Synergy Resources Corp. (NYSE: SYRG) entered into a purchase and sale agreement with an unnamed private party for assets in the Wattenberg field for US $17.5 million. Under the agreement entered on Aug. 27, Synergy will purchase 38 wells with a 27.5% working interest and 22% net revenue interest in 3,639 gross acres, 1,006 net acres of which 902 acres are located in the core of the Wattenberg field. Synergy will be the operator of these wells. Other assets being acquired under the agreement include interest in nine nonoperated wells and a 25% interest in a class II disposal well. Estimated average production of the acquired wells is 200 barrels of oil equivalent per day (BOE/D) as of July 31.
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