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Synergy Resources Finishes Acquisition Of Assets From Orr Energy
Dec. 06, 2012 09:10AM PST
Resource Investing
Synergy Resources Corporation (NYSE:SYRG) has purchased from Orr Energy certain assets that include 36 producing oil and gas wells in the Wattenberg Field of the Denver-Julesburg Basin, among a number of undeveloped leases both in the Wattenberg and surrounding area.
Synergy Resources Corporation (NYSE:SYRG) has purchased from Orr Energy certain assets that include 36 producing oil and gas wells in the Wattenberg Field of the Denver-Julesburg Basin, among a number of undeveloped leases both in the Wattenberg and surrounding area.
Highlights from press release:
– Synergy paid a total consideration of $42 million for assets
– Comprised of $30 million in cash and $12 million in Synergy common stock (aprx 3.1 million shares)
– Synergy has a 100% working interest (77% net revenue interest) in 29 of the wells, with a smaller working /net revenue interest in the remaining seven wells