Sanchez Energy Corporation, a independent explorer and producer of oil and natural gas properties in South Texas, announced terms for its IPO on Friday. The Houston, TX-based company plans to raise $250 million by offering 10 million shares at a price range of $24 to $26. At the mid-point of the proposed range, Sanchez Energy Corporation will command a market value of $825 million. Sanchez Energy Corporation, which was founded in 2008 and booked $13 million in sales for the 12 months ended September 30, 2011, plans to list on the NYSE under the symbol SN. Johnson Rice & Co. and Macquarie Capital are the lead underwriters on the deal.
