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December 19, 2012
18:44 EDTSMSM Energy to direct 90% of drilling dollars to Eagle Ford, Bakken, Permian areas
SM Energy plans to operate five drilling rigs, supported by two dedicated frac spreads, on its operated Eagle Ford shale acreage in 2013. life. The company expects to complete approximately 75 flowing completions during the year, with an additional 40 wells waiting on completion at year-end. SM Energy forecasts its non-operated Eagle Ford shale net production to increase by roughly 5% per quarter throughout 2013. Bakken/Three Forks activity next year will be focused on SM Energy's Bear Den, Raven, and Gooseneck prospects. SM Energy will operate approximately 80% of the capital allocated for the program and plans for approximately 40 flowing completions in the operated portion of this program in 2013. The company will enter 2013 with four operated drilling rigs, however, efficiencies associated with pad drilling will allow completion of this program averaging 3 1/2 rigs for the year. SM Energy plans to operate two drilling rigs in its operated Permian Mississippian program in 2013, with approximately 12 flowing completions planned for the year. One operated drilling rig is scheduled to work on Bone Spring projects in southeastern New Mexico, with six flowing completions planned for 2013. SM Energy will operate substantially all of its capital investments in the Permian Basin in 2013.
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