HOUSTON, Aug. 8 (UPI) -- Already producing more than last year, U.S. shale player Sanchez Energy said it was increasing its spending plans with big payoffs expected in 2018.
Sanchez said its revenue of $111 million was up 39 percent from the first quarter in part because the price of oil rebounded from below $30 per barrel. Total and average production, primarily from its shale holdings in Texas, was up by an average 5 percent.