Drilling & Completions | Top Story | Quarterly / Earnings Reports | First Quarter (1Q) Update
Eagle Ford Operator Ramps Up Drilling; Triples Rig Count
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Sanchez Energy reported its Q1 2019 results. Here are the highlights.
Production of 76,267 barrels of oil equivalent per day (Boe/d), or 6.9 million barrels of oil equivalent (MMBoe), a decrease of 4.6 percent compared to fourth-quarter 2018 Brought 18 gross (four net) wells online at Comanche during first-quarter 2019 with activity concentrated in Areas 3 and 5; Net loss of $67.3 million, compared to net income of $119.4 million in fourth-quarter 2018 and a net loss of $4.8 million in first-quarter 2018 Met annual drilling commitment for the period July 2018 - June 30, 2019, which includes 50 wells.What was truely amazing about Sanchez performance was the fact that the company cut capex (-91%) sequentially and (-94%) year over year, but production only fell (-7%) and (-5%)…
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