Oil & Gas - Energy - Commodities - Resources (OILBRENT)

[benfrankledger]

$SNEC Sanchez Energy announced that it was deferring the July 15 interest payment on its 6.125% senior notes due 2023 as it continues discussions with various stakeholders about a restructuring plan. While Sanchez has plenty of cash on hand ($201 million at the end of Q1 2019), the continued deterioration of prices for NGLs has resulted in Sanchez likely having some cash burn in 2019 now even with its well below maintenance capex budget.