Northland Capital Markets announced today that it has acted as Co-Manager for an offering of $143.8 million of common stock for Sanchez Energy. Sanchez 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 where the Company has assembled over 275,000 net acres.
Sanchez priced the sale of 11,500,000 common shares to the public at $12.50 per share for gross proceeds of approximately $143.8 million, which includes 1,500,000 shares from the fully exercised over-allotment option. The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital.
For contacts and more information: Press Release Sanchez Energy Corporation 02/06/17