Synergy Resources (SYRG) Misses Q1 EPS Views; Will Acquire Certain Assets from Noble Energy

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Go back to Synergy Resources (SYRG) Misses Q1 EPS Views; Will Acquire Certain Assets from Noble Energy

Synergy Resources Corporation Enters Into Purchase and Sale Agreement to Acquire Assets in the Heart of the Wattenberg Field

May 3, 2016 4:17 PM EDT

DENVER, CO -- (Marketwired) -- 05/03/16 -- Synergy Resources Corporation ("Synergy" or the "Company") (NYSE MKT: SYRG) today announced that it has entered into a definitive agreement with Noble Energy through private negotiations to acquire certain assets for total consideration of $505 million cash, subject to customary purchase price adjustments.

Highlights of the transaction include:

Approximately 72,000 gross (33,100 net) acres located in Weld County Colorado, primarily in and around the city of Greeley. The acquired lands are largely contiguous allowing for longer lateral lengths per well and the efficient... More

Synergy Resources Reports First Quarter 2016 Results

May 3, 2016 4:17 PM EDT

DENVER, CO -- (Marketwired) -- 05/03/16 -- Synergy Resources Corporation (NYSE MKT: SYRG), a U.S. oil and gas exploration and production company focused on the Greater Wattenberg Area of the Denver-Julesburg Basin, reported its first quarter results for the period ended March 31, 2016.

First Quarter 2016 Financial Highlights

Revenues were $18.3 million Net Loss was $51.4 million or $(0.42) per diluted share in the quarter which includes a full cost ceiling impairment charge of $45.6 million or $(0.37) per diluted share Adjusted EBITDA of $10.2 million (see further discussion... More