Synergy Resources Completes Orr Energy Buy; Shares Edge Higher

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Synergy Resources Corporation ( SYRG ) has completed the purchase of 36 producing oil and gas wells in the Wattenberg Field of the Denver-Julesburg Basin from Orr Energy. The acquisition includes undeveloped leases both in the Wattenberg and surrounding area.

Synergy paid a total consideration of $42 million for the assets, comprised of $30 million in cash and $12 million in Synergy's common stock (approximately 3.1 million shares).

SYRG is up $0.01 at $4.33, in a day's range of $4.17 - $4.38, and a 52-week range of $2.40 - $4.74.

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This article appears in: Investing , Commodities


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