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%.
Long joined Sanchez in 2008 and helped take the company public in 2011.
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.
Find out more at sanchezenergy.com