Sanchez Energy To Pay $265M For Hess' Eagle Ford Assets

Law360, Houston (March 19, 2013, 2:49 PM EDT) -- Sanchez Energy Corp. has agreed to put up $265 million for working interests in 43,000 oil-rich acres from Hess Corp., significantly increasing its oil reserves and more than doubling its production rate in South Texas, the companies announced Monday.

Spread across four counties within the Eagle Ford Shale, Sanchez Energy's acquisition balloons its net acreage in the region to 138,000 and consists of proved reserves containing about 13.4 million barrels of oil equivalent capable of producing 4,500 barrels per day — a 115 percent increase over...
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