Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Program-Rig Count | Capital Expenditure - 2019
SM Increasing Eagle Ford Rigs 100% in 2019; Midland Activity to Decrease
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SM Energy detailed its 2019 capital plan.
*The plan assumes $55/barrel WTI and $3/MMBtu Henry Hub
Eagle Ford Rigs, Spending Up; Midland Drilling DownThe company's capital plan is down -22% from 2018 (full details below), however SM is increasing its Eagle Ford spending for the year.
According to the Shale Experts Rigs Database, they increased the Eagle Ford rig count to three in Q1, up from one in 4Q18 (see chart below). Meanwhile, the company plans to increase its rig fleet in the Midland Basin from five rigs to six in March.
The company is also increasing drilling activity in the Eagle Ford while simultaneously cutting completions YOY.
SM's Midland asset will see a reduction in drilling (despite rig increase) while completions stay flat.
SM Rigs 2019 Plan- 2019 Capex: $1.0-1.07…
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