Sanchez Energy Corporation has closed the previously announced acquisition of Eagle Ford Shale assets from Hess Corporation with an effective date of March 1, 2013. Including the $13.25 million deposit previously paid, total consideration for the acquisition was $280.4 million, which includes the $265.0 million purchase price and $15.4 million in normal and customary closing adjustments. The final purchase price is subject to further customary post-closing adjustments. The transaction was funded from cash on hand from the net proceeds of the previously issued $225 million of 6.50% Cumulative Perpetual Convertible Preferred Stock, Series B and drawings under the Company's first lien credit facility.

Tony Sanchez III , President and Chief Executive Officer of Sanchez Energy, commented: "This targeted Eagle Ford Shale oil weighted acquisition adds an additional core Eagle Ford operating area with solid proved reserves, production and cash flow. Additionally, it contributes considerable upside to our already substantial asset base and growing production profile with the benefit of significantly increasing our future financial flexibility. From all respects, this acquisition further advances our core strategy as a rapidly growing, oil resource Company."

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