Synergy Resources (NYSE: SYRG) reported Q4 EPS of ($0.05), $0.06 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $32.6 million versus the consensus estimate of $36.04 million.

Net Income for the quarter and the full year include a full cost ceiling impairment charge of $13 million or ($0.10) per diluted share in the quarter and $16 million or ($0.10) per share for the full year

Fiscal 2016 Outlook

Management currently anticipates CAPEX spending of $115-$135 million on the following programs with the vast majority of the drilling expenditures weighted towards the horizontal drilling program in the core of the Wattenberg Field. The Company anticipates funding this program with cash on hand, cash flow from revenues, and use of the borrowing base on its credit facility. Following is a breakdown of the Company's capex plans if one rig is utilized for the entire fiscal year, but does not include expenditures for acquisitions.

• $90-$100 million to drill operated horizontal wells
• $10-$15 million to participate as a non-operator in horizontal wells
• $3-5 million for drilling in the Northeast Wattenberg Extension Area
• $12-15 million for land leasing

For earnings history and earnings-related data on Synergy Resources (SYRG) click here.