anchez Energy sees Q1 production 18,000-20,000 Boe/d
Sanchez Energy, in slides accompanying a conference presentation, said it sees Q1 production of 18,000-20,000 Boe/d. The company also reiterated its 2014 production guidance for 21,000-23,000 Boe/d and for yearly capital expenditures of $650M-$700M, which it had given on January 15. Shares of Sanchez Energy remain down more than 9% in afternoon trade.
That was an absolutely idiotic comment by the Fly because the company had this EXACT same forecast way back on January 27th with its year end production release. And this is not a change, still 18,000 to 20,000.
This has NOTHING to do with the preferred, this is all about the Sante North well which was reported at 150 bopd but the revelation that not al the plugs were drilled out has calmed the market and hence the huge bounce from the bottom. Issue is does the well condemn SN's Marquis area to the North or is it just a mechanical issue, I lean to the mechanical issue. Think this was a great buying opportunity.
Bought this company based on it's chart above 30.70 not sure what to make of it but thinking ahout selling.. any other news their to support otherwise? hate to sell on such a big down day sometimes market just over reacts.