Sanchez Energy buys Eagle Ford assets from Hess for $265 mln

March 18 Mon Mar 18, 2013 4:20pm EDT

March 18 (Reuters) - Sanchez Energy Corp said on Monday it has signed a $265 million deal for producing oil assets and reserves in the Eagle Ford formation in South Texas from Hess Corp, which is shedding properties as investors press for change.

The all-cash deal consists of about 13.4 million barrels oil equivalent (BOE) of proved reserves and 4,500 BOE per day of current production on 43,000 acres, Sanchez said in a news release.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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