=Sanchez Energy (SN) reported earnings on Wed 9 Aug 2017 (b/o)

Sanchez Energy beats by $0.44, misses on revs

• Reports Q2 (Jun) GAAP earnings of $0.31 per share, $0.44 better thanthe Capital IQ GAAP Consensus of ($0.13); revenues rose 58.3% year/year to $175.7 mln vs the $178.97 mln Capital IQ Consensus.
• The Company's second quarter 2017 Adjusted EBITDA (a non-GAAP financial measure) of approximately $85.1 million was up approximately 68 percent when compared to first quarter 2017 Adjusted EBITDA of $50.6 million. Second quarter 2017 Adjusted EBITDA includes a $3 million expense related to phantom units.
• During the second quarter 2017, the Company spud 48 gross (33.9 net) wells and completed and turned on-line 63 gross (27 net) wells. Sanchez Energy brought on-line 42 wells at Comanche, 11 wells at Catarina, 6 wells at Maverick and four non-operated wells. As of June 30, 2017, the Company had drilled 68 wells, surpassing the 50 well annual drilling commitment at Catarina that ran from July 1, 2016 to June 30, 2017. With 18 wells above the drilling commitment, and a bank of wells carried over from previous year's drilling commitment, Sanchez Energy has banked the maximum allowable 30 wells as of June 30, 2017, which can be used towards the next annual drilling commitment that runs from July 1, 2017 through June 30, 2018.