SM Energy revealed in mid-August that it will add $30-million to its $900-million Eagle Ford capex budget for 2014.
Company officials indicate the increase is due to higher than expected activity in SM's non-operated acreage. The company currently holds approximately ~46,000 net non-operated Eagle Ford acres.
Read more: SM Energy-Mitsui Eagle Ford Carry Ends
SM Energy Revises Production Guidance Portfolio-Wide
SM Energy increased its portfolio guidance for 2014 by approximately 3% in August, 2014. In addition to its Eagle Ford assets, the company is active in the Bakken, Powder River, and Permian.
The revised production estimates take into account the company's anticipated downtime in its operated Eagle Ford assets. During the third-quarter, SM will temporarily shut-in certain wells to conduct offset completion work. SM's operated assets in the Eagle Ford (~144,000 net acres) are located primarily in Webb County, TX, with a portion in Dimmit County, TX.
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