[Context: On August 17, Sanchez Energy announced the sale of a large, contiguous Eagle Ford acreage package to an undisclosed buyer. On August 24, Quantum Energy-backed Vitruvian Exploration IV announced it was the buyer. Further details on the Javelina sale and related links are below.]
Sanchez Energy Corporation Announces $105 Million Sale of Javelina Asset
HOUSTON, Aug. 17, 2017 (GLOBE NEWSWIRE) — Sanchez Energy Corporation (NYSE:SN) (the “Company”), today announced that it has entered into a definitive agreement to sell its Javelina asset in the Eagle Ford Shale for approximately $105 million in cash. The transaction is subject to customary terms and conditions and is expected to close in the third quarter of 2017.
“This transaction highlights the value creation that our grass roots leasing program has delivered,” said Tony Sanchez, III, Chief Executive Officer of Sanchez Energy. “Over the last eighteen months we leased approximately 70,000, largely contiguous, net acres in the dry gas window of the Eagle Ford. This transaction accelerates the value of the asset, while building our liquidity and providing value to our shareholders.”
ABOUT SANCHEZ ENERGY CORPORATION
Sanchez Energy Corporation (NYSE:SN) is an independent exploration and production company focused on the acquisition and development of U.S. onshore unconventional oil and natural gas resources, with a current focus on the Eagle Ford Shale in South Texas where the Company has assembled approximately 356,000 net acres.