- This topic has 8 replies, 3 voices, and was last updated 5 years, 6 months ago by
.
- Posts
Sanchez Midstream reported second quarter 2017 earnings today – from site: As of March 31, 2017, Sanchez Energy owns approximately 16% of our outstanding common units. Since March 2015, we have completed three midstream asset acquisitions and two working interest acquisitions from Sanchez Energy. Pursuant to a right-of-first-offer, Sanchez Energy has agreed to offer us the right to acquire any midstream assets that it desires to sell. However, Sanchez Energy is under no obligation to sell any assets to us or to accept any offer for its assets that we may choose to make.
Sanchez Midstream reported second quarter 2017 revenues of $25 million, rising from second quarter 2016 revenues of $12.3 million.
During the quarter, the Western Catarina system provided $14.2 million in revenue while $7.6 million came from production activity, $(1.9) million from hedge settlements and $(1.3) million from mark-to-market activity.
Sanchez Midstream reported that as of June 30, 2017 they had $178 million owed on their $215.6 million credit facility ($200 million elected commitment).
Additionally, Sanchez had $2 million in cash on hand at the end of the quarter.
Sanchez Midstream Reports Completion of Raptor Processing Plant; Expansion Coming Online in 2H17
via Criterion ResearchSanchez Midstream reported that they, in partnership with Targa, began flowing gas at the 200 Mmcf/d Raptor Processing Facility in May 2017. Additionally, the 60 Mmcf/d expansion is on track for completion in the second half of 2017.
Raptor is accepting volumes from the Carnero Gathering Pipeline that is gathering production from Sanchez Energy’s Catarina and the recently acquired Comanche asset
Sanchez also completed the SECO Pipeline, providing takeaway capacity from the processing facility to markets in South Texas.
Sanchez Energy Corporation Announces $105 Million Sale of Javelina Asset
Sanchez Energy Corporation $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.”
Via: Sanchez
Sanchez Energy to Pay Dividends on Series A and Series B Convertible Perpetual Preferred Stock in Common Stock
August 23, 2017 17:00 ET | Source: Sanchez Energy Corp
HOUSTON, Aug. 23, 2017 (GLOBE NEWSWIRE) — Sanchez Energy Corporation (NYSE:SN) (“Sanchez Energy” or the “Company”) 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 (together, the “Convertible Perpetual Preferred Stock”). The quarterly dividends on the Convertible Perpetual Preferred Stock will be payable on Oct. 2, 2017 to holders of record on Sept. 15, 2017.
The Company has elected to pay 100% of the dividends on the Convertible Perpetual Preferred Stock in shares of common stock of the Company to the extent permitted by the certificate of designations for each series of the Convertible Perpetual Preferred Stock. The common shares issued as dividends on the Convertible Perpetual Preferred Stock will be listed and tradable on the New York Stock Exchange.
- You must be logged in to reply to this topic.