Synergy earns 2Q profit, eyes acquisitions

PLATTEVILLE – Synergy Resources Corp. (NYSE MKT: SYRG) earned $4.6 million during its fiscal second quarter, down from $5.2 million during the same period a year earlier.

The company posted $23.7 million in revenue during the fiscal second quarter ended Feb. 28, a 3 percent increase from $23 million during the same quarter a year earlier. The higher revenue stemmed from a 98-percent increase in production from Synergy’s horizontal wells and production related to its acquisition of Denver-based Bayswater Exploration & Production’s Wattenberg field assets Dec. 15.

Synergy’s average selling price of oil and natural gas declined 48 percent to $43.51 per…