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News Breaks
September 13, 2012
08:24 EDTSNSanchez Energy price target raised to $38 from $36 at Canaccord
Canaccord raised Sanchez Energy's price target due to the better than expected cost of capital of the convertible preferred financing. Shares are Buy rated.
News For SN From The Last 14 Days
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April 22, 2015
08:14 EDTSNSanchez Energy reports Q1 average daily production up 141% to 45K BOE/d
Sanchez Energy reported estimated Q1 average daily production of 45,217 BOE/D, a 141% increase over 1Q14, exceeding initial guidance. Results from the company's first stacked development location, a ten well pad in Western Catarina, have exceeded initial expectations and the wells are performing above the Lower Eagle Ford type curve. Sanchez Energy currently has 544 gross producing wells with 24 gross wells in various stages of completion. Sanchez Energy anticipates 2015 CapEx will trend toward the lower end of the $600M-$650M range provided for its 2015 capital plan. Production is expected to trend toward or exceed the upper end of the 40K-44K BOE/d range provided for average 2015 production, despite the recent sale of approximately 1K BOE/d of production which closed on March 31. Average well costs are now trending below $4.5M per well at Catarina. The company stated it remains confident in executing the 2015 capital plan without the need to tap into its undrawn bank credit facility.

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