UPDATE - Canaccord Genuity Initiates Coverage on Sanchez Energy (SN) with a Buy; Eagle Ford Pure Play with Solid Inventory
Tweet
Share
E-mailGet Alerts SN Hot Sheet
Price: $180.76 +0.43%
Rating Summary:
14 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
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
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- DA Davidson Starts Everus (ECG) at Buy
- William Blair Starts Tandem Diabetes Care (TNDM) at Outperform
- Keefe, Bruyette & Woods Resumes Toronto-Dominion Bank (TD:CN) (TD) at Market Perform
Create E-mail Alert Related Categories
New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
