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  • Data analysis SM Energy Plans $1.9 Billion Capital Program for 2014

    SM Energy, in its 2014 guidance, unveiled a capital program of $1.9 billion focused on Eagle Ford, Bakken/Three Forks and Permian.The budget comprises of $1.66 billion for drilling and completion, and $265 million for non-drilling expenditure and new ventures activity. The company expects 2014 production to...

    SM Energy Plans $1.9 Billion Capital Program for 2014Data analysis
    Projects & Capex, Others

    SM Energy, in its 2014 guidance, unveiled a capital program of $1.9 billion focused on Eagle Ford, Bakken/Three Forks and Permian.

    The budget comprises of $1.66 billion for drilling and completion, and $265 million for non-drilling expenditure and new ventures activity. The company expects 2014 production to be 51-53.5 MMBOE (53% liquids), up 20% compared to 2013 guidance.

    Drilling and completion budget highlights

    • Eagle Ford: Allocated $900 million, up 38% compared to 2013 guidance; 100 flowing completions targeted; an additional 40 wells waiting on completion at end-2014
    • Bakken/Three Forks: Allocated $350 million, up 21% compared to 2013 guidance; 80% of budget to be spent on operated assets with a target of 45 flowing completions
    • Permian: Allocated $155 million, down 9% compared to 2013 guidance; 2.5 drilling rigs to be operated, targeting 14 flowing completions
    • Powder River Basin: Allocated $140 million; two drilling rigs to be operated, targeting eight flowing completions
    • East Texas: Allocated $55 million to drill and complete 6 test wells

    View SM Energy press release

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