Synergy Resources -6% as it points out Wattenberg delays


Synergy Resources' (SYRG -6.1%) latest operations update highlights a new contract for a second Ensign automatic drilling rig, as expected, to execute horizontal development of its leasehold in the Wattenberg field.

However, the report also reveals delays at the Phelps and Leffler pads, and lower than anticipated production to date from the six Leffler wells.

Mizuho expects the delays will result in SYRG lowering its 5,100-5,500 boe/day production guidance for FY 2014 (Briefing.com).

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