Sanchez Energy Announces Engagement of Financial Advisor to Explore Strategic Alternatives
December 04 2018 - 3:30PM
Sanchez Energy Corporation (NYSE: SN) today announced that it has
engaged Moelis & Company LLC as financial advisor to explore
strategic alternatives to strengthen its balance sheet and maximize
the value of the company.
“Throughout this year, the company 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,”
said Tony Sanchez, III, President and Chief Executive Officer of
Sanchez Energy. “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.”
The company and management are evaluating
strategic alternatives to help provide the company with financial
stability, but no assurances can be given as to the outcome or
timing of the process. The company does not intend to make any
future announcements concerning this process unless and until the
company otherwise determines that disclosures are necessary or
appropriate.
ABOUT SANCHEZ ENERGY
CORPORATIONSanchez Energy Corporation (NYSE: SN) is an
independent exploration and production company focused on the
acquisition and development of U.S. onshore unconventional oil and
natural gas resources, with a current focus on the Eagle Ford Shale
in South Texas. For more information about Sanchez Energy
Corporation, please visit our website:
www.sanchezenergycorp.com.
COMPANY CONTACT:Kevin SmithVP
Investor Relations(281) 925-4828
Cham KingInvestor Relations & Capital
Markets(713) 756-2797
General Inquiries: (713)
783-8000 www.sanchezenergycorp.com