Sanchez Production Partners LP (NYSEMKT:SPP) Files An 8-K Entry into a Material Definitive Agreement

Item1.01

On April6, 2017, Sanchez Production Partners LP (the Partnership)
entered into an At Market Issuance Sales Agreement (the
Agreement) with FBR Capital Markets Co. (FBR). to the terms of
the Agreement, the Partnership may sell from time to time through
FBR, as the Partnerships sales agent or principal, common units
representing limited partner interests in the Partnership (the
Units) under the Partnerships Registration Statement on Form S-3
(SEC File No.333-202575). Sales of Units, if any, will be made by
any method permitted that is deemed an at the market offering as
defined in Rule 415 under the Securities Act of 1933, including
sales made directly on or through the NYSE MKT, the existing
trading market for our common units sales made to or through a
market maker other than on an exchange or otherwise, in
negotiated transactions at market prices, and/or any other method
permitted by law.

The summary of the Agreement in this report does not purport to
be complete and is qualified by reference to such Agreement,
which is filed as Exhibit1.1 hereto. In addition, in connection
with the execution of the Agreement, legal opinions of the
Partnerships counsel are attached hereto as Exhibits 5.1 and 8.1.

This report does not constitute an offer to sell or the
solicitation of an offer to buy, and these securities cannot be
sold in any state or jurisdiction in which this offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any state or
jurisdiction. Any offer will be made only by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement.

On April6, 2017, the Partnership and MLV Co. LLC mutually agreed
to terminate that certain At Market Issuance Sales Agreement,
dated as of April17, 2015 (the Old Agreement). Under the Old
Agreement, the Partnership sold 6,723 common units, representing
gross proceeds of approximately $91,000 to the Partnership prior
to termination.

A copy of the Old Agreement was filed as Exhibit 1.1 to the
Partnerships Current Report on Form 8-K filed with the Securities
and Exchange Commission on April17, 2015 (the Prior 8-K). The
description of the Old Agreement contained herein does not
purport to be complete and is qualified by reference to such Old
Agreement filed as Exhibit 1.1 to the Prior 8-K.

About Sanchez Production Partners LP (NYSEMKT:SPP)

Sanchez Production Partners LP, formerly Sanchez Production Partners LLC, is focused on the acquisition, development, ownership and operation of midstream and other energy producing assets. The Company operates through two segments: the exploration and production of oil and natural gas, and the midstream business, which includes the Catarina gathering system. The Exploration and Production segment explores for and produces crude oil and natural gas. The Midstream segment operates the gathering, processing and transportation of crude oil, natural gas liquids (NGLs) and natural gas. The exploration and production business includes oil and natural gas reserves located in the Eagle Ford Shale in South Texas and in other areas of Texas and Louisiana, as well as properties in the Mid-Continent region. The Company’s total estimated proved reserves total over 11.6 million barrels of oil equivalent (MMBoe). It owns approximately 1,992 net producing wells.

Sanchez Production Partners LP (NYSEMKT:SPP) Recent Trading Information

Sanchez Production Partners LP (NYSEMKT:SPP) closed its last trading session up +0.15 at 15.50 with 60,808 shares trading hands.