Sanchez Production Partners LP (AMEX:SPP) signed a definitive agreement to acquire certain production assets, located in South Texas from Sanchez Energy Corporation (NYSE:SN) for $27 million on October 6, 2016. The target assets includes working interests in 23 producing Eagle Ford wellbores located in Dimmit and Zavala counties in South Texas together with escalating working interests in an additional 11 producing wellbores located in the Palmetto Field in Gonzales County, Texas. In a related transaction, Sanchez Production Partners signed a definitive agreement to acquire 50% stake in Carnero Processing, LLC. The completion of the transaction is subject to satisfaction of customary closing conditions, including Sanchez Production Partner’s arrangement of financing to pay the purchase price under each transaction agreement. As on October 6, 2016 the special committee of Board of directors of Sanchez Energy and Sanchez Production Partners approved the deal. The transaction is expected to close in the fourth quarter 2016. The transaction may be terminated if not completed by March 31, 2017. Stifel, Nicolaus & Company, Incorporated acted as financial advisor, Potter Anderson & Corroon LLP and Scott Olson of Andrews Kurth, LLP acted as legal advisors to Sanchez Production Partners LP in the transaction. Peter Bowden, Brian Conner, Diggs Gully and Seth Kidd of Jefferies LLC acted as financial advisors, David Elder, Patrick Hurley, Shubi Arora, Gabe Procaccinni and David Bartz of Akin Gump Strauss Hauer & Feld LLP and Mark Gentile and Jacob Hasler of Richards, Layton & Finger, P.A. LLP acted as legal advisors to Sanchez Energy. Sanchez Production Partners LP (AMEX:SPP) completed the acquisition of certain production assets, located in South Texas from Sanchez Energy Corporation (NYSE:SN) for $25.6 million on November 22, 2016.