SM Energy (SM) Tops Q2 EPS by 24c
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SM Energy Reports Second Quarter of 2016 Results
August 2, 2016 5:00 PM EDT- Exceeding Expectations Across the Board
- Raising Production Guidance, Lowering Capital Guidance
Production of 14.3 MMBoe exceeded plan by approximately 1 MMBoe reflecting outperformance from new wells in the Eagle Ford and Permian; oil production of 4.1 MMBoe at mid-point of guidance GAAP Net cash provided by operating activities $138.6 MM; Adjusted EBITDAX $217.1 MM GAAP Costs incurred $177.3 MM; total capital spend $167.6 MM Capital spend and operating cost guidance lowered, production guidance raised Operating costs below plan across the board including... More