Synergy Resources Completes Orr Energy Buy; Shares Edge Higher

By Staff,

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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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: SYRG

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