SM Energy (SM) Tops Q1 EPS by 17c
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SM Energy Reports First Quarter Of 2017 Results - Higher Production, Lower Capital Versus Plan, Production Guidance Raised
May 2, 2017 5:30 PM EDTDENVER, May 2, 2017 /PRNewswire/ --
Production of 12.1 MMBoe, well ahead of guidance 55% sequential growth in Midland Basin Full year production guidance increased by 1.5 MMBoe to 41.5-44.5 MMBoe Costs incurred $282 MM (includes acquisitions); total capital spend $193 MM, 4% less than projected (see GAAP reconciliation below) Full year total capital spend (excluding acquisitions) guidance of $875 MM unchanged Balance sheet strengthened further with closing of non-op Eagle Ford divestiture Net debt reduced by 22% EPS of $0.67; Adjusted EPS (loss) ($0.18), ahead of expectations (see... More