Sanchez Energy Corporation, an independent explorer and producer of oil and natural gas properties in South Texas, filed on Thursday with the SEC to raise up to $150 million in an IPO. Sanchez Energy Corporation, which is a spinoff of parent company Sanchez Energy Partners, seeks to gain funding for the development and expansion of the company's 39,000-acre operation in Texas' Eagle Ford Shale. The company booked $11 million in sales for the 12 months ended June 30, 2011 and plans to list on the New York Stock Exchange under the symbol SEN. Johnson Rice & Co. and Macquarie Capital will be the lead underwriters on the deal. No pricing terms were disclosed.
The first day of September has been a Texas oil rush with regards to initial filings as the only companies to register with the SEC thus far have been two Houston-based oil and natural gas companies (Forum Energy Technologies, FET).
