Sanchez Energy Q2 Production Exceeds High End Of Its Guidance - Quick Facts

(RTTNews) - Sanchez Energy Corp. (SN) reported that its second quarter 2016 production was approximately 5.1 million barrels of oil equivalent for average production of approximately 55,900 barrels of oil equivalent per day, which exceeded the high end of the company's guidance for the quarter by over 7%. The company's estimated total production for the second quarter represents an increase of approximately 4% over second quarter 2015 production.

The company's production mix during the second quarter 2016 consisted of approximately 32% oil, 30% natural gas liquids, and 38% natural gas.

Tony Sanchez, III, CEO of Sanchez Energy, stated: "Average cost per well during the second quarter came it at approximately $3.3 million, and our continuing focus on process improvements and efficiency gains resulted in several wells coming in below $3.0 million. With these results, we believe we have achieved a 'best in class' cost structure for this focus area. At the same time, well performance continues to improve as we test improved completion designs. With the combination of lower costs and strong production, we continue to see attractive returns on the company's capital program."