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SM Energy Talks 2020; D&C Activity Down Over 20% from 2019
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SM Energy Co. has reported its 2020 capital plans. It also detailed its Q4 2019 results (available below the 2020 discussion).
2020 PlanSpending and activity for SM will be down across the board in 2020 compared to 2019.
Spending is down nearly 20% YOY and production will be relatively flat (with a 6% increase in oil output).
Drilling and completions will be down 25% and 20%, respectively, with the Eagle Ford seeing the largest decline (compared to SM's Midland asset).
2020 Assumptions:
Price deck: $50.00 Bbl WTI; $2.20 MMBtu natural gas; $20.00 Bbl NGLs. Hedging: currently approximately 80% of oil production at an average swap price of $58 Bbl WTI and collars at $55-63/Bbl WTI; and, approximately 35% of natural gas production. NGL hedges are by individual component of the barrel…- ✓ Full news archive — U.S., Canada & international coverage
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