Regular readers might remember that just a few days ago Whiting blew past analysts' expectation.
Data points from the SM Energy press release:
- record quarterly average daily production of 138.8 MBOE per day at top end of guidance range of 132 - 139 MBOE per day
- quarterly production mix of 50% liquids/50% natural gas
- quarterly GAAP net income of $70.7 million, or $1.04 per diluted share
- adjusted quarterly net income of $105.4 million, or $1.54 per diluted share
- record quarterly EBITDAX of $410.4 million
- net cash provided by operating activities of $404.5 million exceeds capital expenditures of $387.4 million
- successful Wolfcamp B well (30-day peak initial production 1,226 BOE per day)
- company adds acreage in Midland Basin with potential in multiple benches of the Wolfcamp interval
Independent energy company SM Energy reported third-quarter results today after the market closed, showing that it posted total operating revenues of $613.1 million, a robust 62% gain from the $379.0 million in the same period the previous year, and ahead of the $596.8 million Capital IQ consensus estimate.
With adjusted net income coming in at $105.4 million, or $1.54 per share, well ahead of the $9.7 million, or $0.14 per share in the same period in 2012, it easily outpaced by $0.46 the CapIQ estimates of $1.08 per share.SM is trading at a new high, almost 5% higher today.