Sanchez Energy acquires Tuscaloosa shale acreage

|About: Sanchez Energy Corporation (SN)|By:, SA News Editor

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.