Synergy Resources Corporation
Synergy Resources Corporation (OTCBB: SYRG), an oil and gas exploration and production company, today announced results of initial production tests on two recently completed wells brought on line.
The initial 24-hour production test for the SRC 34-32 (Section 32, 6N, 66W, Weld County, CO) came in at 501,000 cu. ft. of gas and 240 barrels of water produced from the J-Sand formation at 7552â~@~Y â~@~S 7580â~@~Y interval.
the initial 24-hour production test for the second well, the SRC 44-32D (Section 32, 6N, 66W, Weld County, CO), came in at 282,000 cu. ft. of gas and 166 barrels of water produced from the J-Sand formation at 7802â~@~Y â~@~S 7830â~@~Y interval.
Synergy is the operator for the wells and holds a 62.5% working interest in each well.
Synergy Chairman Ed Holloway stated that, “These are J-Sand formation producing wells. The J-Sand is primarily a natural gas producing formation but as the wells clean up during their flowback and produce less water, they will begin to produce oil as well.”
As of January 25, 2010 Synergy had interests in oil and gas leases covering 8,050 net acres.