SM Touts Q2 Production Growth; Credits Midland Basin 'Outperformance'
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SM Energy reported select results for Q2 2018 prior to its official release.
Highlights include:- Q2 Production of 10.5 MMBoe (115 MBoe/d) - 42% oil (this is a slight +2% increase from Q1 2018 - oil percentage remains flat)
14% sequential and 117% year-over-year growth in Midland Basin production from retained assets SM credits Midland Basin 'outperformance' for higher production volumes President and Chief Executive Officer Jay Ottoson talks production: "Production for the quarter exceeded our expectations and commenced a steep upward trajectory for production growth following our recent asset divestitures. Liquids volumes were 60% of total production and operating margins were particularly strong. We expect that our high investment returns, driven by outstanding well results and…- ✓ Full news archive — U.S., Canada & international coverage
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