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SM Energy Touts Record Setting Wolfcamp A Results; Increases CapEx
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SM Energy reported stellar results another quarter. Much has been said about the Delaware Basin, however, SM has consistently reported some of the best well results across the entire permian basin.
Spackler Wolfcamp A sets SM record as its top performing Midland Basin well to-date with a peak 30-day IP rate of 2,324 Boe/d. 24 new RockStar wells reached peak 30-day IP rates that averaged 1,330 Boe/d per well (87% oil) from three intervals.
Net income was $17.2 million.
CAPITAL EXPENDITURE
CapEx increase from $1.27 billion to $1.31 billion. The slight increase of $40 million will be used to bring online an addtional 3 permian net completions which will now total 103 up from the previous guidance of 100.
PRODUCTION
Full year 2018 production guidance is increased to a range of 43.5-45.0…- ✓ Full news archive — U.S., Canada & international coverage
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