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Johnson Rice Energy Conference – SM Energy Company

SM Energy Company · Oct 6, 2010 · 12 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. Johnson Rice Energy Conference – SM Energy Company – slide 1
    Johnson Rice Energy Conference RBC October 6, 2010 NewCapital Orleans, LA Markets Jay Ottoson Executive VP & COO May 25, 2010 Wade Pursell Executive VP & CFO
  2. Johnson Rice Energy Conference – SM Energy Company – slide 2
    Key Themes Executing well against our business plan Solid financial and operational results year to date Focused development programs Eagle Ford program on track for full field development Continued success in Bakken and Three…
  3. Johnson Rice Energy Conference – SM Energy Company – slide 3
    Eagle Ford Shale SM Energy has 250,000 net acres in the play between Company operated areas and APC joint venture Higher condensate yields; very rich gas SM Operated Acreage Gross operated production at end of September was 41…
  4. Johnson Rice Energy Conference – SM Energy Company – slide 4
    Value of Growing Eagle Ford Production Stream Eagle Ford driven gas growth will come from Gas mmbtu 731 price 4.19 rich gas portions of operated acreage and 3,063 therefore realize higher pricing NGL mmbtu 489 SM Energy believes…
  5. Johnson Rice Energy Conference – SM Energy Company – slide 5
    Eagle Ford Shale Recent Developments Ramping takeaway capacity to 70 to 80 MMcf/d in 4Q10 SM committed to firm transportation with Kinder Morgan and Copano for up to 200 MMcf/d; available mid- 2011 Securing rig fleet, completion…
  6. Johnson Rice Energy Conference – SM Energy Company – slide 6
    Bakken / Three Forks Gooseneck Positive results in the operated program: Sheridan Radenic 14-20H in Divide County Divide 420 BOE/d 30-day rate Radenic 14-20H (SM 85% WI) 7 day avg. 670 BOED Johnson 16-34H in McKenzie County 30…
  7. Johnson Rice Energy Conference – SM Energy Company – slide 7
    Niobrara Successful test at Atlas 1-19H Completed in 2Q10 with an 8,000 ft. Silo Field vertical depth and with a 4,000 ft. lateral 13,000 Bbls produced while drilling 7-day initial rate of 1,075 BOE/d post-completion Atlas 1-19H…
  8. Johnson Rice Energy Conference – SM Energy Company – slide 8
    Horizontal Granite Wash McEntire 2-27H (SM 68% WI) Positive results from Max 7 day avg 14.0 MMCFED Max 30 day avg 12.9 MMCFED McEntire 2-27H well 1300 BTU/SCF (Marmaton B) 7-day rate of 14 MMCFED, not including NGL volumes…
  9. Johnson Rice Energy Conference – SM Energy Company – slide 9
    2010 Guidance/2011 Forecast 2011 CAPEX projected at roughly 38 1.0 billion, up from 871 million in 2011 PROJECTED 36.5 36 VOLUME UP 20% 2010 34.5 Production (BCFE) 2011 production growth of 20% 34 34.5 should result in 20% to…
  10. Johnson Rice Energy Conference – SM Energy Company – slide 10
    Financial Position 2Q10 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 1,183 Ample liquidity 800 at our disposal 600 for…
  11. Johnson Rice Energy Conference – SM Energy Company – slide 11
    Long-term Credit Facility As of June 30, 2010 1,000.0 Borrowing base increased in September to 1.1 B, up 900.0 222.0 from 900 MM 800.0 Reflects growth in reserve 700.0 base in the face of lower 600.0 commodity prices…
  12. Johnson Rice Energy Conference – SM Energy Company – slide 12
    Key Takeaways Coring-up around key assets SM Energy is consolidating around a core group of assets that are liquids rich Non-core assets will be monetized to fund future development Activity in late 2010 and 2011 is focused on Eagle…

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