- Sanchez Energy (SN +7.2%) is sharply higher after KLR Group upgrades shares to Buy from Accumulate with an $8 price target, citing expectations that Q4 production will come in ahead of the company's guidance.
- KLR also notes rig program action in the next few years with a commodity price recovery.
- Late last week, SN said it received lender commitments to change the borrowing base under its $1.5B first lien revolving credit facility to $500M from $550M with an unchanged elected commitment of $300M.