HOUSTON, Sept. 26, 2017 (GLOBE NEWSWIRE) -- Sanchez Energy Corporation (NYSE:SN) (the “Company”), today announced that the Company recently brought the D-17 pad on-line in Western Catarina. The six wells on the pad had an average 24-hour initial production rate of approximately 1,479 barrels of oil equivalent per day (“Boe/d”), with approximately 28 percent oil-weighting. The wells had an average lateral length of 6,206 feet and utilized the Company’s standard completion design of 1,730 pounds of proppant per lateral foot.
“Our recent Western Catarina wells are outperforming our type curve projections by approximately 20%,” said Tony Sanchez III, Chief Executive Officer of Sanchez Energy. “The D-17 pad targeted an Upper Eagle Ford zone that is present along the eastern margin of the Western Catarina producing area. We currently anticipate that our success in this area of the asset will allow us to potentially extend Western Catarina development further eastward, potentially connecting towards South Central Catarina.
“Despite the previously announced temporary suspension of completion operations due to Hurricane Harvey, strong well results across all of our Western Eagle Ford acreage have led to a steady increase in production during the quarter. We are currently producing at a rate of over 75,000 Boe/d, which has us on pace to deliver production results that are in-line with our third quarter 2017 forecast. Based on this performance, we reiterate our fourth quarter 2017 production forecast of 80,000 to 84,000 Boe/d.”
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 286,000 net acres. For more information about Sanchez Energy Corporation, please visit our website: www.sanchezenergycorp.com.
This press release contains, and our officers and representatives may from time to time make, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Sanchez Energy expects, believes or anticipates will or may occur in the future are forward-looking statements, including statements relating to future operating results and returns, our strategy and plans and our ability to increase reserves and production and generate income or cash flows. These statements are based on certain assumptions made by the Company based on management's experience, perception of historical trends and technical analyses, current conditions, anticipated future developments and other factors believed to be appropriate and reasonable by management. When used in this press release, the words "will," "potential," "believe," "estimate," "intend," "expect," "may," "should," "anticipate," "could," "plan," "predict," "project," "profile," "model," "strategy," "future," or their negatives, other similar expressions or the statements that include those words, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.
Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Sanchez Energy, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, including, but not limited to failure to successfully execute our business and financial strategies, the price of oil or gas, marketing and sales of produced oil and gas, estimates made in evaluating reserves, competition, general economic conditions and other factors described in Sanchez Energy's most recent Annual Report on Form 10-K and any updates to those risk factors set forth in Sanchez Energy's Quarterly Reports on Form 10-Q. Further information on such assumptions, risks and uncertainties is available in Sanchez Energy's filings with the U.S. Securities and Exchange Commission (the "SEC"). Sanchez Energy's filings with the SEC are available on our website at www.sanchezenergycorp.com and on the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events anticipated by Sanchez Energy's forward-looking statements may not occur, and, if any of such events do occur, Sanchez Energy may not have correctly anticipated the timing of their occurrence or the extent of their impact on its actual results. Accordingly, you should not place any undue reliance on any of Sanchez Energy's forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made and Sanchez Energy undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
VP Investor Relations
Director Capital Markets & Investor Relations
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Sanchez Energy Corp