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News Breaks
May 7, 2013
06:33 EDTSNSanchez Energy initiated with a Buy at SunTrust
Target $24.
News For SN From The Last 14 Days
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October 5, 2015
07:06 EDTSNSanchez Energy enters into midstream JV with Targa Resources Partners
Sanchez Energy (SN) announced that it has entered into joint venture agreements with Targa Resources Partners LP (NGLS) to construct a new cryogenic natural gas processing plant and associated high pressure gathering pipelines near Sanchez Energy's Catarina asset in the Eagle Ford Shale. The processing plant, which will be located in La Salle County, Texas, is expected to have initial capacity of 200M cubic feet per day, or MMcf/d, with the ability to increase to 260 MMcf/d. In connection with the joint venture agreements, Sanchez Energy intends to invest approximately $115M and receive a 50% ownership interest in the plant and the approximately 45 miles of high pressure gathering pipelines that will connect SN's existing Catarina gathering system to the plant. Targa will hold all of the transportation capacity on the pipeline, and the gathering joint venture will receive fees for transportation. The new midstream joint ventures are expected to provide significant operational and commercial benefits and improve yields, increase net-back prices, and lower the gathering and transportation fees SN currently pays for its Catarina production. Sanchez Energy has firm capacity for 125,000 Mcf/d of plant processing and associated pipeline capacity for the first five years and has dedicated the Catarina acreage and all production developed during the 15 year term. The company has the option to deliver additional volumes and commit additional acreage to the new plant as production increases. The natural gas processing plant and gathering pipelines will be designed, built and operated by Targa. The plant is expected to be operational by early 2017.
October 2, 2015
07:02 EDTSNSanchez Energy names Eduardo Sanchez president
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