Sanchez Energy Announces Strong Catarina Well Results; Reiterates Fourth Quarter 2017 Production Guidance
26 September 2017 - 11:33PM
Sanchez Energy Corporation (NYSE:SN) (the “Company”), today
announced that the Company recently brought the D-17 pad on-line in
Western Catarina. The six wells on the pad had an average
24-hour initial production rate of approximately 1,479 barrels of
oil equivalent per day (“Boe/d”), with approximately 28 percent
oil-weighting. The wells had an average lateral length of 6,206
feet and utilized the Company’s standard completion design of 1,730
pounds of proppant per lateral foot.
“Our recent Western Catarina wells are
outperforming our type curve projections by approximately 20%,”
said Tony Sanchez III, Chief Executive Officer of Sanchez Energy.
“The D-17 pad targeted an Upper Eagle Ford zone that is present
along the eastern margin of the Western Catarina producing
area. We currently anticipate that our success in this area
of the asset will allow us to potentially extend Western Catarina
development further eastward, potentially connecting towards South
Central Catarina.
“Despite the previously announced temporary
suspension of completion operations due to Hurricane Harvey, strong
well results across all of our Western Eagle Ford acreage have led
to a steady increase in production during the quarter. We are
currently producing at a rate of over 75,000 Boe/d, which has us on
pace to deliver production results that are in-line with our third
quarter 2017 forecast. Based on this performance, we
reiterate our fourth quarter 2017 production forecast of 80,000 to
84,000 Boe/d.”
ABOUT SANCHEZ ENERGY
CORPORATIONSanchez Energy Corporation (NYSE:SN) is an
independent exploration and production company focused on the
acquisition and development of U.S. onshore unconventional oil and
natural gas resources, with a current focus on the Eagle Ford Shale
in South Texas where the Company has assembled approximately
286,000 net acres. For more information about Sanchez Energy
Corporation, please visit our
website: www.sanchezenergycorp.com.
FORWARD-LOOKING STATEMENTSThis
press release contains, and our officers and representatives may
from time to time make, forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical
facts, included in this press release that address activities,
events or developments that Sanchez Energy expects,
believes or anticipates will or may occur in the future are
forward-looking statements, including statements relating to future
operating results and returns, our strategy and plans and our
ability to increase reserves and production and generate income or
cash flows. These statements are based on certain assumptions
made by the Company based on management's experience, perception of
historical trends and technical analyses, current conditions,
anticipated future developments and other factors believed to be
appropriate and reasonable by management. When used in this
press release, the words "will," "potential," "believe,"
"estimate," "intend," "expect," "may," "should," "anticipate,"
"could," "plan," "predict," "project," "profile," "model,"
"strategy," "future," or their negatives, other similar expressions
or the statements that include those words, are intended to
identify forward-looking statements, although not all
forward-looking statements contain such identifying words.
Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of Sanchez Energy, which may cause actual results to
differ materially from those implied or expressed by the
forward-looking statements, including, but not limited to failure
to successfully execute our business and financial strategies, the
price of oil or gas, marketing and sales of produced oil and gas,
estimates made in evaluating reserves, competition, general
economic conditions and other factors described in Sanchez
Energy's most recent Annual Report on Form 10-K and any
updates to those risk factors set forth in Sanchez Energy's
Quarterly Reports on Form 10-Q. Further information on such
assumptions, risks and uncertainties is available in Sanchez
Energy's filings with the U.S. Securities and Exchange
Commission (the "SEC"). Sanchez Energy's filings with
the SEC are available on our website
at www.sanchezenergycorp.com and on
the SEC's website at www.sec.gov. In light of
these risks, uncertainties and assumptions, the events anticipated
by Sanchez Energy's forward-looking statements may not
occur, and, if any of such events do occur, Sanchez
Energy may not have correctly anticipated the timing of their
occurrence or the extent of their impact on its actual results.
Accordingly, you should not place any undue reliance on any
of Sanchez Energy's forward-looking statements. Any
forward-looking statement speaks only as of the date on which such
statement is made and Sanchez Energy undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
COMPANY CONTACT:Kevin SmithVP
Investor Relations(281) 925-4828
Cham KingDirector Capital Markets & Investor
Relations(713) 756-2797
General Inquiries: (713)
783-8000www.sanchezenergycorp.com