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SM Ups Capex +45% for 2018; Drilling / Completion Plans
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SM Energy has reported its 2018 outlook and its Q4 2017 results.
2018 Plans- 2018 Capex: $1.27 billion (up +45% from $875 million for 2017)
D&C: $1.065 billion Facilities: $130 million Other: $70-75 millionTotal capital spend is weighted to the first half of 2018 as the rig and completion crew count in the Midland Basin is expected to be reduced from 9 and 5, respectively, in the first quarter to 7 and 3, respectively, at year-end.
- 2018 Production: 42-46 MMBoe, with oil approximately 41% of the commodity mix
- Well Program: Drill 147 net wells / Complete 125 net wells
Permian -- Expect to drill approximately 130 net wells and complete approximately 100 net wells. Eagle Ford -- Expect to drill approximately 17 net wells and complete approximately 25 net wells. The Company's…- ✓ Full news archive — U.S., Canada & international coverage
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