Daniel E. Kelly was appointed to the board of directors at Synergy Resources Corp. (SYRG), and George Seward resigned from the board, the company said Feb. 2. Kelly’s appointment became effective Feb. 1.
Kelly has 34 years’ of experience developing energy assets in Western states, and spent the last 13 years at Noble Energy Inc. (NBL). Until he retired in March 2015, he worked in several capacities including vice president in charge of the D-J Basin (Wattenberg) business unit.
In 2014, he served on the Governor's Colorado Oil and Gas Task Force. He has a bachelor’s degree from the Colorado School of Mines.
Lynn Peterson, CEO and chairman, said that Seward had been on Synergy’s board for five years.
Synergy also said that a recently completed redetermination puts its reserve-based credit facility’s borrowing base at $145 million, currently undrawn.
Peterson said that recently, a $90 million equity commitment was completed, and that between cash and the undrawn revolver there is more than $200 million in liquidity with no debt.
Synergy Resources Corp. is based in Denver.
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