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Dec. 29, 2015, 12:45 PM
Nov. 13, 2015, 1:48 PM
- Sanchez Production Partners (SPP +24.6%) surges after announcing it will launch a $10M stock buyback program beginning during the current quarter ending in December, and confirming it will begin a $0.40/unit quarterly cash distribution.
- SPP provides a base case forecast for 2016, which shows adjusted EBITDA of $54M-$60M and distributable cash flow of $14.4M-$20.4M, which would provide coverage on projected distributions of ~2.2x at the midpoint.
- SPP also reported Q3 financial results, including a 19.8% Y/Y revenue increase to $25.6M, largely due to a nearly 120% gain on mark-to-market activities to $12.3M; net income rose to $7.35M from a $5.69M profit during the same period last year.
Nov. 13, 2015, 12:48 PM
Nov. 12, 2015, 4:26 PM
- Sanchez (NYSEMKT:SPP): Q3 EPS of $0.55
- Revenue of $25.6M (+19.6% Y/Y)
Nov. 12, 2015, 8:37 AM
- Sanchez (NYSEMKT:SPP) declares $0.40/share quarterly dividend.
- Forward yield 17.78%
- Payable Nov. 30; for shareholders of record Nov. 20; ex-div Nov. 18.
Sep. 28, 2015, 5:31 PM
- Sanchez Energy (NYSE:SN) ended regular trading as one of the very few energy producers whose stock price held firmly higher through a miserable session, as its plan to sell certain Eagle Ford Shale midstream assets to Sanchez Production Partners (NYSEMKT:SPP) for $345M is seen as solving its liquidity problems.
- SN also confirmed it expects Q3 average production likely will meet or exceed the high end of its previous guidance of 46K-50K boe/day; the company also remains confident it can build a 20-30 well bank toward its 50 wells/year drilling commencement at Catarina at its current rig count.
- Northland Capital maintains its Outperform rating and $12 price target on SN, believing the proceeds from the asset sale will strengthen SN's liquidity position and set up the company for opportunistic acquisitions; even though SN previously discussed the possible sale of midstream assets, the move's value capture is "meaningfully positive" and underappreciated by the market.
Sep. 28, 2015, 12:43 PM
Sep. 28, 2015, 10:59 AM
- Sanchez Energy (SN +4.5%) agrees to sell pipelines, gathering and compression assets in south Texas to its Sanchez Production Partners (SPP +94.6%) affiliate for $345M to shore up its cash position.
- SN is selling 150 miles of gathering lines and other pieces of infrastructure to the MLP from the Eagle Ford Shale, where SN owns 226K net acres of oil and gas land after doubling its stake a year ago when it bought properties from Royal Dutch Shell for $639M.
- In connection with the acquisition, SPP says it will recommend that its board approve a plan to begin distributions at an initial annualized rate of $1.60/unit.
Aug. 28, 2015, 12:46 PM
Aug. 13, 2015, 4:33 PM
- Sanchez (NYSEMKT:SPP): Q2 EPS of -$3.49
- Revenue of $14.7M (-18.3% Y/Y)
Jun. 19, 2015, 12:46 PM
May 15, 2015, 7:20 AM
- Sanchez (NYSEMKT:SPP): Q1 EPS of -$0.04
- Revenue of $11.9M (+1.7% Y/Y)
Mar. 18, 2015, 12:45 PM
Mar. 12, 2015, 12:45 PM
Mar. 11, 2015, 12:47 PM
Mar. 11, 2015, 7:56 AM
- Sanchez Production Partners (NYSEMKT:SPP) says President and CEO Steve Brunner will resign effective at the close of business today to pursue other interests.
- SPP says it is not announcing a new CEO at this time, and will instead turn over day-to-day management to its general partner.
Sanchez Production Partners LP is engaged in the acquisition, development and production of oil and natural gas properties (E&P properties) as well as related midstream assets. Its reserves are located in Cherokee Basin in Oklahoma and Kansas.
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