The oil and gas leases are located in the Weld and Morgan counties in the state of Colorado and Laramie county in Wyoming.
The company earlier received a down payment of $565,439 and now received about $4.67 at the time of closing of the sale.
Synergy Resources CEO Ed Holloway said that the added additional working capital from this transaction will be invested in the company’s core area of the Wattenberg field.
Synergy Resources is an exploration and production company focused in the Denver-Julesburg (D-J) basin, which encompasses Colorado, Wyoming, Kansas and Nebraska.
According to the company, the Wattenberg field in the D-J basin ranks as the seventh largest field in the US in terms of proved gas reserves and ninth in production.
