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News Breaks
August 18, 2014
07:07 EDTSMSM Energy increases FY15 production growth target to 20%
Now Sees 3Q production, or MMBOE 13.1-13.8%. Now sees FY14 MMBOE 53.5%-54.9%. Now ses Q3 LOE $4.60-$4.85. Now sees FY14 LOE $4.60-$4.75. Now sees Q3 transportation, or$/BOE, $5.90-$6.20 and FY14 transportation $6.05-$6.20. Sees Q3 production taxes 5.0%-5.5% and FY14 production taxes 5.0%-5.5%. The Company is increasing its expected annual 2015 production growth target to approximately 20%, up from its previously announced target of 15%. Additionally, SM Energy expects approximately 15% annual production growth for 2016. The aggregate annual capital investment program for each 2015 and 2016 is expected to be similar to the revised 2014 program, excluding the impact of 2014 acquisitions and non-operated Eagle Ford carried capital.
News For SM From The Last 14 Days
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November 28, 2014
12:31 EDTSMSell-off in E&P space overdone, says Barrington
Barrington views the sell-off in the Exploration & Production space as overdone and keeps Outperform ratings on Continental Resources (CLR), Newfield Exploration (NFX), SM Energy (SM) and Whiting Petroleum (WLL). Following OPEC's decision to not cut production, the firm is assuming an average WTI crude price of $70 per barrel for 2015. It lowered its price target for Continental Resources to $62 from $85, for Newfield to $43 for $47, for SM Energy to $69 from $102 and for Whiting Petroleum to $81 from $122. Barrington believes the stocks already reflected much of the OPEC news.

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