Sanchez Energy announced that it has completed its financial restructuring and emerged from Chapter 11 as a privately held corporation under the name Mesquite Energy, Inc. In connection with the restructuring and pursuant to the plan of reorganization, the Company eliminated substantially all of the debt from its balance sheet, which totaled [...]
Sanchez Energy announced that the Company and certain of its subsidiaries have received interim approvals from the U.S. Bankruptcy Court for the Southern District of Texas for the “First Day” motions related to the voluntary Chapter 11 petitions filed on Aug. 11, 2019. “We are pleased to have received approval of our First Day [...]
Sanchez Energy announced that the Company and certain of its subsidiaries have voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The Company’s decision to make this voluntary filing follows an extensive review of strategic alternatives to align [...]
Sanchez Energy announced that the Company has elected to defer making an interest payment on its 6.125% Senior Notes due 2023 while it continues ongoing constructive discussions with its bondholders and other stakeholders on a comprehensive restructuring plan that would significantly reduce debt and strengthen its overall financial flexibility to [...]
Sanchez Energy reported financial and operating results for first-quarter 2019. A summary of the report follows: Production of 76,267 barrels of oil equivalent per day, or 6.9 million barrels of oil equivalent, a decrease of 4.6 percent compared to fourth-quarter 2018; Brought 18 gross wells online at Comanche during first-quarter 2019 with [...]
Sanchez Energy reported financial and operating results for fourth-quarter and full-year 2018 and provided its outlook for 2019. A summary of the report follows: Fourth-quarter 2018 production of 79,946 barrels of oil equivalent per day, or 7.4 million barrels of oil equivalent, an increase of six percent compared to third-quarter 2018; Year-end [...]
Sanchez Energy announced that it has received notice from the New York Stock Exchange that the company does not presently meet the additional NYSE continued listing standard which requires that a company maintain an average market capitalization of at least $50 million over a period of 30 consecutive trading days, unless at the same time the [...]
Sanchez Energy announced that it has received notice from the New York Stock Exchange that the company does not presently meet the NYSE continued listing standard which requires a minimum average closing price of $1.00 per share over a period of 30 consecutive trading days. In accordance with applicable NYSE procedures, the company plans to timely [...]
Sanchez Energy announced that it has engaged Moelis & Company LLC as financial advisor to explore strategic alternatives to strengthen its balance sheet and maximize the value of the company. “Throughout this year, the company has been focused on taking critical steps to stabilize its production profile and reduce the capital intensity of the [...]
Sanchez Energy Corp. today announced that the Board of Directors has declared a quarterly dividend of $0.609375 per share on its 4.875% Convertible Perpetual Preferred Stock, Series A and $0.812500 per share on its 6.500% Convertible Perpetual Preferred Stock, Series B . The quarterly dividends on the Convertible Perpetual Preferred Stock will be [...]
Sanchez Energy Corp. today announced financial and operating results for third quarter 2018. Highlights include: Production of 7.0 million barrels of oil equivalent , or 75,750 barrels of oil equivalent per day ; October 2018 production exceeded 80,000 Boe/d, as a focus on drilling the Lower Eagle Ford formation at Comanche, implementation of [...]
Sanchez Energy Corp. today announced the appointment of an Interim Chief Financial Officer and two new independent members to its Board of Directors. The Board also appointed Tony Sanchez, III, President of Sanchez Energy in addition to his current position of Chief Executive Officer. Cameron W. George has been appointed Interim Chief Financial [...]
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