Aug. 18 (UPI) -- The sale of assets in the Eagle Ford shale increases liquidity and the value of shareholders, the head of Sanchez Energy said.
The company said it took $103 million in cash for its Javelina prospect in the Eagle Ford shale basin in Texas. CEO Tony Sanchez III said the sale, to an undisclosed buyer, will close in the third quarter and drive an effort to stimulate his company's value.