February 5, 2017: Sell Sanchez Energy for a 19.7% win. Congratulations if you were able to make money on this trade.
January 15, 2017: Sanchez Energy with Blackstone Energy Partners bought Eagleford shale assets worth $2.3 billion. At the end of the fourth quarter of 2016, sales volumes from these Eagleford shale assets totaled approximately 45,000 barrels of liquids per day and about 131 million cubic feet of natural gas per day.
The 50/50 venture between Sanchez Energy and Blackstone Energy Partners was formed to purchase 318,000 acres in the Eagleford area of Texas from Anadarko Petroleum. The Eagleford area obtained is next to assets that Sanchez Energy already owns which is ideal for Sanchez Energy.
CEO Tony Sanchez III said, “This accretive and transformative acquisition more than doubles our drilling inventory.”
On January 13, 2017, a day after Sanchez Energy announced the acquisition of the Eagleford shale assets, KLR Group raised Sanchez Energy to a Buy rating, from Hold. The fact that Sanchez Energy stock was up 29% on Friday, January 12, 2017, the KLR Group upgrade to a Buy rating, and CEO Tony Sanchez III comments tells me that this acquisition was a tremendous deal for Sanchez Energy.
Sanchez Energy Stock Chart
The Finviz screener settings used to find Sanchez Energy are: EPS growth this year 95% – 100%, EPS growth qtr over qtr 80% – 85%, Sales growth past 5 years 150% – 155%
Sanchez Energy Corporation is an independent exploration and production company focused on the acquisition and development of unconventional oil resources in the onshore U.S. Gulf Coast, with a current focus on the Eagle Ford Shale in South Texas.