Platteville-based Synergy Resources Corp. said today that it has sold some mineral interests in the Denver-Julesburg Basin to an unidentified independent oil and gas company for $3.3 million.
The leases are undeveloped and are located in Weld and Morgan counties, said the company. It said the proceeds from the sale will be used to develop the company’s oil and natural gas properties in the Denver-Julesburg Basin’s Wattenberg Field.
William Scott, Synergy vice president, said that the company is seeking ways to expand its oil drilling program and sale of the acreage accomplishes that objective.
“We divested a very small portion of our acreage position for proceeds of $3,386,350 and retained an overriding royalty interest on these properties,” said Scott. “At the same time, we continue our disciplined approach towards the growth of the company.”Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com.
