Sanchez Energy Corp. (NYSE: SN) detailed its 2014 capex plan and summarized its capex guidance Jan. 15. The capex plan allocates nearly all monies to drilling and completing about 70 net wells in the Eagle Ford, the company said. The capex has $650 to $700 million. The remaining monies will go to facilities, leasing and seismic after drilling and completions, the company added.

This year’s capex plan is funded by internal cash flow and some credit facility borrowing, Sanchez said.

Sanchez Energy’s estimated production rate for the year ranges between 21,000 and 23,000 barrels of oil equivalent per day (BOE/d). This will be more than a 100% increase from 2013’s average production rate, the company said.

Continued work in the Eagle Ford with assets yielding 75% oil, 11% liquid natural gas (NGL) and 14% natural gas will drive this year-over-year (Y/Y) increase, the company added.

Half of the year’s expected oil production is hedged at an average swap and/or floor price of $94 per barrel, the company said. Roughly half of the year’s gas production is hedged at an average swap and/or floor price of $4.15 per million British thermal units (MMBtu), the company said.

"All of our core Eagle Ford positions are performing at or above our expectations and are in full scale development mode. We made tremendous strides last year strategically and operationally. Our focus in 2014 is to sustain the momentum generated from our successful transformation into a manufacturing focused resource exploiter. That means strict attention to reducing costs, improving efficiencies and meeting our targets. We plan to focus more of our capital spending on our operated assets in 2014 where we can directly control the pace and timing of our activities,” said Tony Sanchez III, president and CEO.

At 2013’s end, the company had 46,464,879 outstanding common shares, Sanchez Energy said.

Sanchez Energy Corp. is an independent unconventional oil resources E&P company. It is based in Houston and operates in the Tuscaloosa Marine and Eagle Ford shales.