SM Energy Company today announced financial and operating results for the first quarter of 2019. Highlights include: Excellent well performance and capital efficiency - demonstrated by the successful Merlin Maximus development in RockStar. 19 wells across three intervals reached 30-day peak IP rates in excess of 1,400 Boe/d per well and 87% oil, where the average cost at this 25-well development to drill, complete and [...]
SM Energy Company today announced certain operating and financial results for the first quarter of 2019, including production, realized pricing and total capital spend. Highlights include: 10.7 MMBoe total production came in at the mid-point of guidance. Permian production was up 34% year-over-year. 45% oil in the commodity mix; 63% liquids. Costs incurred in oil and gas activities of $322 million and total capital spend [...]
SM Energy Company today announces that its presentation time at the IPAA Oil & Gas Symposium was changed to Tuesday, April 9, 2019 at 10:05 a.m. Eastern time. The presentation will be webcast, accessible from the Company's website, and available for replay for a limited time. The Company will post an investor presentation before the market opens on April 9. ABOUT THE COMPANY SM Energy Company is an independent energy [...]
SM Energy Company today announces that its Board of Directors has approved a semi-annual cash dividend of $0.05 per share of common stock outstanding. The dividend will be paid on May 8, 2019, to stockholders of record as of the close of business on April 26, 2019. The Company currently has approximately 112.2 million shares of common stock outstanding. ABOUT THE COMPANY SM Energy Company is an independent energy company [...]
SM Energy Company today provides certain operational updates for the first quarter of 2019 and announces participation in an upcoming investor event. OPERATIONAL UPDATES The 25-well Merlin Maximus development located in the heart of the RockStar area is off to a successful start. All 25 wells were drilled and completed as planned and on budget. 24 of the 25 wells are on production as scheduled. While it is very early [...]
Realizing Value Creation from Top Tier Execution SM Energy Company today announces year-end 2018 financial and operating results, year-end 2018 proved reserves, new RockStar well results and its 2019 operating plan. Highlights include: Sizable reserves growth - Proved reserves of 503 MMBoe at year-end 2018 were up 18% year-over-year from retained assets and include reserve additions net of revisions of 119 MMBoe. Capital [...]
SM Energy Company today announces 2018 production, pricing and certain financial metrics. Highlights include: Total production for full year 2018 was 44 MMBoe and includes production growth of 97% from core Permian Basin assets. Costs incurred for full year 2018 were $1.4 billion. Total capital spend for full year 2018 was $1.3 billion, demonstrating the Company's commitment to capital discipline. MANAGEMENT COMMENTARY [...]
SM Energy Company today announced financial and operating results for the third quarter of 2018. Highlights include: New RockStar wells demonstrate excellent performance from 3 intervals. 25 new RockStar wells had average 30-day IP rates of 1,300 Boe/d per well and averaged 88% oil. Production exceeded guidance range. 130.2 MBoe/d average production, 42% oil; Midland Basin production from retained assets was up 26 [...]
SM Energy Company today announced certain operating results for the third quarter of 2018, including production, realized pricing and total capital spend. Highlights include: 12.0 MMBoe total production exceeded the high end of guidance due to better than expected well performance in the Midland Basin and higher processed NGL volumes in the Eagle Ford 42% oil in the commodity mix; 62% liquids 26% sequential and 108 [...]
SM Energy Company today announces that Carla J. Bailo has been appointed to serve as a director of the Company. Ms. Bailo will serve as an independent director and as a member of the Audit Committee of the Board of Directors. Bill Sullivan, Chairman of the Board, comments, "We are pleased to have an individual of Carla's reputation and experience joining SM Energy. Her diverse technical and executive leadership [...]
SM Energy Company today announces that its Board of Directors has approved a semi-annual cash dividend of $0.05 per share of common stock outstanding. The dividend will be paid on November 7, 2018, to stockholders of record as of the close of business on October 26, 2018. The Company currently has approximately 112.1 million shares of common stock outstanding. ABOUT THE COMPANY SM Energy Company is an independent energy [...]
SM Energy Company announced today early results for its previously announced tender offer to purchase any and all of its 6.500% Senior Notes due 2023 , and up to an aggregate principal amount not to exceed $85,000,000 , of its 6.125% Senior Notes due 2022 , subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated August 6, 2018 , and related solicitation of consents [...]