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SM Energy Reports Third Quarter 2018 Results: Great Wells, High Margins And Solid Cash Flow Growth
November 1, 2018 5:00 PM EDTDENVER, Nov. 1, 2018 /PRNewswire/ --Â SM Energy Company ("SM Energy" or the "Company") (NYSE: SM) today announced financial and operating results for the third quarter of 2018. Highlights include:
New RockStar wells demonstrate excellent performance from 3 intervals. 25 new RockStar wells had average 30-day IP rates of 1,300 Boe/d per well and averaged 88% oil. Production exceeded guidance range. 130.2 MBoe/d average production, 42% oil; Midland Basin production from retained assets was up 26% sequentially and 108% year-over-year. Big revenue growth and high margins. Production revenue was up 56%... More