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Thursday, Aug 8
Sanchez Energy acquires Tuscaloosa shale acreage
- Sanchez Energy (SN) announces agreements to acquire ~40K net acres in the core of the Tuscaloosa Marine Shale trend for ~$78M.
- An unidentified party will receive 342,760 shares plus $56.5M in cash for an undisclosed stake in the play.
- SN also reported substantial growth in Q2 revenue, production and reserves, mainly due to the closing of its Cotulla acquisition from Hess.