SM Energy (NYSE: SM) reported Q1 EPS of ($0.34), $0.12 worse than the analyst estimate of ($0.22). Revenue for the quarter came in at $340.93 million versus the consensus estimate of $344.48 million.

President and Chief Executive Officer Jay Ottoson comments: "We are solidly on track to meet our objective of growing production while keeping total capital spend within discretionary cash flow starting in the second half of 2019. Our Midland Basin Merlin Maximus development is performing even better than we expected, and we are encouraged by early results from testing new intervals and enhancing completions across our acreage positions in both the Permian Basin and in South Texas. We made good progress in the first quarter on all of our priorities for the year."

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