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Sanchez Energy Corp

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Nov 8, 2019. Its latest SEC filing is a NT 10-K from May 15, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Develops oil and natural gas resources, mainly in the Eagle Ford Shale in South Texas, and sells the resulting production to commodity buyers.

How Did They Make Money?

Sells oil, natural gas and natural gas liquids to buyers at delivery points; customers typically pay within 30 days after the month of delivery.

FY2018 revenue

Who Were Their Customers?

Oil, natural gas and natural gas liquids buyers purchase production under marketing agreements.

Did Revenues Turn Into Profits?

Yes. It kept 8 cents of every revenue dollar as net income in FY2018.

Operating income, FY2018
28% of revenue
▲ +217% vs FY2017 ($92.4M, 12%)
Net income, FY2018
8% of revenue
▲ +97% vs FY2017 ($43.2M, 6%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Sep 30, 2019
Revenue
▼ −41%
vs $277.7M in Q3 FY2018
Net income
▼ Now a loss
vs $5.6M in Q3 FY2018
  • May 6, 2020 Bankruptcy court confirmed the company’s reorganization plan The plan cancels existing common and preferred shares, with no distribution to their holders.
  • Mar 30, 2020 Company estimated a material net loss for FY2019 It also expected material impairments to proved and unproved oil and natural gas properties.

Grew. Revenue grew 59% in 4 years, from $666.1M in FY2014 to $1.1B in FY2018, about 12% a year.

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