Key Developments: Sanchez Energy Corp (SN)

SN on New York Consolidated

30.07USD
17 Apr 2014
Price Change (% chg)

$0.39 (+1.31%)
Prev Close
$29.68
Open
$29.60
Day's High
$30.42
Day's Low
$29.51
Volume
940,145
Avg. Vol
983,395
52-wk High
$32.96
52-wk Low
$17.02

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Latest Key Developments (Source: Significant Developments)

Sanchez Energy reaffirms FY 2014 production guidance
Tuesday, 25 Mar 2014 04:15pm EDT 

Sanchez Energy Corp:FY 2014 production guidance and well count to remain unchanged.  Full Article

Sanchez Energy Corp reaffirms Q1, FY 2014 production guidance
Wednesday, 5 Mar 2014 05:16pm EST 

Sanchez Energy Corp:Expects FY 2014 production volumes of 21,000 to 23,000 BOE/Day.Expects Q1 2014 production volumes of 18,000 to 20,000 BOE/Day.  Full Article

Sanchez Energy Corp reaffirms FY 2014 production guidance; gives Q1 2014 production guidance
Monday, 27 Jan 2014 09:01am EST 

Sanchez Energy Corp:Reiterates FY 2014 average production guidance range of 21,000 to 23,000 BOE/D.Says for Q1 2014, it expects average production of 18,000 -- 20,000 BOE/D.  Full Article

Sanchez Energy Corp updates on FY 2014 production guidance
Wednesday, 15 Jan 2014 09:00am EST 

Sanchez Energy Corp:Says estimated average production rate for FY 2014 is a range of 21,000 to 23,000 BOE/D.  Full Article

Sanchez Energy Corp Expands Availability Under Revolving Credit Facility
Tuesday, 19 Nov 2013 08:00am EST 

Sanchez Energy Corp announced that it has received commitments from its lending group to increase its available borrowing base under its $500 million first lien revolving credit facility from $175 million to $300 million effective immediately.  Full Article

Sanchez Energy Corp Reaffirms FY 2014 Production Guidance
Wednesday, 6 Nov 2013 05:45pm EST 

Sanchez Energy Corp reaffirmed its total fiscal 2014 production guidance to more than double that of fiscal 2013.  Full Article

Sanchez Energy Corp Announces Completion Of Acquisition Of Eagle Ford Shale Assets From Rock Oil Company LLC-Form 8-K
Thursday, 10 Oct 2013 06:04am EDT 

Sanchez Energy Corp reported in its Form 8-K that on October 4, 2013, the Company completed its previously announced acquisition of Eagle Ford Shale assets from Rock Oil Company, LLC (Rock Oil and the assets acquired in such acquisition, the Wycross Assets) with an effective date of July 1, 2013. Including the $11.0 million deposit previously paid, total consideration for the acquisition was approximately $230.1 million, which includes the $220.0 million purchase price and approximately $10.1 million in normal and customary closing adjustments. The final purchase price is subject to further customary post-closing adjustments. The acquisition of the Wycross Assets was funded from the net proceeds of the Company’s recently completed offering of 11,040,000 shares of its common stock, par value $0.01 per share, and $200 million in aggregate principal amount of its 7.750% senior notes due 2021. The foregoing description of the Company’s acquisition of the Wycross Assets does not purport to be complete and is qualified in its entirety by reference to the Purchase and Sale Agreement (the Purchase Agreement) by and between Rock Oil, as Seller, and SN Cotulla Assets, LLC, as Buyer, dated as of September 6, 2013, which is filed as Exhibit 2.1 and incorporated by reference herein.  Full Article

Sanchez Energy Corp Announces Upsize and Pricing of Private Offering of $200 Million in Senior Notes
Friday, 13 Sep 2013 11:04am EDT 

Sanchez Energy Corp announced that it has priced its private offering to eligible purchasers of $200 million in aggregate principal amount of 7.750% senior notes due 2021 at an issue price of 96.5% of the principal amount of the notes. The offering was upsized from the previously announced $150 million aggregate principal amount and is expected to close on September 18, 2013, subject to customary closing conditions. The notes will be issued under the indenture governing Sanchez Energy's outstanding 7.75% senior notes due 2021 and will become part of the same series as such outstanding notes. Sanchez Energy intends to use the net proceeds from this offering to partially fund the previously announced Wycross acquisition, to fund a portion of its 2013 and preliminary 2014 capital budget, which is primarily focused on the Eagle Ford Shale, and for general corporate purposes, including working capital.  Full Article

Sanchez Energy Corp Announces Upsize And Pricing of Common Stock Offering
Friday, 13 Sep 2013 08:00am EDT 

Sanchez Energy Corporation announced that the pricing of an upsized underwritten public offering of 9,600,000 shares of the Company's common stock at a price of $23.00 per share. Sanchez Energy intends to use the net proceeds from this offering to partially fund the previously announced Wycross acquisition, to fund a portion of its 2013 and preliminary 2014 capital budget, which is primarily focused on the Eagle Ford Shale, and for general corporate purposes, including working capital. The Company has granted to the underwriters a 30-day option to purchase up to an additional 1,440,000 shares of common stock to cover over-allotments. The offering is expected to close on or about September 18, 2013, subject to customary closing conditions.  Full Article

Sanchez Energy Corp's Subsidiary Enters Into Purchase Assets In Eagle Ford Shale In South Texas From Rock Oil Company LLC-Form 8-K
Monday, 9 Sep 2013 07:19am EDT 

Sanchez Energy Corp reported in its Form 8-K that on September 6, 2013, SN Cotulla Assets, LLC, a wholly owned subsidiary of the Company), executed a definitive agreement to purchase assets in the Eagle Ford Shale in South Texas from Rock Oil Company, LLC for approximately $220 million in cash, subject to customary adjustments. The transaction, which has an effective date of July 1, 2013, is expected to close at the end of the third quarter of 2013, subject to customary closing conditions. The purchase and sale agreement contains representations and warranties, covenants, indemnification provisions and closing adjustments that are typical for this type of transaction.  Full Article

RESEARCH ALERT-Sanchez, Midstates, Carrizo, PDC: MLV starts with buy - Theflyonthewall.com

Nov 22 - * Sanchez Energy Corp, Midstates Carrizo PDC Energy : MLV & Co starts with buy - Theflyonthewall.com For a summary of rating and price target changes on U.S. companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Thomson ONE users, type in RT/RCH/US For a summary of rating and price target changes on Canadian companies: Reuters Eikon users, click on Reuters 3000Xtra users, double-click Thomson ONE users, type in RT/RCH/CA

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