Synergy Resources Completes Horizontal Wells on Renfroe Pad in Wattenberg Field

Synergy Resources Corporation

(Synergy), a U.S. oil and gas exploration and production company with operations focused in the D-J Basin, announces that it has completed five horizontal wells on its Renfroe pad in the Wattenberg Field. Craig Rasmuson, VP of Operations for Synergy, commented, "Four of the five wells on the Renfroe pad are in the early stages of flow back and are hooked up to production facilities. The fifth well is in final stages of completion. The five horizontal wells on the Renfroe pad are comprised of 3 Niobrara B bench and 2 Codell wells. We plan on releasing initial production rates on the wells at the end of September." Rasmuson also added, "We are continuing our horizontal drilling program with the addition of six wells on the Leffler pad. We have drilled two wells into the B bench of the Niobrara formation on the Leffler pad and anticipate twenty stages of completion on each well. We are currently drilling the third well on the pad, also a Niobrara B well, and anticipate that the conclusion of the drilling phase on the Leffler pad will occur within the next sixty days. We plan on having these wells completed and producing by December 31, 2013. The plan on the Leffler pad calls for 5 Niobrara B bench wells and 1 Codell well. We have expanded the number of horizontal well permits and now have 34 permits approved and another 41 permits in process." Synergy has grown its footprint in the Greater Wattenberg Area and now has nearly 20,000 net acres in the region. Ed Holloway, President and CEO of Synergy, stated, "We are executing on our fiscal 2014 capital expenditure budget of $157 million, which is focused on leasing, acquiring assets and horizontal development in the Wattenberg field."