Wednesday, January 21, 2015

SM Energy, 3Q14 Earnings and Operational Update

This is old information; this is 3Q14; we should be getting 4Q14 data soon. 

See disclaimer

SM Energy: 3Q14 Earnings Call and Operational Update

Slide 3: SM Energy added to its acreage positions in the Bakken/Three Forks and Powder River Basin programs.

Slide 4 is interesting: cash return on average capital employed
  • of 17 companies listed, SM Energy is listed first, at 23%
  • then comes the other peer group members: CLR, COG, CXO, DNR, EGN, NFX, OAS, PXD, QEP, ROSE, RRC, UPL, WLL, WPX, XCO, and XEC, ranging from 19% to 6%
Slide 12: Bakken/Three Forks
  • added approx 12,500 net acres in Gooseneck, October, 2014
  • Gooseneck is in central Divide County, north to south county lines
  • total Williston Basin net acreage: 238,000 net acres

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