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How Is the Comanche Acquisition Working Out for Sanchez Energy?

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Part 4
How Is the Comanche Acquisition Working Out for Sanchez Energy? PART 4 OF 13

Eagle Ford: Sanchez Energy’s Mainstay

An Eagle Ford company

Having looked at the Comanche acquisition made by Sanchez Energy (SN) this year and the possible implications of the deal, let’s turn to Sanchez’s centerpiece asset–the Eagle Ford. As we saw in Permian Basin Was Most Active Region for M&A Deals, the Eagle Ford was one of the three most sought-after regions for mergers and acquisitions in the oil and gas industry this year.

Eagle Ford: Sanchez Energy’s Mainstay

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Sanchez Energy (SN) holds more than 4,000 drilling locations on 356,000 net acres in the Eagle Ford. Key Eagle Ford players include EOG Resources (EOG) and Chesapeake Energy (CHK). According to SN, the Comanche acquisition added ~500 MMboe (million barrels of oil equivalent) to its total resource potential. 

According to SN’s management, proved developed producing (or PDP) and drilled uncompleted (or DUC) assets of the Comanche transaction totaled ~80% of the acquisition value.

Catarina is another significant acreage position that Sanchez Energy holds within the Eagle Ford. Speaking about its strong Western Catarina well results release recently, SN’s management noted in a press release, “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.”

Sanchez Energy purchased Catarina assets from subsidiaries of Royal Dutch Shell (RDS.A) in 2014. In the next part, we’ll see how SN’s portfolio has transformed since 2013.

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