Tony Sanchez III, president, and CEO of Sanchez Energy said the company has been focused on taking critical steps throughout the year to stabilize its production profile and reduce the capital intensity of the business.
“However, these operational challenges, combined with volatility in the commodity markets and the company’s leverage, led the company to review opportunities to improve its financial flexibility for continued success in the future,” Sanchez said in a statement.
- Sanchez Energy Corp. (NYSE: SN) Eagle Ford-focused company.
Sanchez Energy Corporation (NYSE: SN) today 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 business. The responsive actions taken by our team are beginning to result in increased operating margins and cash flow as we head into 2019,” said Tony Sanchez, III, President and Chief Executive Officer of Sanchez Energy. “However, these operational challenges, combined with volatility in the commodity markets and the company’s leverage, led the company to review opportunities to improve its financial flexibility for continued success in the future.”
The company and management are evaluating strategic alternatives to help provide the company with financial stability, but no assurances can be given as to the outcome or timing of the process. The company does not intend to make any future announcements concerning this process unless and until the company otherwise determines that disclosures are necessary or appropriate.
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. For more information about Sanchez Energy Corporation, please visit our website: www.sanchezenergycorp.com.
COMPANY CONTACT:
Kevin Smith
VP Investor Relations
(281) 925-4828
Cham King
Investor Relations & Capital Markets
(713) 756-2797
General Inquiries: (713) 783-8000
www.sanchezenergycorp.com