Despite reporting a half billion loss in the second quarter, U.S. shale player Sanchez Energy said its total production was up 164 percent year-on-year. Chief Executive Officer Tony Sanchez said in a statement Monday his company plans to cut capital spending by $50 million for the year, but still increase its production target by 4 percent, or about 2,000 barrels of oil equivalent per day. “The 2016 capital budget is expected to maintain production consistent with 2015 levels and will likely lead to some moderate year-over-year growth,” he said. Low crude oil prices leave energy companies with less money to spend on exploration and production. Some of those companies are boasting of production gains by crediting improved efficiencies in well operations. Sanchez […]