Sanchez Energy Corp. (NYSE: SN) has begun an exchange offer of up to $600 million aggregate principal amount of its 7.75% senior notes due 2021 that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 7.75% senior notes due 2021 that have not been registered under the Act.
The new notes will have terms that are identical in all material respects to the terms of the old notes, except that the new notes will be registered under the Act and will not have any of the transfer restrictions, registration rights or additional interest relating to the old notes. Sanchez Energy will not receive any proceeds for the exchange offer.
The exchange offer will expire at 12:00 midnight (New York City time) on July 18, unless extended. This announcement is for informational purposes only and is not an offer to purchase or a solicitation of an offer to purchase any securities.
Sanchez Energy is an independent exploration and production company focused on the acquisition and development of unconventional oil and gas resources in the onshore US Gulf Coast, with a current focus on the Eagle Ford shale play where the company has assembled 120,000 net acres. The company also has 57,000 net acres targeting the Tuscaloosa Marine shale play.