Michael Filloon
Oil & gas, energy, hedge fund manager, commodities

Bakken Update: Synergy Has A Good Quarter Going Into A Significant Production Ramp

Synergy (NYSEMKT:SYRG) reported a very good quarter beating on the top and bottom lines. Q3 earnings were 7 cents versus Capital iQ of 6 cents/share. Revenues were up 64% YoY to $12.3 versus $12.6 million estimated. This was a pleasant surprise as I was hoping it would meet estimates. Currently I'm recommending a purchase of shares this quarter as we have some exciting news ahead for the remainder of the year. Players in the Wattenberg Field are currently under valued. I believe Bonanza Creek (NYSE:BCEI) and PDC Energy (NASDAQ:PDCE) are also favored through 2013.

Synergy has 17,046 net acres in Wattenberg Field and 20040 net acres in the Northern D-J Basin. Both are in...

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