The $265M Sanchez Energy (SN -1%) is paying Hess (HES -3.5%) for 43K acres of south Texas shale...

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

The $265M Sanchez Energy (SN -1%) is paying Hess (HES -3.5%) for 43K acres of south Texas shale is much lower than the $820M Tudor Pickering expected, which "highlights softness in non-core Eagle Ford" shale market. The firm says the deal does not bode well for Chesapeake (CHK -5.2%); applying the price Hess received implies a $600M value to CHK's land vs. Tudor's earlier estimate of $1.25B.