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Sanchez Boosts 2016 Capex; Plans to Drop One Eagle Ford Rig
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Sanchez Energy Corporation announced operating and financial results for the second quarter 2016.
Key Points: Sanchez Energy plans to increase its 2016 upstream capital spending by up to $50 million, to a range of between $250 million to $300 million The Company's Eagle Ford development plan remains primarily focused on Catarina, where the Company is currently running three rigs and expects to drop to two rigs during the fourth quarter 2016. Highlights include: Sanchez Energy plans to increase its 2016 upstream capital spending by up to $50 million, to a range of between $250 million to $300 million, which positions the Company to be able to deliver total production growth of between 5% and 8% in 2017;Total production of 5.1 million barrels of oil equivalent during the second…
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