Sanchez Energy reported its 2014 capital plan and 2014 guidance. The company has a 2014 capital plan of $650M-$700M, allocated roughly 95% to the drilling and completing of approximately 70 net wells with the remainder allocated to facilities, leasing and seismic. Estimated 2014 average production rate range of 21,000BOE/D-23,000BOE/D, over 100% growth vs. 2013 through the continuation and expansion of development drilling across our Eagle Ford asset base with a production stream that is approximately 75% oil, 11% NGL's and 14% natural gas. Thr 2014 capital plan is expected to be fully funded from a combination of internally generated cash flow, cash on hand and modest borrowings under our credit facility.
- capital plan