UPDATE - Canaccord Genuity Initiates Coverage on Sanchez Energy (SN) with a Buy; Eagle Ford Pure Play with Solid Inventory
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Price: $62.93 --0%
Rating Summary:
10 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
Rating Summary:
10 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
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UPDATE - Canaccord Genuity initiates coverage on Sanchez Energy (NYSE: SN) with a Buy. PT $33.00.
Analyst, John Gerdes, said, "Sanchez is almost entirely levered to the Eagle Ford Shale (~91,000 net acres), a rarity in the E&P space. Sanchez’ premier asset, the Palmetto area of Gonzales County, represents approximately eight years of inventory at the ’13E pace. The five latest Palmetto wells should recover ~650 Mboe (~80% oil) for a drill/complete cost of ~$9 million. These wells have an average PV-10 of ~$12 million by our estimate, which translates to a discounted value of ~$800 million for the 9,400 net acres. Marathon (NYSE: MRO) operates the Palmetto position under a 50/50 AMI."
To see more ratings on SN, Click Here
Analyst, John Gerdes, said, "Sanchez is almost entirely levered to the Eagle Ford Shale (~91,000 net acres), a rarity in the E&P space. Sanchez’ premier asset, the Palmetto area of Gonzales County, represents approximately eight years of inventory at the ’13E pace. The five latest Palmetto wells should recover ~650 Mboe (~80% oil) for a drill/complete cost of ~$9 million. These wells have an average PV-10 of ~$12 million by our estimate, which translates to a discounted value of ~$800 million for the 9,400 net acres. Marathon (NYSE: MRO) operates the Palmetto position under a 50/50 AMI."
To see more ratings on SN, Click Here
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