January 27, 2016 - 7:45 AM EST
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Sanchez Energy Corp. (NYSE: SN) Analyst Coverage Initiated; Company Outlook

HOUSTON, TX / ACCESSWIRE / January 27, 2016 / Sanchez Energy Corp. (NYSE: SN) an oil and natural gas company focused on acquiring, developing and maximizing cash flow from a portfolio of oil and natural gas assets, recently announced that it has amended the terms under its $1.5 billion first lien revolving credit facility, effective immediately. The amendment allows for the incurrence of second lien debt not to exceed $400 million plus any principal representing payment of interest in kind. The borrowing base is reduced from $500 million to $425 million while the elected commitment remains at $300 million. The Company has no balance drawn on this facility and therefore believes that it has significant headroom under its 2.25x senior secured leverage covenant. The Company reported internally estimated proved reserves at December 31, 2015 are expected to range from 120-130 million barrels of oil equivalent, an approximately seven percent decrease from the proved reserves at December 31, 2014 of 134.8 MMBOE.

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Source: ACCESSWIRE Investor Awareness (January 27, 2016 - 7:45 AM EST)

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