Meyer #7, Meyer #4 and Meyer #2 wells that targeted the Codell/Niobrara/J-Sand formations. Halliburton’s logs showed that all wells had excellent log response in the Codell and three benches of Niobrara pay zones. The J-Sand pay zone showed good log response in all three wells and production casing was set to cover all five pay zones in the Meyer #7, #4, and #2 wells.

Tank battery construction has begun on all seven wells. DCP, the natural gas pipeline company that is purchasing the natural gas on the Meyer lease, is finalizing pipeline right of way and will begin pipeline construction as soon as right of way is finalized. Estimated completion date is November 2009. Upon completion of the pipeline, the wells will be fracture stimulated and placed in production.

Synergy Resources Corporation is the operator of the seven Meyer wells and has a 62.5% working interest in the Meyer #8, #7, #6, #5, and #3 and 43.875% working interest in the Meyer #4 and 31.25% working interest in the Meyer #2. Anadarko Petroleum Corporation (NYSE: APC), Francis Energy, Petroleum Exploration and Management LLC and Sundance Energy Australia Limited (ASX: SEA) have varying working interests in the Meyer wells.

About Synergy Resources Corporation

Synergy Resources Corporation is a development stage 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 has corporate offices in Platteville, Colorado and on 17th Street in downtown Denver. 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.

(c) 2009 Business Wire, Inc., All rights reserved. All of the news releases and other content contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. Any copying or reproduction (other than for an individual user's personal reference), redistribution, reposting or other transmission or communication is expressly prohibited without prior written permission of Business Wire, Inc
Back to Synergy
Wikinvest © 2006, 2007, 2008, 2009. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki