Sanchez Energy (SN) IPO Trades Lower
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The IPO for Sanchez Energy (NYSE: SN) is open for trading. Shares are trading at $20.18 after pricing 10,000,000 shares at $22, below the expected $24-$26 range.
Johnson Rice & Company L.L.C. and Macquarie Capital were the lead underwriters.
Sanchez Energy is an independent exploration and production company focused on the exploration, acquisition and development of unconventional oil and natural gas resources and recently formed for the purpose of acquiring unconventional oil and natural gas assets, including those that will be contributed to us as part of the formation transactions. The company have accumulated approximately 92,000 net leasehold acres in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in Gonzales, Zavala, Frio, Fayette, Lavaca, Atascosa, Webb and DeWitt Counties of South Texas.
Johnson Rice & Company L.L.C. and Macquarie Capital were the lead underwriters.
Sanchez Energy is an independent exploration and production company focused on the exploration, acquisition and development of unconventional oil and natural gas resources and recently formed for the purpose of acquiring unconventional oil and natural gas assets, including those that will be contributed to us as part of the formation transactions. The company have accumulated approximately 92,000 net leasehold acres in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in Gonzales, Zavala, Frio, Fayette, Lavaca, Atascosa, Webb and DeWitt Counties of South Texas.
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