SANCHEZ ENERGY CORPORATION (OTCMKTS:SNZYP) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On April18, 2017 (the Effective Date),
Sanchez Energy Corporation (the Company), each of
SN Palmetto, LLC (f/k/a SEP Holdings III, LLC)
(SN
Palmetto), SN Marquis LLC (SN Marquis), SN
Cotulla Assets, LLC (SN Cotulla), SN
Operating, LLC (SN Operating), SN
TMS, LLC (SN
TMS), SN Catarina, LLC (SN Catarina), SN
EF Maverick, LLC (SN Maverick) and
Rockin L Ranch Company, LLC (RLRC and together
with SN Palmetto, SN Marquis, SN Cotulla, SN Operating, SN TMS,
SN Catarina and SN Maverick, collectively, the Guarantors and
the Guarantors and the Company, collectively, the
Loan
Parties), Royal Bank of Canada, as administrative
agent (the Administrative
Agent), and the lenders party thereto entered into
an eighth amendment (theAmendment) to the
Second Amended and Restated Credit Agreement, dated as of June30,
2014, by and among the Company, the Guarantors, the
Administrative Agent and the lenders party thereto (as amended,
the Credit
Agreement).

The Amendment, among other things, amended the Credit Agreement
and its exhibits and schedules to (a)reflect the formation of
additional restricted subsidiaries and unrestricted subsidiaries,
(b)change certain covenant baskets, decrease or eliminate certain
other baskets primarily related to repurchases of securities, and
revise the limitations on swap agreements, (c)update certain
schedules to the Credit Agreement, and (d)provide for other
technical amendments, clarifications and corrections.

From time to time, the agents, arrangers, book runners and
lenders under the Credit Agreement and their affiliates have
provided, and may provide in the future, investment banking,
commercial lending, hedging and financial advisory services to
the Company and its affiliates in the ordinary course of
business, for which they have received, or may in the future
receive, customary fees and commissions for these transactions.

This summary of the Amendment does not purport to be complete,
and is qualified in its entirety by reference to the Amendment,
which is filed as Exhibit10.1 to this Current Report on Form8-K
and is incorporated by reference into this Item 1.01 by
reference.

Item 8.01 Other Events.

On April19, 2017, the Administrative Agent notified the Company
that the scheduled redetermination of the Borrowing Base (as
defined in the Credit Agreement) has been completed, and the
Required Lenders (as defined in the Credit Agreement) have
reaffirmed the $350.0 million Borrowing Base effective as of
April19, 2017. Borrowings under the Credit Agreement are limited
to the lesser of the Borrowing Base and the Aggregate Elected
Commitment Amount (as defined in the Credit Agreement), which
remained unchanged at $300.0 million.

About SANCHEZ ENERGY CORPORATION (OTCMKTS:SNZYP)

Sanchez Energy Corporation is an independent exploration and production company. The Company is focused on the acquisition and development of the United States onshore unconventional oil and natural gas resources. The Company primarily focuses on the Eagle Ford Shale in South Texas. The Company also holds an undeveloped acreage position in the Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana. As of December 31, 2016, it had assembled approximately 278,000 net leasehold acres in the Eagle Ford Shale. As of December 31, 2016, it had 473 net wells in the Eagle Ford Shale area. In its Catarina area, the Company had approximately 106,000 net acres in Dimmit, LaSalle and Webb Counties, Texas, at December 31, 2016. In its Maverick area, it had approximately 100,000 net acres in Dimmit, Frio, LaSalle, Zavala and McMullen Counties, Texas, at December 31, 2016. In its Javelina area, it had approximately 39,500 net acres in LaSalle and Webb Counties, Texas, at December 31, 2016.

SANCHEZ ENERGY CORPORATION (OTCMKTS:SNZYP) Recent Trading Information

SANCHEZ ENERGY CORPORATION (OTCMKTS:SNZYP) closed its last trading session 00.00 at 27.49 with 36,750 shares trading hands.