Sanchez Production Partners LP (NYSEMKT:SPP) Files An 8-K Other EventsItem 8.01 Other Events.
On November 16, 2016, Sanchez Energy Corporation (“SN”) committed to purchase $25 million of common units of Sanchez Production Partners LP (the “Partnership”) in a private placement exempt from registration under the Securities Act of 1933, as amended, at a purchase price to be determined by a pricing committee of the board of directors of the general partner of the Partnership (the “Board”). The Board and the conflicts committee of the Board approved the issuance of such common units to a purchase agreement to be negotiated and finalized between the Partnership and SN.
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 down -1.80 at 13.40 with – shares trading hands.