Case Background

On August 11, 2019, Sanchez Energy Corporation (OTC Pink: SNEC) ("Sanchez Energy" or the "Company") and ten (10) affiliated debtors (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the "Court").  The cases are pending before the Honorable Marvin Isgur, and are jointly administered under Case No. 19-34508.

Sanchez Energy Corporation announced that the Company and certain of its subsidiaries have voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company’s decision to make this voluntary filing follows an extensive review of strategic alternatives to align its capital structure with the continued low commodity price environment, and Sanchez Energy intends to use this process to substantially reduce its indebtedness and provide the financial flexibility to position the Company for future success. The Company has significant liquidity, comprised of cash on hand and $175 million in new committed financing, to operate in the normal course and intends to interact with its commercial counterparties as usual. Non-recourse subsidiary SN EF UnSub, LP and certain other unrestricted subsidiaries of the Company are not included in these Chapter 11 proceedings.

As part of the Chapter 11 filing, the Company has filed a number of customary motions with the Court to authorize the Company to pay certain pre-petition obligations. Among other things, these motions seek authorization for Sanchez Energy to continue to operate in the normal course of business without interruption to its relationships with its royalty interest owners, working interest and joint billing partners, among others.

Stakeholders can call the Company’s Information Hotline toll-free at 844.232.0067 (or 917.942.6393 for international calls) or sending an email to sanchezinfo@primeclerk.com.

The following stakeholder FAQs can be found in the below links:

• Vendor FAQs
• Royalty Owner FAQs
• Investor FAQs

Important Information & Dates

A hearing on the Debtors' First Day Motions was held on August 13, 2019 at 9:00 a.m. (CT) before the Honorable Marvin Isgur, United States Bankruptcy Court for the Southern District of Texas, 515 Rusk Street, Courtroom 404, Houston, Texas, 77002.  A final hearing on certain of the First Day Motions will be held on September 19, 2019 at 2:00 p.m. (CT).  Please click below to view and download the Debtors' First Day Motions and First Day Orders:

First Day Motions

First Day Orders

Dates

August
11

Petition Date

_____
October
16

Final Hearing on First D...

1:30 p.m. (CT)
August
11
_____
August
13
9:00 a.m. (CT)
September
19
2:30 p.m. (CT)

Final Hearing on First Day Motions

October
10
2:30 p.m. (CT)

Parties

Debtors' Counsel

Jackson Walker L.L.P.

1401 McKinney Street, Suite 1900
Houston, TX   77010
https://www.jw.com/
Phone: 713.752.4284
Fax: 713.308.4184
Matthew D. Cavenaugh

Akin Gump Strauss Hauer & Feld LLP

2300 N. Field Street, Suite 1800
Dallas, TX   75201
https://www.akingump.com/en/
Phone: 214.969.2800
Fax: 214.969.4343
Marty L. Brimmage, Jr.
Lacy M. Lawrence

Akin Gump Strauss Hauer & Feld LLP

One Bryant Park
New York, NY   10036
https://www.akingump.com/en/
Phone: 212.872.1000
Fax: 212.872.1002
Ira S. Dizengoff
Jason P. Rubin
Naomi Moss

Akin Gump Strauss Hauer & Feld LLP

2001 K Street, N.W.
Washington, D.C.   20006
https://www.akingump.com/en/
Phone: 202.887.4000
Fax: 202.887.4288
James Savin

United States Trustee and Court Information

Office of the United States Trustee

515 Rusk Street
Suite 3516
Houston, TX   77002
https://www.justice.gov/ust-regions-r07/region-7-southern-district-texas-houston-division
Phone: 713.718.4650
Fax: 713.718.4670



United States Bankruptcy Court, Southern District of Texas

United States Courthouse
515 Rusk Avenue
Houston, TX   77002
http://www.txs.uscourts.gov/offices/houston-division
Phone: 713.250.5500



Debtors

Case Number
Debtor Name
Petition Date
19-34508 Sanchez Energy Corporation August 11, 2019
19-34509 SN Palmetto, LLC August 11, 2019
19-34510 SN Marquis LLC August 11, 2019
19-34511 SN Cotulla Assets, LLC August 11, 2019
19-34512 SN Operating, LLC August 11, 2019
19-34513 SN TMS, LLC August 11, 2019
19-34514 SN Catarina, LLC August 11, 2019
19-34515 Rockin L Ranch Company, LLC August 11, 2019
19-34516 SN EF Maverick, LLC August 11, 2019
19-34517 SN Payables, LLC August 11, 2019
19-34518 SN UR Holdings, LLC August 11, 2019