Synergy Resources drills its 100th well
The Platteville-based company also said in a mid-quarter drilling and production update that it has drilled 10 wells since June 1, the beginning of the company's fourth quarter.
Synergy plans to drill another seven wells by the end of the month.
The company expects to drill a total of 51 wells during this year's drilling program. That total, along with Synergy's working interest in new wells drilled by other operators, will increase its holdings to 207 gross wells by the end of the month.
"Drilling 51 wells in our current drilling program demonstrates our ability to execute on an aggressive plan, and provides momentum for our fiscal 2013 operations," Synergy CEO Ed Holloway said in a statement.
Synergy also is participating in four additional horizontal wells in the Niobrara formation following its first horizontal well drilled with Noble Energy Inc.
The company said it expects capital spending of $55 million next fiscal year as it remains "on plan" with its drilling programs.
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