SM Energy Increases Eagle Ford Reserves Estimate – Downspacing

Production Grows ~10% Quarter Over Quarter In The Eagle Ford
SM Energy Operated Eagle Ford Acreage Map

SM Energy Operated Acreage | Click to Enlarge

SM Energy has increased its estimate of net recoverable resources in the Eagle Ford by 500 bcfe to 5.8 Tcfe. SM still only has 2 years of drilling booked as proved reserves. The company attributes the increase in reserves to better EURs (4.5 Bcfe per well) and expectations for tighter well spacing in portions of the play. Briscoe Ranch will be developed on 52-acre spacing compared to guidance of 72-acres per well previously. [Read more…]