Sanchez Energy Corporation provided a drilling and production update on the Company's third quarter production and operating activities.
Sanchez Energy's estimated net production exit rate at September 30, 2012 was approximately 1,700 barrels of oil equivalent (BOE) per day, of which approximately 86% was oil. This rate represents a 42% increase over June 30, 2012 estimated net production exit rate of 1,200 BOE/d and an increase of over 350% from the same period a year ago.
Production is expected to significantly increase during the fourth quarter as the Company executes the remainder of its 2012 drilling plan and adds seven wells already drilled and currently waiting on completion. Sanchez Energy reaffirms its 2012 production exit rate guidance range of 4,000 to 5,000 BOE/d.
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