Synergy Resources (SYRG), an oil and gas exploration and production company, has reported the results of initial flow tests of eight wells on its state lease.
The company said that the production results of the lease further confirm the company’s strategy of building a high-growth exploration and production company focused on oil and gas reserves in the prolific D-J Basin.
The company has purposely elected not to complete any of these wells in the Niobrara formation in order to employ horizontal drilling for improving production.
While the initial production rates from the wells completed in the J-Sand Formation may appear to be modest, they will nonetheless pay for the incremental cost of drilling and completion in a matter of months.
SYRG holds a 75% working interest and is the operator of all the wells.