Sanchez Energy Corporation (NYSE: SN) had a blockbuster 2016, partnering with Blackstone the companies acquired Anadarko’s acreage in the Eagle Ford which is expected to close in the first quarter of 2017. This acquisition adds 132 DUCs, 3,400 drilling locations and 67,000 net Boe per day. The company optimized its well design in Catarina decreasing drilling and completion costs which are currently around $3 million per well.
In 2017, the company is expecting to spend $425 to $475 million and increasing in 2018 to around $500 million. For the year, 91% of the budget is allocated to Catarina (37%), Maverick (23%) and Comanche (31%). The majority of activity in Catarina and Maverick will be in the first half of the year. [read more]
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