Third Quarter 2024 Financial and Operating Results October 31, 2024 NYSE: SM WEB: sm-energy.com 1
SM Energy Is A Premier Operator of Top-Tier Assets A Premier Operator Capital Efficiency Owner of Top-Tier Assets High-Quality Inventory with Long Runway A Leader Sustainability and Stewardship Denver Corporate…
Top-Tier Assets Austin Chalk Midland Basin Uinta Basin Uinta Basin 63,300 NET ACRES Midland Basin South Texas 111,000 NET ACRES 155,000 NET ACRES Note Midland Basin and South Texas are as of September 30, 2024. 4…
Excellent Operational Execution Meeting or Exceeding 2024 Core Objectives 2024 Core Objectives 3Q24 Results Uinta Acquisitions increased acreage 63,300 net acres 1 Maintain and expand portfolio quality and depth, applying advanced…
Expanded Top-Tier Portfolio Uinta Basin ...we believe SM stands out as retaining multiple resource catalysts at a time when thats largely nonexistent in E&P that can shape a more capital efficient 25 v whats appreciated.(1) (1) TD…
Expanded Top-Tier Portfolio Uinta Basin Returns Competitive with the Best ...we believe there are sufficient data points to acknowledge that the Uinta is a prolific, stacked- pay oil play.... We come away impressed by the overall rock…
Operational Excellence: Uinta Basin 3 Douglas Creek Wells Reached IP30 94% Oil New Upper Cube Wells that Reached IP30 3 Douglas Creek wells 870 Avg. Boe/d per well 94% Oil 10,316+ Avg. Laterals 8
Operational Excellence: Midland Basin Inventory Upside in Greater Sweetie Peck What are the most significant asset- and basin-level trends for North American E&Ps... (SM Energys) recent Woodford well within its Sweetie Peck region...…
Operational Excellence: Midland Basin Klondike Wells Reached IP30 Outperforming the Acquisition Model New Wells that Reached IP30 New Wells Outperform Acquisition Model 140 120 Avg. Cumulative Oil Production 100…
Operational Excellence: Austin Chalk Fully-Bounded Tests Continue to Outperform Prolific New Wells Online in 3Q SMs Briscoe C spacing pilot in the Austin Chalk is performing in line with more conservatively spaced offsets and could…
Operational Excellence Significant Oil Production Outperformance Compared to Regional Peers ... SM is ... focused on being the most technically proficient operator. SM utilizes larger fracs and wider spacing than most peers, with a…
3Q 2024 Performance Key Metrics 3Q24 Net Production and Pricing Total Net Production (MMBoe) Total Net Production (MBoe/d) Oil / Liquids percentage 15.6 170.0 46% / 63% 170.0 MBoe/d 3Q24 NET PRODUCTION Pre-Hedge Realized Price…
Empowered by a Strong Balance Sheet Low Leverage and Balance Sheet Flexibility Debt Maturities (millions) as of September 30, 2024: 2.5B As of September 30, 2024: Borrowing Base LIQUIDITY 3.0 billion 1.25B CASH BALANCE 1.7 billion…
Hedging Summary Oil Volumes Hedged Increased in Conjunction with Uinta Basin Acquisitions 2024 Hedge Program SWAPS AND COLLARS: Oil: 3,820 MBbls,(1) or 40+% of expected 4Q net oil production(2) is hedged to benchmark prices at an…
2024 Plan Guidance Guidance Update Including Uinta Basin Guidance Texas + Utah Key Metrics 4th Quarter 2024 Full Year 2024 Capital Expenditures(1) 320340 million 1.241.26 billion Total Net Production (MMBoe) 18.920.2 62.263.5…
Operational Excellence SM Energy A Leader in Stewardship 2023 Results 2024 Sustainability Reports and Data Published October 21, 2024 2024 Letter from Our CEO to Stakeholders 2024 Performance Highlights and Quick Reference…
Uinta Basin Operations SM Energy 3 Active Rigs at Sunrise 18
Appendix
3Q 2024 Realizations by Region Two Top-Tier Areas of Operation Net Production Volumes Midland Basin South Texas Total Benchmark Pricing Oil (MBbls) 5,099 2,019 7,118 Gas (MMcf) 16,067 18,472 34,540 NYMEX WTI Oil (/Bbl) 75.10 NGL (MBbls)…
Activity by Region Wells Drilled, Flowing Completions & DUC Count Wells Drilled Flowing Completions DUC Count 3Q24 2024 YTD 3Q24 2024 YTD As of September 30, 2024 Gross Net Gross Net Gross Net Gross Net Gross Net Midland Basin…
Leasehold Summary Growing Core Acreage Position with Uinta Basin Acquisitions Net Acres(1) At October 1, 2024 111,000 Midland Basin RockStar 83,500 Sweetie Peck(2) 27,100 MIDLAND BASIN NET ACRES Midland Basin total 110,600 South…
Uinta Basin: Marketing High-Value Products Realize Price Premiums Expanded Takeaway Capacity CRUDE OIL - Supports Growth Majority of crude is transported by BNSF and Union Pacific on rail to multiple destinations (Gulf Coast, Cushing…
Empowered by a Strong Balance Sheet Senior Notes Detail Principal Amount Coupon Initial Call Date Current Call Price Maturity Date Outstanding 2024 - - - - - Credit rating agency senior 2025 - - - - - unsecured debt ratings…
NGL Realizations 2024 Plan Assumes Ethane Processing All Year Austin Chalk Realizations by Quarter 3Q 2024 2Q 2024 1Q 2024 4Q 2023 3Q 2023 High Liquids Content OPIS Benchmark(1) Price (/Bbl) 26.68 27.96 29.28 26.89 27.81 SM Energy NGL…
Oil Derivative Positions(1) By Quarter NYMEX WTI NYMEX WTI Midland - Cushing MEH WTI NYMEX WTI Weighted-Average Price Oil Oil Swaps Oil Collars Oil Basis Swaps Oil Basis Swaps Roll Basis Swaps of Swaps and Collars Price Price Price…
Gas and NGL Derivative Positions(1) By Quarter NYMEX Henry Hub IF WAHA IF WAHA IF HSC NYMEX Henry Hub Weighted-Average Price Gas Gas Swaps Gas Swaps Gas Basis Swaps Gas Basis Swaps Gas Collars of Swaps and Collars Volume Volume Volume…
Third Quarter 2024 Non-GAAP Reconciliations and Disclosures
Definitions of Non-GAAP Measures and Metrics as Calculated by the Company To supplement the presentation of its financial results prepared in accordance with U.S. generally accepted accounting principles (GAAP), the Company provides…
Non-GAAP Reconciliations Trailing Twelve Adjusted EBITDAX(1) Three Months Ended Months Ended (1) Adjusted Net Income Three Months Ended (in thousands) September 30, 2024 September 30, 2024 (in thousands, except per share data)…
Non-GAAP Reconciliations, continued Adjusted Free Cash Flow(1) Three Months Ended Nine Months Ended (in thousands) September 30, 2024 September 30, 2024 Net cash provided by operating activities (GAAP) 452,263 1,204,645 Net change in…
Contact Information Jennifer Martin Samuels Lindsay Miller Vice President Investor Relations Manager Investor Relations and ESG and ESG Stewardship 303.864.2507 303.830.5860 jsamuelssm-energy.com lmillersm-energy.com
Loading...
