SOURCE: Synergy Resources Corporation

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June 23, 2016 08:00 ET

Synergy Resources Corporation Announces Management Changes; Election of Directors; and Participation in Upcoming Investor Events

DENVER, CO--(Marketwired - June 23, 2016) - Synergy Resources Corporation ("Synergy" or the "Company") (NYSE MKT: SYRG) today announced changes to its management team, the results of its annual meeting held on June 22, 2016, and participation in energy specific investor conferences.

Management Changes

The Company announced that Michael Eberhard has been named Chief Operating Officer-Operations and Nick Spence has been named Chief Operating Officer-Development, with joint responsibility over all facets of the Company's drilling, completion and production operations. At the same time Craig Rasmuson has been named Executive Vice President of Business Development.

Board of Directors

At the Company's Annual Meeting on June 22, 2016 the following individuals have been elected by the shareholders to serve as directors of the Company for the upcoming year: Lynn Peterson, Jack Aydin, Daniel Kelly, Paul Korus, Raymond McElhaney and Rick Wilber.

Management Commentary

Lynn Peterson, CEO, of Synergy commented, "We are very pleased to announce the promotion of Mike and Nick as co-heads of our technical team where they will assume charge of the Company's growing operational program. As both are petroleum engineers with a vast background of knowledge they bring significant credentials to our operations. Craig's move to business development will allow him to better utilize his skill set as the Company continues to grow its footprint in the Wattenberg Field. We welcome Paul Korus to our Board along with his extensive financial knowledge and I certainly want to thank the two founders of the Company, Ed Holloway and Bill Scaff, as well as outgoing Board member Bud Noffsinger for their service as they guided the Company through its early years. The Company's current slate of directors provide us with strong independence and business acumen at the board level."

Upcoming Conference Events

Synergy announces that members of its senior management team will be participating in the following investor conferences:

JP Morgan Inaugural Energy Equity Conference 2016
James Henderson, EVP Finance and CFO will present on Tuesday June 28, 2016 at 2:20 p.m. Eastern Time
New York, NY

Seaport Global Securities Energy and Industrials Conference
Nick Spence COO-Development and Brant DeMuth VP Finance will attend meetings on June 29, 2016
Chicago, IL

Please check the Company's website at www.syrginfo.com for a copy of Synergy's corporate presentation which will be available prior to the Company's presentation.

About Synergy Resources Corporation

Synergy Resources Corporation is a domestic oil and natural gas exploration and production company. Synergy's core area of operations is in the Wattenberg Field in Northern Colorado which is part of the Denver-Julesburg Basin. The Company's corporate offices are located in Denver, Colorado.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

Statements in this news release related to the Company's future plans and opportunities, including statements regarding the expected benefits of the personnel changes described herein and all other statements other than statements of historical fact, are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from the forward-looking statements, including the risk of adverse changes in commodity prices, general economic and financial conditions, or the regulatory environment, and the risk that drilling and other activities will be unsuccessful or fail to meet expectations. Synergy urges you to carefully review and consider the cautionary statements made in the "Risk Factors" sections of the Company's Transition Report on Form 10-K for the four months ended December 31, 2015, filed with the Securities and Exchange Commission ("SEC") on April 22, 2016, and Quarterly Report on Form 10-Q for the three months ended March 31, 2016, filed with the SEC on May 3, 2016, and other filings with the SEC, all of which are incorporated by reference herein, for further information on risks and uncertainties that could affect the Company's business, financial condition and results of operations. The Company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date made. Synergy undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this release or currently unknown facts or conditions or the occurrence of unanticipated events. All forward looking statements are qualified in their entirety by this cautionary statement.

Contact Information

  • Company Contact:
    Brant DeMuth
    Synergy Resources Corporation
    Tel 720-616-4309
    Email: bdemuth@syrginfo.com