Sanchez Energy Enlists Advice from Restructuring Firm

Houston-based Sanchez Energy Corporation has tapped Moelis & Company LLC as a financial advisor as the company explores strategic alternatives to strengthen its balance sheet, the company announced Dec. 4.
Moelis & Company is a firm that advises organizations on mergers and acquisitions, recapitalizations and restructurings.
“Throughout this year, [Sanchez] has been focused on taking critical steps to stabilize its production profile and reduce the capital intensity of the business. The responsive actions taken by our team are beginning to result in increased operating margins and cash flow as we head into 2019,” Sanchez Energy’s CEO Tony Sanchez, III, said in a company statement. “However, these operational challenges, combined with volatility in the commodity markets and the company’s leverage, led the company to review opportunities to improve its financial flexibility for continued success in the future.”
Sanchez did not give any further information regarding the announcement but did indicate there would be no future announcements concerning the process until the company deems it appropriate.
Sanchez Energy is an independent E&P company focused on U.S. onshore unconventionals. As of December 2017, it has assembled 285,000 net acres in the Eagle Ford and owns about 37,000 net acres in the Tuscaloosa Marine Shale (TMS) in southwest Mississippi and northeast Louisiana.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Biden To Support ConocoPhillips Alaska Oil Project, Defying Greens
- Exxon Beats Earnings Record With With Massive $56 Billion
- Russian Refinery Products Will Flow In 2023 Despite EU Price Cap
- Cnooc's $3Bn UK Portfolio Sale Has Stalled Over Valuation Gap
- European Union Debuts First-Ever Carbon Border Tax
- OPEC+ Keeps Output Steady Amid China and Russia Uncertainty
- Is The USA Strategic Petroleum Reserve Stock Dangerously Low?
- Top Headlines: Valaris Employee Reported Missing from Rig
- What Bad Habits Should Oil and Gas Jobseekers Avoid?
- Police to Board Valaris Rig After Worker Reported Missing
- Big Oil Saw Record $199Bn Profits In 2022 But 2023 Will Be Different
- Governor Issues Disaster Declaration for Southeast Texas
- Risk Premium Embedded in USA NatGas Vanishes
- Offshore Rigs Set For Very Busy Year In 2023
- Norwegian Tax Break Ensures Increase Of O&G Supply To Europe
- World Still Waiting to See What China Reopening Means
- Valaris Employee Reported Missing from Rig
- Louisiana, Texas To Gain Thousands of Energy Jobs At Start of 2023
- Where Will WTI Oil Price Be at End 2023?
- Is the USA Shale Boom Over?
- Gasoline and Diesel Prices Expected to Fall
- Higher Oil Prices Have Not Led to More Exploration
- Shell Finds Gas In Pensacola High-Impact Well Off UK
- Talos Makes Two Commercial Discoveries In Gulf Of Mexico
- Iran Oil Gushes Into Global Market
- Will Oil Hit $100 Per Barrel in 2023?