sanchez energy corp
(SN:New York Consolidated)
sanchez energy corp (SN) Key Developments
Sanchez Energy Corporation reported unaudited operating and earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues were $30.8 million, a 303% increase over first quarter 2012 revenues of $7.6 million. Adjusted EBITDA attributable to common stockholders was $17.5 million or $0.53 per basic and $0.48 per diluted common share compared to $3.6 million or $0.11 per basic and diluted common share, in the first quarter of 2012. Adjusted net income was $4.3 million or $0.13 per basic and diluted share as compared to $1.5 million or $0.04 per basic and diluted share during the first quarter of 2012. Net loss attributable to common stockholders of $2.1 million or $0.06 per basic and diluted common share compared to a net loss of $3.0 million or $0.09 per basic and diluted common share reported for the first quarter of 2012. For the quarter, the company reported production of 355 MBOE, an increase of 106%, over the fourth quarter of 2012 and an increase of 320%, over the same period a year ago. The production increases in 2013 were due to the drilling and completing of 25 new wells since the first quarter of 2012, partially offset by normal production declines. For the second quarter of 2013, the company expects production of 700 MBOE to 800 MBOE. For the year 2013, the company expects production of 3,500 MBOE to 4,000 MBOE.
Sanchez Energy Corporation, Annual General Meeting, May 22, 2013., at 09:00 Central Standard Time. Location: Heritage Plaza. Agenda: To elect one Class I director for a term of three years; to approve an amendment to the company's amended and restated Certificate of Incorporation to add a director exculpation provision; to ratify the selection of BDO USA, LLP as the company's independent registered public accountants for 2013; and to transact such other business as may properly come before the Annual Meeting.
Sanchez Energy Corporation, Q1 2013 Earnings Call, May 08, 2013
To discuss Sanchez Energy's Eagle Ford acquisition
Sanchez Energy Corporation announced unaudited financial results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total revenues of $16.696 million against $4.647 million a year ago. Adjusted EBITDA attributable to common stockholders was $8.182 million against $2.093 million a year ago. Adjusted net income attributable to common stockholders was $1.619 million or $0.05 per diluted share against $0.607 million or $0.03 per diluted share a year ago. Adjusted net income attributable to common stockholders of $1.6 million. For the year, the company reported total revenues of $43.158 million against $14.516 million a year ago. Adjusted EBITDA attributable to common stockholders was $22.827 million against $6.699 million a year ago. Adjusted net income attributable to common stockholders was $7.346 million or $0.22 per diluted share against $2.448 million or $0.11 per diluted share a year ago. Adjusted net income attributable to common stockholders of $7.3 million. For the quarter, the company had production of 172.4 MBOE, an increase of 38.7 MBOE, or 29%, over the third quarter of 2012 and an increase of 116.4 MBOE, or 208%, over the same period a year ago, with 95% of the production volume oil. For the year, the company reported production of 468.8 MBOE, an increase of 295.1 MBOE, or 170%, over the same period a year ago, with 89% of the production volume oil. The company's current expectations for 2013 are to drill 33.5 net wells, and comfortable with 2013 production guidance, which projects an increase in full year production volumes of over 400% and a 100% increase in expected year over year production exit rate.
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Industry Analysis
SN
Industry Average
| Valuation | SN | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 10.9x |
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| Price/Book | 1.2x |
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| Price/Cash Flow | 55.4x |
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| TEV/Sales | 6.6x |
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