Sanchez Energy Reveals 2014 Capital Plan Of Up To $700 Mln.

(RTTNews) - Sanchez Energy Corp. (SN) Wednesday announced capital plan for 2014 in the range of $650 million to $700 million, with most of the allocation toward the drilling and completing of about 70 net wells.

The company said that most of the drilling is expected to be at its ongoing development of the Eagle Ford Shale.

Sanchez said that the 2014 capital plan is expected to be fully funded from a combination of internally generated cash flow, cash on hand and modest borrowings.

Further, the company estimates 2014 average production rate range of 21,000 to 23,000 BOE/D which represents over 100% growth compared to 2013.