Sanchez Energy Q4 Profit Rises

(RTTNews) - Sanchez Energy Corp. (SN) reported that its net income attributable to common stockholders or the fourth quarter 2016 rose to $48.32 million or $0.73 per share from $17.14 million or $0.30 per share in the prior year. The latest-quarter result included a non-cash mark-to-market loss on the value of the Company's hedge portfolio of $55.4 million and a $112.3 million gain on an asset sale.

The Company reported Adjusted EBITDA of approximately $78.7 million and Adjusted Earnings of $9.5 million for the fourth quarter 2016, which compared to Adjusted Earnings of $2.0 million reported in the fourth quarter 2015.

Revenues of approximately $126 million during the fourth quarter 2016 were up 15% compared to the fourth quarter 2015.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.1 per share and revenues of $139.07 million. Analysts' estimates typically exclude special items.

The Company's 2017 capital budget is estimated between $425 and $475 million, including expected activity on the Comanche acreage beginning March 2017.