6 June 2016director interest notice● Neutral
Sanchez Energy Corp director Alan G. Jackson acquired 25,510 shares and disposed of 7,936 in a set of related equity transactions.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 June 2016director interest notice● Neutral
Sanchez Energy Corp director Gilbert A Garcia acquired 25,510 shares and disposed of 7,936 in a set of related equity transactions.
6 June 2016director interest notice● Neutral
Sanchez Energy Corp director Thomas Brian Carney acquired 25,510 shares and disposed of 6,349 in a set of related equity transactions.
23 May 2016dividend declaration▼ Bad
Sanchez declared its quarterly preferred dividends but elected to pay them entirely in common stock rather than cash. Preserving cash at the cost of diluting the common holders - a choice it would repeat every quarter that year.
12 May 2016director interest notice● Neutral
Sanchez Energy Corp Senior Vice President - COO Christopher Heinson sold 14,264 shares at $8.12.
9 May 2016quarterly activities report▼ Bad
Sanchez Energy Corp reported a quarterly net loss of $65.8 million for the period ended 2016-03-31.
9 May 2016quarterly activities report▼ Bad
Sanchez Energy Corp reported a quarterly net loss of $65.8 million for the period ended 2016-03-31.
20 Apr 2016quarterly activities report▼ Bad
Sanchez Energy Corp reported a quarterly net loss of $65.8 million for the period ended 2016-03-31.
21 Mar 2016securities registration● Neutral
Sanchez Energy Corp registered a securities offering with the SEC using its shelf eligibility.
21 Mar 2016material agreement▼ BadMajor
The seventh credit amendment is where the lenders took control of the cash: account control agreements over every deposit account, a requirement to sweep any cash above $35 million into repayment, and half a point more interest. Sanchez was now being managed to the banks' comfort, not its own.
8 Mar 2016director officer appointment▼ Bad
Garrick Hill was made interim co-chief financial officer - a shared, temporary finance role at the low point of the price cycle.
4 Mar 2016substantial holder notice● Neutral
St. Denis J. Villere & Company, L.L.C, George V. Young, St. Denis J. Villere II, St. Denis J. Villere III, George G. Villere reported a Sanchez Energy Corp shareholding of 2,403,228 shares (3.88% of votes) in a periodic institutional filing.
16 Feb 2016substantial holder notice● Neutral
St. Denis J. Villere & Company, L.L.C, George V. Young, St. Denis J. Villere II, St. Denis J. Villere III, George G. Villere reported a Sanchez Energy Corp shareholding of 3,141,703 shares (5.07% of votes) in a periodic institutional filing.
16 Feb 2016substantial holder notice● Neutral
Rubric Capital Management, LLC, Cubist Systematic Strategies, LLC, Steven A. Cohen reported a Sanchez Energy Corp shareholding of 0.10% of votes in a periodic institutional filing.
10 Feb 2016substantial holder notice● Neutral
The Vanguard Group reported a Sanchez Energy Corp shareholding of 3,737,530 shares (6.03% of votes) in a periodic institutional filing.
25 Jan 2016material agreement▼ BadMajor
The banks cut Sanchez's borrowing base from $500 million to $425 million as oil bottomed near $30. The first hard reduction in the company's available credit, and it would not be the last.
16 Dec 2015material agreement● Neutral
Gregory Kopel joined as general counsel, an appointment a company makes when it expects to need one.
9 Nov 2015quarterly activities report▼ Bad
Sanchez Energy Corp reported a quarterly net loss of $416.9 million for the period ended 2015-09-30.
9 Nov 2015quarterly activities report▼ Bad
Sanchez Energy Corp reported a quarterly net loss of $416.9 million for the period ended 2015-09-30.
4 Nov 2015material agreement● Neutral
A fifth credit amendment updated the loan documents for the disposal of Catarina Midstream.
22 Oct 2015quarterly activities report▼ Bad
Sanchez Energy Corp reported a quarterly net loss of $416.9 million for the period ended 2015-09-30.
20 Oct 2015asset acquisition disposition● NeutralMajor
The Catarina midstream sale closed, bringing in $345.8 million from the affiliated partnership. Sanchez keeps operating the system under long-term agreements - it has sold the asset but kept the cost.
6 Oct 2015director officer appointment● Neutral
Eduardo Sanchez was appointed president, adding another family member to the executive line alongside chief executive Antonio Sanchez III and board member A. R. Sanchez, Jr.
5 Oct 2015material agreement● Neutral
A fourth credit amendment tidied up the documentation around the midstream joint venture and raised the letter of credit limit ahead of the Catarina Midstream sale.
29 Sept 2015material agreement● NeutralMajor
Sanchez agreed to sell its Catarina gathering system to affiliate Sanchez Production Partners for $345.8 million - by far the largest of the related-party sales, and enough cash to matter against the debt taken on in 2014.
12 Aug 2015listing compliance notice▲ GoodMajor
the New York Stock Exchange certified Sanchez Energy Corp's securities for listing, clearing them to begin trading.
10 Aug 2015quarterly activities report▼ Bad
Sanchez Energy Corp reported a quarterly net loss of $562.9 million for the period ended 2015-06-30.
10 Aug 2015quarterly activities report▼ Bad
Sanchez Energy Corp reported a quarterly net loss of $562.9 million for the period ended 2015-06-30.
29 July 2015bylaws amendment▼ BadMajor
Sanchez adopted a shareholder rights plan to stop anyone accumulating enough stock to jeopardise its tax loss carryforwards. Companies only protect loss carryforwards when they have large ones, and only fear accumulation when the shares are cheap - both were now true.
24 July 2015material agreement● Neutral
The banks allowed Sanchez to invest up to $80 million in an unrestricted midstream subsidiary and joint venture - building gathering infrastructure it could later sell to the affiliated partnership, which is exactly what happened.