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SM Energy has detailed 2018 production, pricing and certain financial metrics.
Highlights include:
- Total production for full year 2018 was 44 MMBoe (120.3 MBoe/d) (FLAT YOY)
- However, SM's Permian production grew 97% from 11 MMBOE to ~21 MMBOE
- Production landed at the midpoint of the company's guidance due to several issues: "Production was affected by significant storms and third-party gas plant force majeure events that were originally estimated to reduce fourth quarter production by approximately 0.6 MMBoe. As a result of an additional gas plant force majeure event in December, the actual impact of weather and third-party events is estimated to be 0.6-0.7 MMBoe for the quarter, approximately 50% oil."
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PRODUCTION |
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Fourth Quarter 2018 |
Full Year 2018 |
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Oil (MMBbls) |
5.1 |
18.8 |
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Natural gas (Bcf) |
25.5 |
103.2 |
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NGLs (MMBbls) |
2.0 |
7.9 |
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Total MMBoe |
11.3 |
43.9 |
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Total (MBoe/d) |
122.8 |
120.3 |
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REGIONAL PRODUCTION |
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Fourth Quarter 2018 |
Full Year 2018 |
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Eagle Ford (MMBoe) |
5.4 |
21.8 |
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Permian Basin (MMBoe) |
5.9 |
20.9 |
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Rocky Mountain (MMBoe) |
0.0 |
1.1 |
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Total MMBoe |
11.3 |
43.9 |
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