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SM Energy raises oil production guidance by 6%

Published 06/25/2018, 09:47 AM
© Reuters.  SM Energy raises oil production guidance by 6%
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  • On improved efficiencies and well performance in the Midland Basin, SM Energy (SM -0.2%) raises Q2 oil production guidance to 10.1-10.4 MMBoe (111-114 MBoe/d), up from 9.7-10.1 MMBoe (106-111 MBoe/d).
  • Capex guidance expected between $400M-440M, however FY18 guidance remains unchanged at ~1.27B.
  • Jay Ottoson states "We market our Midland Basin production through firm sales agreements that cover current and projected oil production over the next year. We also have substantial price protection for our Midland Basin oil production in the form of WTI Cushing-to-Midland basis swaps.
  • Now read: SM Energy Company 2018 Q1 - Results - Earnings Call Slides


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