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IPAA OGIS NEW YORK 2013 – SM Energy Company

SM Energy Company · Apr 13, 2010 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 1
    IPAA OGIS East New York April p 13,, 2010 Tony Best President and CEO
  2. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 2
    Key Messages St. Mary transformation is on track Portfolio has been refocused on resource plays (Eagle p y g Ford, Marcellus, and Haynesville) Fully staffed technical teams for each major play Significant noncore assets have been…
  3. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 3
    Focusing the Portfolio 2006 2007 2008 2010 2011 & beyond Granite Hanging Hanging Wash as Woman HIGHGRADED PORTFOLIO Noncore Basin Rockies Deploy capital in best Eagle Ford Shale Focus ROCE projects Woodford Gulf of Shale…
  4. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 4
    Current Activity 70% of operating rigs are focused on oil or rich gas Currently operating 10 rigs companywide, with 7 of those focused on liquids Oil 2 rigs in Rockies with emphasis on Bakken / Three Forks emphasis on Bakken /…
  5. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 5
    Capital Investment Budget Th 2010 The 2010 capital budget remains at 725 million it l b d t i t 725 illi Over 70% of 2010 drilling program is focused on oil or liquids Assumed 5.00/Mcf Assumed 5 00/Mcf gas for project economics;…
  6. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 6
    Eagle Ford Shale St. Mary has 250,000 net acres in the play between Company operated areas and APC joint venture d APC j i t t SM Operated Acreage 168,000 net acres , Largely 100% working interest Dimmit La Salle Two…
  7. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 7
    High Value Production Stream Assumptions Btu/SCF 1,200 mmbtu 842 Nymex Oi l (bbl ) 86.06 Natural Gas price 4.46 Nymex Ga s (mmbtu) 4.51 3,755 NGLs (ga l ) (mmbtu) Etha h ne 0.56 8.45 Propa ne 1.15 12.51 mmbtu 315 I. Buta ne 1.57…
  8. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 8
    Eagle Ford Potential The Eagle Ford has the potential to dramatically increase proved reserves for St. Mary in 2010 and beyond PUDs per producing well Planned 2010 operated drill wells 34 119 2 3 4 5 Net reserves Assumed of…
  9. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 9
    Exposure to the Eagle Ford 350 4.50 Net Acres per Ticker Net Acres basic share 4.00 Net Acres per basic share 300 SM 250,000 4.00 3.50 PXD 310,000 2.72 250 Acres (000) SFY 75,000 2.16 3.00 ROSE 61,000 1.20 200 2.50…
  10. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 10
    Bakken / Three Forks Bear Den Prospect, ND Positive recent results in the operated program: Williams Bear Den Federal 4Y30H & 4Z30H Bear Den Federal 4Y 30H & 4Z 30H (Bakken & Three Forks simulfrac) Anderson 1214H (Three…
  11. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 11
    Marcellus Shale SM Acreage St. Mary expects IPs in 35 Industry Activity MMCFED range Construction of gathering line to g g connect 1st well is complete; construction to 2nd well to be finished by midyear Four (4) horizontal…
  12. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 12
    Haynesville Shale Have received 3D seismic over Petrohawk/Noble: Mary Harris 1H Shelby and San Augustine SM: Counties and are working the data Hinton 1H D illi Drilling First SM operated horizontal in Common/SWN: Red River…
  13. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 13
    Other Activity Permian Basin Currently operating two rigs in the basin with a focus on the Wolfberry tight oil program p g Horizontal Granite Wash Completing first operated Granite Wash well in Mayfield area SM has 32,000 net…
  14. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 14
    Production Outlook 350 Pro forma 300 6% production growth of production growth of 3% 18 2% 250 11% from 4Q09 to 4Q10 MMCFE/D 200 150 Maintaining 1Q10 100 production guidance despite early closing despite early…
  15. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 15
    Production Stream Breakdown Reported Production Actual Production Stream 34% 34% 66% 50% Wet Gas Oil St. Mary reports production St M t d ti 16% on a wet gas basis No NGL volumes are presented since the Dry Gas NGL Oil…
  16. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 16
    Hedging Hedging Philosophy Solid hedge positions on PDP reserves for 2011 and 2012 provide cash flow stability Amount of hedging driven by Amount of hedging driven by Hedge Positions as a percentage of PDP balance sheet leverage…
  17. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 17
    Longterm Credit Facility As of December 31, 2009 1,000.0 Bank group redetermined 900.0 borrowing base at 900 MM in 800.0 222.0 M h 2010 ft di tit March 2010 after divestitures 700.0 Within financial covenants at 600 0 600.0…
  18. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 18
    Financial Position Q409 TOTAL BOOK CAPITALIZATION (in millions) Balance sheet 1,600 is in solid shape 1,400 No debt 1,200 maturities until Stockholders' 2012 1,000 Equity 974 Ample 800 1,057 liquidity at our 3.50% 600…
  19. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 19
    A New Name for a Different Company Company has asked stockholders to approve changing the corporate name to approve changing the corporate name to RATIONALE: St. Mary Parish properties have not been significant for some time…
  20. IPAA OGIS NEW YORK 2013 – SM Energy Company – slide 20
    Key Takeaways St. Mary transformation is on track Positioning the Company for growth and solid returns Upgraded & expanded project inventory Operations on track with 2010 plan O i k i h 2010 l Balance sheet is in solid shape to…

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