2010-12-29-2010-12-28

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
0MM
Description

To buy 100% WI in 4 producing wells in CO Wattenberg Field adjacent to its Pratt lease.

Synergy Resources Corp., Denver, (OTCBB: SYRG) has purchased a 100% working interest in four producing wells in Colorado Wattenberg Field from Noble Energy Inc., Houston, (NYSE: NBL) for an undisclosed price.

The wells are adjacent to Synergy's Pratt lease, which has more than 20 potential drill sites. As part of the transaction, Synergy assigned the lease rights on 340 net acres in northern Weld County to Noble Energy. Synergy retained an overriding royalty interest in the leases assigned to Noble Energy.

Synergy chief executive Ed Holloway says, "We are pleased to have consummated this acquisition with Noble Energy and by acquiring these wells it will allow Synergy to commence drilling the first of six wells on the Pratt lease by the end of the year. This transaction marks the completion of another step of our business plan as we continue to grow our cash flow and proven reserves."