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Industry Brief

Sanchez Energy Corp. plans to begin an underwritten public offering of 5 million shares of the company's common stock, with the proceeds going in part to fund its pending "Catarina" acquisition in the Eagle Ford Shale (see Shale Daily, May 22). Meanwhile, Moody's Investors Service assigned a B3 rating to Sanchez's proposal to issue $700 million in unsecured notes due in 2023, the proceeds from which would also be used to finance the $639 million deal with two Royal Dutch Shell plc subsidiaries for Catarina acreage and associated production.

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