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SM Production Up 11% YOY in Q2; Slightly Increases Production Guidance

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SM Production Up 11% YOY in Q2; Slightly Increases Production Guidance

SM Energy reported its Q2 results where it primarily focused on its production results and new completion technologies.

Highlights include:

Q2 production was 11.3 mmboe, which was up 7% sequentially and 11% compared to Q2 2016 Capex in Q2 was $237.3 million and in 1WH was $430.2 million During the quarter, the company drilled or participated in 30 net wells and completed or participated in 25 net wells Company revised its production guidance to 44.5 to 46.5 mmboe, an increase of about 0.8 mmboe at the mid-point

Permian

During Q2, production from SM's Midland asset was 2.3 mmboe (75% oil). In the Midland, there are 7 operate rigs (2 in Sweetie Peck and 5 in RockStar) running and 3 completions crews that drilled 23 net wells and completed 9 net wells during Q2. The company expects to…

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