General News
SM's Q3 Production 'Exceeds High End of Guidance'; Credits Stronger Midland Wells
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SM Energy reported preliminary production results for the third quarter of 2018.
Highlights include:
- 12.0 MMBoe (130.2 MBoe/d) total production exceeded the high end of guidance due to better than expected well performance in the Midland Basin and higher processed NGL volumes in the Eagle Ford
- 42% oil in the commodity mix; 62% liquids
- 26% sequential and 108% year-over-year growth in Midland Basin production from retained assets
- Permian volumes up 26% sequentially (from retained assets); Eagle Ford volumes up 12% sequentially.
- NGL volumes up 27% sequentially as the Company elected to process ethane in the Eagle Ford, per contractual elections, due to increased pricing.
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