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Sanchez Sees Success from Eagle Ford Zipper Fracs, TMS Ops

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Sanchez Sees Success from Eagle Ford Zipper Fracs, TMS Ops

Sanchez Energy Corporation has reported operating and financial results for the first quarter 2014.

Highlights: Record revenues of $134.6 million, an increase of 334% over the same period a year ago Adjusted EBITDA, a non-GAAP financial measure defined below, of $96.2 million, an increase of 358% over the same period a year ago Adjusted Net Income, a non-GAAP financial measure defined below, of $9.0 million, an increase of 110% compared to the same period a year ago  Liquidity of $436 million as of March 31, 2014 consisting of $400 million in undrawn capacity on our secured revolving credit facility (with a $325 million elected commitment amount), and $111 million in cash and cash equivalents Substantial reduction in drilling and completion costs per well, as detailed in the comments…
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