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.
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