Sanchez Energy CFO Steps Down

Sanchez CFO Steps Down
Sanchez CFO Steps Down

Michael G. Long, the Executive Vice President and CFO of Sanchez Energy plans to step down from his position within the next 45 days.

This news came one week after the company reported record revenues and production for 2014. After Monday’s announcement, Sanchez stock fell -7.05%. 

Related: Sanchez Energy Ends Year Strong

Long joined Sanchez in 2008 and helped take the company public in 2011.

Mike has contributed significantly to the formation, management and growth of Sanchez Energy since its IPO in 2011. Today the company is well positioned to continue its track record of success with strong liquidity, a solid capital structure and an asset base with an attractive and deep inventory. Mike has had a long and successful career dedicated to the energy industry, and we wish him and his family all the best as he plans this next phase of his life.
— Tony Sanchez, III, President and Chief Executive Officer of Sanchez Energy

While the company searches for a permanent replacement, Gleeson Van Riet will serve as interim co-CFO, effective immediately. Van Riet is the senior vice president of capital markets and investor relations

Sanchez Energy is heavily invested in the Eagle Ford play. Since its latest acquisition in June 30, 2014, the company holds approximately 226,00 acres in the Eagle Ford with operations in various stages of development.

Related: Sanchez Nearly Doubles Eagle Ford Acreage

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