Synergy Reports Increase in Mid-Year Reserves, But Stock Down 1%

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Synergy Resources Corporation ( SYRG ) today announced that its third party reserve engineer, Ryder Scott Company, has evaluated the company's mid-year reserves for the period ending February 28th 2013, and reported a value of $208 million on proved reserves of 13.63 million barrels of oil equivalent ( BOE ) versus a value of $148 million and 10.66 million BOE for the period ending August 31st, 2012. The largest increase in the reserves was in the Proved Developed Producing ( PDP ) category which rose 60%. There was an increase in Proved Developed Not Producing (PDNP) reserves of 33% and an increase in Proved Undeveloped (PUD) reserves of 9%.

SYRG shares are down 1.2%



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This article appears in: Investing , Commodities

Referenced Stocks: BOE , PDP , SYRG

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