Synergy Resources Corp. reported that the company has completed the final well in its oil and gas exploration and development program. The drilling program had a 100% success rate.
Synergy Resources Corporation said that twenty-two of the wells have been completed, and the other fourteen wells are in the process of being completed by the company and should be producing by the middle of September 2010.
The oil and gas exploration and development program conducted by Synergy Resources Corporation was spread across several different basins and formation, with a concentration in the Niobrara, Codell and J-Sand.
Synergy Resources Corporation reported that the first sixteen wells put onto production through the end of June 2010 have produced a cumulative 61,075 barrels of oil equivalents (BOE). The production was a mix of oil and natural gas.
Synergy Resources Corporation drilled and completed seven Meyer wells as part of the program. The Meyer #2 and #4 wells were the final two wells drilled and produced at a rate of 26 and 40 BOE per day, respectively, during an initial test period.
Synergy Resources Corporation is an oil and gas exploration and production company focused on the Denver Julesburg Basin in Colorado, Wyoming and Kansas. The basin has been producing since 1901.
For more information on the company, go to www.synergyresourcescorporation.com