UPDATED CAPITAL, PRODUCTION, AND PERFORMANCE GUIDANCE
SM Energy is maintaining its previously provided capital expenditure forecast of $1.4 to $1.5 billion and full year 2012 production guidance range of 220 to 227 BCFE.
Following is the Company's performance guidance for the second quarter of 2012 and updated guidance for the full year 2012:
|Guidance for 2012|
|Production (BCFE)||50 - 54||220 - 227|
|Average daily production (MMCFE/d)||549 - 593||601 - 620|
|Oil production (as % of total)||~28%|
|Natural gas production (as % of total)||~55%|
|NGL production (as % of total)||~17%|
|LOE ($/MCFE)||$0.83 - $0.88||$0.80 - $0.85|
|Transportation ($/MCFE)||$0.67 - $0.71||$0.67 - $0.71|
Production taxes (% of pre-derivative oil, gas, andNGL revenue)
|G&A - other cash ($/MCFE)||$0.43 - $0.46||$0.39 - $0.43|
|G&A - cash NPP ($/MCFE)||$0.08 - $0.10||$0.08 - $0.10|
|G&A - non-cash ($/MCFE)||$0.11 - $0.13||$0.11 - $0.13|
|Total G&A ($/MCFE)||$0.62 - $0.69||$0.58 - $0.66|
|DD&A ($/MCFE)||$3.20 - $3.40||$3.10 - $3.30|
|Non-cash interest expense ($MM)||$1.00||$6.6|
|Effective income tax rate range||37.0% - 37.5%|
|% of income tax that is current||<5%|
EARNINGS CALL INFORMATIONThe Company has scheduled a teleconference to discuss these results and other operational matters for May 3, 2012, at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time). The call participation number is 877-445-0811 and the conference ID number is 74351823. An audio replay of the call will be available approximately two hours after the call at 855-859-2056, with the conference ID number 74351823. International participants can dial 617-401-8115 to take part in the conference call, using the conference ID number 74351823, and can access a replay of the call at 404-537-3406, using conference ID number 74351823. Replays can be accessed through May 17, 2012.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV