Wall Street's Augury: Sanchez Energy (NYSE:SN)


Sanchez Energy Corporation (NYSE:SN) announced a definitive agreement to acquire oil and gas properties

Las Vegas, NV (I-Newswire) May 22, 2014 - The trading levels of Sanchez Energy Corporation (SN) exploded to all time high on Thursday's market activity, after the company reported a definitive agreement to acquire oil and gas properties to be named Catarina in the Eagle Ford region of south Texas from Royal Dutch Shell Plc for about $639 million, subject to usual and customary closing adjustments..

The assets, consisting of 60 MMBOE of proved reserves and 24,000 BOE/D of average first quarter 2014 production (60% liquids), are located on approximately 106,000 net acres in Dimmit, LaSalle, and Webb Counties, Texas.

This additional acreage is expected to bring the total SN position in the Eagle Ford to approximately 226,000 acres with up to 3,000 potential drilling locations and average first quarter 2014 pro forma production of approximately 42,800 BOE/D.

According to Sanchez Energy, this transaction is a catalyst in its strategy to grow through both the drill bit and prudent asset acquisitions, the acquired assets are immediately accretive to earnings and cash flow per shar and expected to generate a substantial amount of near term cash flow and fully fund their drilling and completion activities in 2015, with only a modest outspend in 2014.

Based on the company's preliminary unaudited estimates, revenues less direct operating expenses from the acquired properties were approximately $270 million in 2013 and approximately $289 million for the twelve months ended March 31, 2014.

Sanchez Energy Corporation (SN) is an independent exploration and production company focused on the acquisition and development of unconventional resources in the onshore U.S. Gulf Coast, with a current focus on the Eagle Ford Shale.

**

CRWE-PR Finance www.finance.crwe-pr.com/2014/05/22/wall-streets-augury-sanchez-energy-nysesn

Read Full Disclaimer at www.finance.crwe-pr.com/disclaimer






About Finance CRWE-PR

The Finance CRWE-PR is a leading destination for investors to connect, interact and share informatio   More..n about the stock market, covering Nasdaq, NYSE, NYSEMKT, OTCMKTS and Pink Sheet stocksLess..

Contact Information

Finance CRWE-PR
Karl Jones
11226 Pentland Downs Street
Las Vegas, NV
89141

Published in:

Business

Published On:

May 22, 2014

Print Release:

Print Release

If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.


Related Releases

Twitter Inc (TWTR) Tweets Strong Performance on Twitterer Growth, Hansen Medical (HNSN) Robot-Assisted Uterine Artery Embolization Procedures Feasible
Twitter Inc. (TWTR) reported strong financial and operating results, above Wall Street's expectations

LaSalle Network Named a Fastest-Growing Staffing Firm by Staffing Industry Analysts for 2014
Local Staffing Firm Recognized On Revenue-Based List for a Third Consecutive Year

Puma Biotechnology (PBYI) Wins a Battle on the Breast-Cancer War
Puma Biotechnology (PBYI) reported top line results from the Phase III clinical trial of the company's investigational drug PB272 (neratinib) for the extended adjuvant treatment of breast cancer

Marketing Question And Answer Webinar Scheduled For Wednesday The 23rd Of July
Lori Ballen, marketing genius and entrepreneur, is hosting, "The Ballen Method Q&A" webinar on the 23rd of July at 10AM.

The Ballen Group Is Selling A Las Vegas Home In Craig Est
A home in Craig Est subdivision of Las Vegas 89115 has been listed by The Ballen Group. After already receiving offers, this home may not be on the market long.