Synergy Resources Corporation

Synergy Resources Corporation, a US exploration and production company focused on Colorado’s Denver basin, signed an agreement to purchase producing wells and leaseholds in the basin’s Wattenberg field. Synergy is acquiring the assets from an unnamed seller for USD 125 million—USD 87.5 million in cash and USD 37.5 million in Synergy common stock. Assets include nonoperated working interests in 17 horizontal wells, 10 of which are in production and seven are being completed. In addition, the acquisition includes 73 operated and 11 nonoperated vertical wells, plus 4,053 net acres with rights to the Codell and Niobrara formations.