Synergy Resources gets $500 million revolver commitment

By Sara Rosenberg

New York, Oct. 30 – Synergy Resources Corp. entered into a commitment for a $500 million senior secured revolving credit facility that has a $230 million borrowing base, according to a news release.

SunTrust Robinson Humphrey Inc. is the lead arranger on the deal.

The revolver agreement was entered into concurrently with the signing of a purchase and sale agreement for producing wells and leaseholds in the Wattenberg Field from a private party.

The purchase price of the assets is $125 million comprised of $87.5 million in cash and $37.5 million in Synergy common stock.

Synergy is a Platteville, Colo.-based oil and natural gas exploration and production company.

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