Eagle Ford Shale-focused Sanchez EnergyCorp.’s first-quarter oil and gas production increased 376 percent over a year ago, company officials say.
The Houston-based company reported quarterly output of nearly 1.7 million barrels of oil equivalent, or 18,784 barrels of oil equivalent per day. About 72 percent of its production was oil, while the remainder of the company’s production was natural gas and natural gas liquids.
“Our ability to more than triple our first quarter production year-over-year reflects positively on both the quality of our assets and the efficiency of our operations,” saysTony Sanchez III, the company’s president and chief executive officer. “Moving forward, we will continue to leverage our proprietary systems and drilling processes to drive down costs per well, reduce drill time and enhance our capital efficiencies.”