Mitsui Eagle Ford Carry of SM Energy Will End in Q2 2014

SM Energy First Quarter 2014 Production Up in Operated and Non-Operated Acreage 17% and 2% Consecutively
SM Energy Eagle Ford Acreage

SM Energy Eagle Ford Acreage | Click to Enlarge

SM Energy saw net production increases in both its’ operated and non-operated acreage of 17% and 2% consecutively. In the second quarter of this year, SM Energy expects the drilling and completion carry provided under its acquisition and development agreement with Mitsui to be exhausted. SM Energy made this announcement in December 2013, when the company released it’s 2014 capital budget.

In 2011, SM Energy entered a joint venture with Mitsui, whereby 39,000 net acres were sold to Mitsui for total commitments of $680 million (>$17,000 per acre).

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