Top Tier Performer SM Energy offers: Top quartile debt-adjusted per share growth Strong balance sheet and ample liquidity Decades of economic inventory, with significant inventory growth potential without acquisitions or…
2Q15 Highlights Key Messages: PERFORMANCE Improving well performance leads to increased production RESULTS DELIVER UPSIDE Encouraging test results from down-spacing and optimized completions support significant inventory and…
Outstanding Quarter PRODUCTION UP 23% YOY Execution is Key 200 180 160 16.5 MMBoe production 140 120 100 Guidance upped 1 MMBoe 80 60 3.26/Boe LOE 40 20 0 Guidance lowered 0.70 Boe 2Q14 3Q14 4Q14 1Q15 2Q15 819 MM CAPEX…
2015 Capital Program 1.28 B TOTAL CAPITAL BUDGET: UPDATED CAPITAL HIGHLIGHTS: 2015 program focused in Eagle Ford and Bakken/Three Forks Other Plan includes 132 gross/119 net 210 operated wells and participation in 43 net…
Top Tier Financial Position Aligning capital with cash flow Current Debt:TTM adjusted EBITDAX maintained at 1.7 times Ample liquidity with 0.1B drawn on 1.5 B commitment amount Financial Position and 2.4 B borrowing base No maturities…
Hedging Provides Cash Flow Stability 44% of guided midpoint 2H15 production volumes hedged 25% of 2016 production volumes hedged assuming 2015 annual production held flat into 2016 7 Hedged Volumes as of July 22, 2015 6 5…
Operations Update Key Themes Sizable growth potential from existing assets test results to date very encouraging Eagle Ford inventory upside Potential to double Eagle Ford inventory through optimizing spacing and landing zones in…
Eagle Ford Pilot Test Progress Testing underway to deliver substantial upside from existing assets Pilot Tests: 1) East Area Well Spacing 2) East Area Infill LEF W 3) South Area LEF/UEF W 4) North Area Stacked-Staggered 5) North…
East Area 14 Well Spacing Test Testing 450 spacing Pilot test area 11
Pilot Test 1: Early production data by well spacing Production results to date for 450 spaced wells are in-line with 625 spaced wells 80 Cum Gross Wet Gas Production, MMcf East area type curve 70 625' well spacing per 1000'…
Geological Sweet Spot in Divide County Unique positioning among peers PhiH of Middle Bakken and Upper Three Forks Well results largely driven by: 4.5 Hydrocarbon charge thermal maturity Reservoir quality PhiH (porosity &…
Divide County Bakken Performing Better Than Three Forks Proving up Bakken interval has the potential to double Divide County inventory Bakken wells drill faster, making them cheaper than Three Forks wells The Company plans to drill…
Economics Improving with Plug-and-Perf Completions Plug-and-perf completions have been employed in both Divide County and Raven/Bear Den programs Plug-and-perf results show uplift in IRR Divide County TFS results Divide TFS IRR…
Well Positioned for 2016 Continuing top quartile debt-adjusted performance Intensive focus on good execution, improving well performance, and driving down costs Focused on aligning cash flow with capital Inventory tests are…
Appendix 17
2nd Quarter 2015 Performance 2Q15 Production Reported Average daily production (MBOE/d) 181.0 Total production (MMBOE) 16.5 Costs LOE (/BOE) 3.26 Ad Valorem (/BOE) 0.25 Transportation (/BOE) 5.64 Production taxes (% of…
2015 Guidance FY 2015 Production (MMBOE) 61.5 64.0 Average daily production (MBOE/d) 168 175 LOE (/BOE) 3.60 4.00 Ad Valorem (/BOE) 0.50 0.55 Transportation (/BOE) 6.25 6.55 Production taxes (% of pre-derivative oil and gas…
2Q15 Regional Realizations NYMEX WTI OIL (Bbl) 57.85 Hart Composite NGL (Bbl) 20.79 NYMEX Henry Hub Gas (MMBTU) 2.73 Production Volumes STGC Rockies Mid-Con Permian SM Total Oil (MBbls) 2,056 2,503 15 513 5,087 Gas (MMcf) 36,681…
Adjusted Net Income Reconciliation Reconciliation of net income (loss) (GAAP) to adjusted net income (Non-GAAP): For the Three Months Ended June 30, (in thousands, except per share data) 2015 Reported Net loss (GAAP) (57,508)…
Adjusted EBITDAX (1) Adjusted EBITDAX Reconciliation (in thousands) For the Three Reconciliation of net loss (GAAP) to Adjusted EBITDAX (non-GAAP) to net cash Months Ended provided by operating activities (GAAP): June 30, 2015 Net…
Loading...
