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			8-K Notional Units
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:18pt;">UNITED STATES </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">Washington, D.C. 20549 </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:18pt;">FORM 8-K </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:13.5pt;">CURRENT REPORT </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">Pursuant to Section&nbsp;13 or 15(d) of the </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">Securities Exchange Act of 1934 </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">Date of Report</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;"> &nbsp;(</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">Date of earliest event reported</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">)</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">: &nbsp;</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">December</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">18</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">, 2014</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">&nbsp;</font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:24pt;">Sanchez Production</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:24pt;"> Partners LLC </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">(Exact name of registrant as specified in its charter) </font>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">Delaware</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">001-33147</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">11-3742489</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">(State or other jurisdiction</font></p>
					<p style="margin:0pt 0pt 0.75pt;text-align:center;font-family:Calibri;text-justify:inter-ideograph;font-size: 7pt">
						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">of incorporation)</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">(Commission</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">File Number)</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">(IRS Employer</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">Identification No.)</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">1801 Main Street, Suite 1300</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">Houston, TX</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">77002</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">(Address of principal executive offices)</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">(Zip Code)</font></p>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">Registrant&#x2019;s telephone number, including area code: (832)&nbsp;308-3700 </font>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:12pt;">Not applicable</font>
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		<p style="margin:0pt;text-align:center;font-family:Calibri;text-justify:inter-ideograph;font-size: 7pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:7.5pt;">(Former name or former address, if changed since last report.) </font>
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			<font style="display: inline;font-family:Times New Roman;font-size:4.5pt;">&nbsp;</font>
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		<p style="margin:4.5pt 0pt 0pt;text-indent:24.5pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font>
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			<font style="display: inline;font-family:Times New Roman;font-size:4.5pt;">&nbsp;</font>
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						<font style="display: inline;font-size:10pt;">&#x25FB;</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
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						<font style="display: inline;font-family:Times New Roman;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
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						<font style="display: inline;font-family:Times New Roman;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></p>
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						<font style="display: inline;font-size:10pt;">&#x25FB;</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></p>
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			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;;font-size: 10pt"><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 6pt 43.2pt;text-indent: -43.2pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">Item&nbsp;</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">5</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">.02</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;">On December </font><font style="display: inline;font-size:10pt;">18</font><font style="display: inline;font-size:10pt;">, 2014, the Compensation Committee awarded notional units under the Company&#x2019;s 2009 Omnibus Incentive Compensation Plan to each of the executive officers of Sanchez Production Partners LLC (the &#x201C;Company&#x201D;) in the amounts set forth in the table below.&nbsp;&nbsp;The notional units will convert on a one-for-one basis into restricted common units of Sanchez Production Partners LP upon unitholder approval of a proposed Sanchez Production Partners LP Long-Term Incentive Plan and the conversion of the Company from a limited liability company into a limited partnership becoming effective.&nbsp;&nbsp;The notional units or restricted units, as applicable, will vest in one-third increments on each December 15, 2015, 2016 and 2017.&nbsp;&nbsp;If the new plan is not approved, or the foregoing two conditions are not otherwise satisfied by the applicable vesting date, then the notional units then vesting will be settled in cash at the fair market value of the Company&#x2019;s common units as of such date.&nbsp;&nbsp;Each notional unit carries the right to receive distribution credits when any distributions are made by the Company on its common units, which will be settled in cash when the notional units are converted or settled, as applicable.&nbsp;&nbsp;The foregoing description of the notional unit award agreement is not complete and is qualified in its entirety by the complete agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;"></font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:90.9pt;">
			<tr>
				<td valign="bottom" style="width:189.00pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:normal;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display: inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:106.85pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:189.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:center;punctuation-wrap:hanging;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-style:italic;font-size:10pt;text-decoration:underline;">Executive Officer</font></p>
				</td>
				<td valign="bottom" style="width:106.85pt;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:center;punctuation-wrap:hanging;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-style:italic;font-size:10pt;text-decoration:underline;">Notional Units</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:189.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Stephen R. Brunner</font></p>
					<p style="margin:0pt 0pt 0pt 9pt;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-style:italic;font-size:10pt;">Chief Executive Officer &amp; President</font></p>
					<p style="margin:0pt 0pt 0pt 9pt;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:106.85pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;punctuation-wrap:hanging;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">769,231</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:189.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Charles C. Ward</font></p>
					<p style="margin:0pt 0pt 0pt 9pt;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-style:italic;font-size:10pt;"> Chief Financial Officer &amp; Treasurer </font></p>
				</td>
				<td valign="top" style="width:106.85pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;punctuation-wrap:hanging;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">256,410</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">Item 9.01&nbsp;&nbsp;Financial Statements and Exhibits.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">(d) Exhibits.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;text-decoration:underline;">Exhibit No.</font><font style="display: inline;font-size:10pt;text-decoration:underline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;text-decoration:underline;">Exhibit</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-indent: -72pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">10.1</font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 60pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;">Form of Award Agreement Relating to Notional Units with DERs - Executives</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;punctuation-wrap:hanging;text-align:left;font-family:Times New Roman;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0.6pt;text-indent:36pt;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;font-size: 12pt">
			<font style="display: inline;font-family:Times New Roman;font-size:12pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:29.10pt;padding:0pt;">
					<p style="margin:0pt;line-height:normal;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;font-size: 12pt">
						<font style="display: inline;font-family:Times New Roman;font-size:12pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:27.15pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:411.75pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 12pt">
			<font style="display: inline;font-family:Times New Roman;font-size:12pt;">&nbsp;</font>
		</p><hr style="border-bottom-style:solid;width:100%;height:2.25pt; ;color:#999" align="center"></hr>
		<p style="margin:0pt;text-align:center;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">SIGNATURES </font>
		</p>
		<p style="margin:9pt 0pt 0pt;text-indent:24.5pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
			<font style="display: inline;font-family:Times New Roman;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </font>
		</p>
		<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 9pt">
			<font style="display: inline;font-family:Times New Roman;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:46.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:normal;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display: inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:04.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:02.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:45.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;text-align:justify;text-justify:inter-ideograph;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:46.00%;padding:0pt;">
					<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 12pt">
						<font style="display: inline;font-family:Times New Roman;font-size:12pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.00%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:04.00%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.00%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:02.00%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.00%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:45.00%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:214.40pt;padding:0pt;">
					<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 12pt">
						<font style="display: inline;font-family:Times New Roman;font-size:12pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:03.85pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:17.85pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:03.85pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 11pt">
						&nbsp;</p>
				</td>
				<td colspan="3" valign="top" style="width:228.05pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">SANCHEZ PRODUCTION</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;"> PARTNERS LLC</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:214.40pt;height:12.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:normal;text-align:left;font-family:Calibri;text-justify:inter-ideograph;overflow: hidden;font-size:0pt;">
						<font style="display: inline;font-family:Times New Roman;font-size:12pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="middle" style="width:21.70pt;height:12.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="middle" style="width:18.30pt;height:12.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="middle" style="width:213.60pt;height:12.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:214.40pt;padding:0pt;">
					<p style="margin:5pt 0pt 5pt 12pt;text-indent: -12pt;text-align:left;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-family:Times New Roman;font-size:10pt;">Date: </font><font style="display: inline;font-family:Times New Roman;font-size:10pt;">December 23</font><font style="display: inline;font-family:Times New Roman;font-size:10pt;">, 2014</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-size:12pt;">/s/ Charles C. Ward</font></p>
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						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">Charles C. Ward</font></p>
					<p style="margin:0pt 0pt 0.75pt;text-align:center;font-family:Calibri;text-justify:inter-ideograph;font-size: 10pt">
						<font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;">Chief Financial Officer</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:10pt;"> and Treasurer</font></p>
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{"company-data": {"conformed-name": "Sanchez Production Partners LLC", "cik": "0001362705", "assigned-sic": "1311", "irs-number": "113742489", "state-of-incorporation": "DE", "fiscal-year-end": "1214"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33147", "film-number": "141307093"}, "business-address": {"street1": "1801 MAIN STREET", "street2": "SUITE 1300", "city": "HOUSTON", "state": "TX", "zip": "77002", "phone": "832-308-3700"}, "mail-address": {"street1": "1801 MAIN STREET", "street2": "SUITE 1300", "city": "HOUSTON", "state": "TX", "zip": "77002"}, "former-company": [{"former-conformed-name": "Constellation Energy Partners LLC", "date-changed": "20060808"}, {"former-conformed-name": "Constellation Energy Resources LLC", "date-changed": "20060515"}]}
8-K Notional Units
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report
(
Date of earliest event reported
)
:
December
18
, 2014
Sanchez Production
Partners LLC
(Exact name of registrant as specified in its charter)
Delaware
001-33147
11-3742489
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
1801 Main Street, Suite 1300
Houston, TX
77002
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (832) 308-3700
Not applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
◻
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
◻
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
◻
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
◻
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
5
.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December
18
, 2014, the Compensation Committee awarded notional units under the Company's 2009 Omnibus Incentive Compensation Plan to each of the executive officers of Sanchez Production Partners LLC (the "Company") in the amounts set forth in the table below.  The notional units will convert on a one-for-one basis into restricted common units of Sanchez Production Partners LP upon unitholder approval of a proposed Sanchez Production Partners LP Long-Term Incentive Plan and the conversion of the Company from a limited liability company into a limited partnership becoming effective.  The notional units or restricted units, as applicable, will vest in one-third increments on each December 15, 2015, 2016 and 2017.  If the new plan is not approved, or the foregoing two conditions are not otherwise satisfied by the applicable vesting date, then the notional units then vesting will be settled in cash at the fair market value of the Company's common units as of such date.  Each notional unit carries the right to receive distribution credits when any distributions are made by the Company on its common units, which will be settled in cash when the notional units are converted or settled, as applicable.  The foregoing description of the notional unit award agreement is not complete and is qualified in its entirety by the complete agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Executive Officer
Notional Units
Stephen R. Brunner
Chief Executive Officer & President
769,231
Charles C. Ward
Chief Financial Officer & Treasurer
256,410
Item 9.01  Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Exhibit
10.1
Form of Award Agreement Relating to Notional Units with DERs - Executives
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SANCHEZ PRODUCTION
PARTNERS LLC
Date:
December 23
, 2014
By:
/s/ Charles C. Ward
Charles C. Ward
Chief Financial Officer
and Treasurer