Sanchez

Sanchez Energy Corp. on Monday cleared an early hurdle in its Chapter 11 bankruptcy after a federal court approved first day motions that allow the company to continue operating normally during the proceedings.

Two Houston-based exploration and production companies have filed for Chapter 11 bankruptcy protection after launching strategic reviews that found restructuring would be the best option as the industry confronts another volatile commodity cycle.

Sanchez Energy Corp., which is focused primarily on the Eagle Ford Shale, said Tuesday it has hired Moelis & Company LLC as financial adviser to explore strategic alternatives to strengthen the balance sheet and maximize the value of the Houston-based company.

Sanchez Midstream Partners LP (SNMP) on Wednesday announced it has executed a series of agreements with Targa Resources Corp. that put their newly formed joint venture (JV) in a position to grow their footprint in the Eagle Ford Shale while exercising the capital discipline investors have come to expect from the oil and gas industry.

Sanchez Energy Corp. has agreed to sell its natural gas-rich Javelina property in the Eagle Ford Shale in South Texas to an undisclosed buyer for $105 million.

Sanchez Energy Corp. said a new well targeting the Eagle Ford Shale in South Texas achieved record 24-hour initial production (IP) and had 30-day peak production significantly higher than its type curve for the area, as the company headed toward growing its year-over-year production by 65%.

Sanchez Energy Corp. has sold one piece of its Eagle Ford Shale portfolio to concentrate more funding in the western part of the formation, the Houston-based independent said Friday.

Houston-based Sanchez Production Partners LP (SPP) plans to change its name to Sanchez Midstream Partners LP as it completes its transformation to a midstream company.

Benefitting from a recent acquisition and production growth from legacy assets, Sanchez Energy Corp. is currently producing at a record level of about 76,000 boe/d, the company said Wednesday.