SM Energy Completes 95 Eagle Ford Wells in 2013 – 74,800 boe/d in Fourth Quarter

SM Energy Oil Production Rate Down Slightly for the Fourth-Quarter in the Eagle Ford
SM Energy Eagle Ford Production

SM Energy Eagle Ford Production | Click to Enlarge

SM Energy made 95 flowing completions in its operated Eagle Ford Shale acreage in 2013, with 20 of those completions in the fourth-quarter. 

In non-operated Eagle Ford acreage, the operator completed 84 gross wells in the fourth-quarter. 

The company had production of 74,800 boe/d in the Eagle Ford in the fourth-quarter. Although production was at its highest during this time, there was less oil production.

CEO Javan Ottoson said, “Liquids growth in 2013 resulted in a 50:50 liquids-gas split for both the third and fourth quarters of 2013. Although our actual oil rate was down slightly quarter-over-quarter due to the fact most of the Eagle Ford completions during the fourth-quarter were in southern lower oil yield areas than in the third quarter.”

SM Energy 2013 Drilling and Proved Reserves in Eagle Ford

At the end of the year, SM Energy had 246 net wells producing in the Eagle Ford and 239 mmboe of total proved reserves at the end of 2013. During 2013, the company’s operated well costs decreased by approximately 14% from 2012 in both the Briscoe and Galvan Ranch portions of its acreage position.

During the quarter in non-operated Eagle Ford acreage, the operator added one drilling rig to the program, ending the quarter with 10 rigs. In the fourth-quarter, the operator commissioned additional compression, which added throughput capacity to its program.

SM Energy 2014 Eagle Ford Plans

In 2014, SM Energy plans to make approximately 100 flowing completions on its’ operated acreage, with 60% of the activity in Galvan Ranch and the rest of the activity in Briscoe Ranch. Various completion design tests throughout the company’s Eagle Ford acreage have been planned to maximize economics.

SM Energy Fourth-Quarter Company-Wide Daily Production in 2013

Oil production company-wide was up 31% in the fourth-quarter of 2013 to 40,800 b/d from 31,300. Natural gas production was up 24% to 429.3 mmcf/d from 347.1 mmcf/d. NGL production was up 51% to 31,500 b/d from 20,800 b/d. Oil Equivalent production was up 31% to 143,800 b/d from 109,900 b/d.

SM Energy Eagle Ford Highlights – 2013

  • 95 flowing completions in operated Eagle Ford shale program for the year
  • 84 gross wells c0mpleted in the fourth-quarter of 2013 in non-operated Eagle Ford acreage
  • 74,800 boe/d in the Eagle Ford in the fourth-quarter
  • 246 net wells producing at the end of 2013
  • 239 mmboe of total proved reserves
  • Q4 Eagle Ford completions were in southern lower oil yield area, yielding less total liquids production for the company

SM Energy Company-Wide Production Highlights

  • 2013 Q4 company wide oil production up 31% – 40,800 b/d
  • 2013 Q4 company wide natural gas production up 24% – 429.3 mmcf/d
  • 2013 Q4 company wide ngl production up 51% to 31,500 b/d
  • 2013 Q4 company wide oil equivalent production up 31% to 143,800 b/d

Read more at sm-energy.com

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Kirk Eggleston

Kirk Eggleston

Contributor at EagleFordShale.com
Kirk Eggleston writes on significant news developments in the Eagle Ford and Bakken Shale plays. He is a former broadcast journalist, and has experience covering news and politics in the Texas and Louisiana markets.

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