SM Energy Plans 100 Operated Eagle Ford Completions in 2014

Will Spend $250 Million More in 2014 Due to Mitsui's Cost Carry Being Exhausted
SM Energy Eagle Ford Map

SM Energy Eagle Ford Map | Click to Enlarge

SM Energy plans to spend $900 million in the Eagle Ford in 2014.

Approximately $650 million is planned for the company’s operated position where 100 Eagle Ford completions are expected. An additional $250 million will be spent on acreage operated by Anadarko.

The company’s costs carry from Mitsui will be exhausted in the first half of the year. From that point, SM Energy will be responsible for its working interest share of costs.

Read more: SM Energy and Mistsui Agree to Eagle Ford Joint Venture

Five rigs and two dedicated frack crews will run on the company’s operated acreage. Operated activity in 2014 will be split between Galvan Ranch and Briscoe Ranch.

Tony Best, CEO commented, “We anticipate that our announced program will generate strong returns and will allow SM Energy to post another record year of production in 2014. ”

Read more at sm-energy.com

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R.T. Dukes

R.T. Dukes

Managing Editor at EagleFordShale.com
R.T. is the managing editor of EagleFordShale.com. In prior roles, he advised major oil companies on strategy, the macro business environment, and opportunity screening. 2503 Robinhood, Houston, TX, 77005, U.S.A. | Telephone: 832.429.4790

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