SM Energy provides FY18 production results

|About: SM Energy Company (SM)|By:, SA News Editor

SM Energy (NYSE:SM) reports that in FY18 it almost doubled Permian Basin production, and reduced the principal outstanding on long-term debt by $325M.

However, temporary effects of weather-related events, along with dip in oil and NGL commodity prices, impacted production and realizations in Q4

FY18 production was 43.9 MMBoe (120.3 MBoe/d) including production growth of 97% from core Permian Basin assets; capital spend stood was $1.3B.

For Q4 net production was 11.3 MMBoe (123 MBoe/d) and 45% oil.

Aggregate Realized prices per Boe was 34.74 and 31.74, pre and post hedge, respectively.

Debt balance stood at $2.48B in senior notes plus $172.5M in senior convertible notes; undrawn credit facility plus cash on hand provided $1.1B in liquidity.

Costs incurred for FY18 were $1.4B

The Company plans to release its full earnings release on February 20, 2019

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