Sanchez Energy (NYSE: SN) reported Q4 EPS of $0.73, $0.63 better than the analyst estimate of $0.10. Revenue for the quarter came in at $126 million versus the consensus estimate of $139.07 million.

• Partnership with Blackstone Energy Partners (“Blackstone”) to acquire Anadarko Petroleum Corporation (NYSE: APC) (“Anadarko”) interests in the Western Eagle Ford for approximately $2.3 billion, subject to normal and customary closing conditions (the “Comanche Transaction”) announced January 12, 2017;
• Active leasing program over the last twelve months resulted in the acquisition of 65,000 acres in the oil window of the Western Eagle Ford, and 45,000 acres in the dry gas window of the Western Eagle Ford;
• Total 2016 production of 19.5 million barrels of oil equivalent (“MMBoe”), or approximately 53,350 barrels of oil equivalent per day (“Boe/d”), exceeded the Company’s 50,000 to 52,000 Boe/d guidance;
• Year-end Proved Reserves increased by over 55% (excluding acquisitions and divestitures) to approximately 193 MMBoe, and generated an approximate 430% reserve replacement ratio;
• Recent development and pilot wells de-risked the Upper Eagle Ford in Northwestern Catarina, thereby confirming the presence of this additional zone on the Comanche acreage;
• North Central Catarina Step-out appraisal pad continues to produce 10-15% above Western Stack type curve forecast with yields over 250 Bbl of liquids per MMcf of natural gas; derisking the eastern portion of the West Stack area;
• Drilling and completion costs during 2016 at Catarina and Maverick averaged approximately $3.0 million per well, which included larger completion jobs at Catarina and Maverick during the second half of the year;
• The Company’s 2017 capital budget is estimated between $425 and $475 million, including expected activity on the Comanche acreage beginning March 2017;
• The Company reported net income of $48 million for the fourth quarter 2016;
• For the year ended December 31, 2016, the company reported a net loss of $273 million;
• Fourth quarter 2016 revenues were approximately $126 million, an increase of approximately 15% percent when compared to the fourth quarter 2015; Adjusted revenue (a non-GAAP financial measure), inclusive of hedge settlement gains, was approximately $145 million during the fourth quarter 2016;
• Full year 2016 revenues were approximately $431 million; Adjusted revenue (a non-GAAP) financial measure), inclusive of hedge settlement gains, was approximately $567 million for the year;
• Adjusted EBITDA (a non-GAAP financial measure) was approximately $79 million during the fourth quarter 2016;
• Full year 2016 Adjusted EBITDA (a non-GAAP financial measure) was approximately $307 million;
• On Feb. 6, 2017, the Company reinforced its strong liquidity position by closing the previously announced public equity offering, which resulted in net proceeds of approximately $136 million; and
• As of Dec. 31, 2016, the Company had approximately $800 million in liquidity with approximately $500 million in cash and cash equivalents and an undrawn bank credit facility with an elected commitment amount of $300 million.

For earnings history and earnings-related data on Sanchez Energy (SN) click here.