Sanchez Energy Ticks 2% Higher on Drilling and Production Update

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Sanchez Energy Corp. ( SN ) is up 2.1% to $18.51 after providing an interim drilling and production update on the company's activities.

SN's estimated current net production rate is approximately 4,400 barrels of oil equivalent ("BOE) per day, of which approximately 84% was oil. This rate represents a 159% increase over Q3 2012 net production exit rate of 1,700 BOE/d.

The company is currently running two rigs in the Palmetto area, one rig in the Maverick area, and two rigs in the Marquis area. SN said that it expects to spud up to five wells between mid-December and year-end 2012.

SN is trading in a 52-week range of $16.37 - $25.37. Shares have increased 1% in the last 12 months.

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This article appears in: Investing , Commodities

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