Sanchez Energy sells 21,000 acres of Eagle Ford land

Houston-based Sanchez Energy Corp. (NYSE: SN) is selling off its acreage in one end of the Eagle Ford to help the company focus on the other end of the South Texas shale play.

Sanchez will sell 21,000 net acres of oil leases on the eastern end of the Eagle Ford in Fayette and Lavaca counties to Fort Worth-based Lonestar Resources US Inc. (Nasdaq: LONE).

Under the $50 million deal, Sanchez Energy will receive Lonestar preferred stock structured to be converted into 1.5 million shares of common stock.

Although…

Sanchez Energy sells 21,000 acres of Eagle Ford land syndicated post

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