We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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The change to Platteville-based Synergy’s borrowing agreement with Bank of Choice increases the oil and gas producer’s available borrowings from $15 million to $20 million, Synergy said in a statement.
“The 33 percent increase in our line of credit from Bank of Choice registers as a strong vote of confidence for our operations and strong growth potential,´ said William Scaff, Synergy executive vice president.
The company has borrowed $5.4 million under the line of credit, Synergy said.
Synergy has drilled 39 wells so far this fiscal year with a 100 percent drilling success rate, Scaff said. It also has acquired more than 9,000 mineral acres in the Denver-Julesburg Basin that offer prospects for drilling horizontal wells in the Niobrara and Greenhorn formations.