Synergy Resources pays $78M for Wattenberg assets
Platteville-based oil and gas company Synergy Resources Corp. (NYSE: SYRG) announced Tuesday that it has struck a deal to purchase the lease rights for 4,300 acres and ownership in 25 horizontal wells in Northern Colorado’s Wattenberg Field.
The company will pay K.P. Kauffman Co. Inc., $78 million, including $35 million in cash and about 4.4 million shares of Synergy common stock.
The deal is slated to close by Oct. 30.
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Synergy officials said current production associated with the assets purchased is approximately 1,200 barrels of oil equivalent per day.
Platteville-based oil and gas company Synergy Resources Corp. (NYSE: SYRG) announced Tuesday that it has struck a deal to purchase the lease rights for 4,300 acres and ownership in 25 horizontal wells in Northern Colorado’s Wattenberg Field.
The company will pay K.P. Kauffman Co. Inc., $78 million, including $35 million in cash and about 4.4 million shares of Synergy common stock.
The deal is slated to close by Oct. 30.
Synergy officials said current production associated with the assets purchased is approximately 1,200 barrels of oil equivalent per day.
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