Sanchez Energy Expects Eagle Ford Development Spending to Near $600 Million

Approximately 10% of Spending Is Directed to the Tuscaloosa Marine Shale
Sanchez Energy Eagle Ford Map Jan 2014

Sanchez Energy Eagle Ford Map Jan 2014 | Click to Enlarge

Sanchez Energy has set its capital budget for 2014 at $650-700 million.

Approximately 95% ($617-665 million) will be spent on drilling and completing wells and 90% of that ($556-599 million) will be spent in the Eagle Ford.

Sanchez expects to double production in 2014 and average 21,000-23,000 boe/d.

Tony Sanchez III, President and Chief Executive Officer, stated, “All of our core Eagle Ford positions are performing at or above our expectations and are in full scale development mode. We made tremendous strides last year strategically and operationally.”

Sanchez acquired Tuscaloosa Marine Shale (TMS) acreage in 2013, but the play is not expected to materially contribute to the company’s bottom line in 2014. Sanchez will spend approximately $65 million drilling exploration wells in the TMS this year.

Read the full press release at sanchezenergycorp.com

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R.T. Dukes

R.T. Dukes

Managing Editor at EagleFordShale.com
R.T. is the managing editor of EagleFordShale.com. In prior roles, he advised major oil companies on strategy, the macro business environment, and opportunity screening. 2503 Robinhood, Houston, TX, 77005, U.S.A. | Telephone: 832.429.4790

Comments

  1. It will be interesting to see how well they do in the TMS

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