SM Energy Company Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2015

 Published On: May, 2016 |    No of Pages: 95 |  Published By: GlobalData | Format: PDF
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Summary

SM Energy Company Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational metrics, analysis and provides a strategic insight into the company. The report provides an annual and quarterly overview of oil and gas reserves and production, changes in reserves, costs incurred and results of oil and gas operations, acreage and well details, share price performance and key valuation metrics.

Scope

The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes the following -
- The report provides detailed and unique insight information on the key operational metrics. It gives a comprehensive overview of oil and gas production and reserves, costs incurred and results of oil and gas operations, acreage and well details and other performance metrics.
- Provides details with respect to the company’s oil and gas reserves and production information by country. It further consists of in-depth information on the company’s expenditures in relation to the acquisition, exploration and development activities; developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in its annual reports and regulatory filings.
- Provides a comprehensive overview of the company’s share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe).
- Provides information on key operational and financial metrics on an annual and quarterly basis. The annual information provided is for a five-year period and the quarterly information is for the last five quarters.

*Note:

1. The scope mentioned above is generic and may not apply to all the companies. The report is based on the information disclosed by the companies in their annual and quarterly reports, regulatory filings and other company documents and sources.
2. Quarterly information is provided only for the companies that are December ending and files quarter reports and documents.
3. There can be cases where countries/regions data column/Charts will be blank. This can be due to the fact that the company might have discontinued the reporting of those countries/regions. Information that is not disclosed by the company may not be available in the report.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Be up-to-date with the latest information and in-depth analysis of the operational metrics of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational metrics of your competitors.
- Rank your performance against other companies in the exploration and production (E&P) sector using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational metrics.
- Establish relative performance among the industry’s players based on key operational and financial measures.

Table of Contents
Table of Contents 2
List of Tables 5
List of Figures 6
Company Snapshot 8
Key Information 8
Company Overview 8
SM Energy Company, Valuation and Financial Data 9
SM Energy Company, Share Price Performance 9
Share Price Performance, Q4, 2014-Q4, 2015 9
SM Energy Company, Key Valuation Metrics 10
Key Valuation Metrics, Q4, 2014-Q4, 2015 10
SM Energy Company, Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q4, 2014-Q4, 2015 11
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2014-Q4, 2015 12
SM Energy Company, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13
SM Energy Company, Quarterly Production Trends 14
SM Energy Company, Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q4, 2014-Q4, 2015 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 15
SM Energy Company, Crude Oil Production 16
Total Crude Oil Production Trend, Q4, 2014-Q4, 2015 16
Crude Oil Production, By Country/Region, Q4, 2014-Q4, 2015 17
SM Energy Company, Natural Gas Production 18
Total Natural Gas Production Trend, Q4, 2014-Q4, 2015 18
Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 19
SM Energy Company, Valuation and Financial Data, 2011-2015 20
SM Energy Company, Share Price Performance, 2011-2015 20
Share Price Performance, 2011-2015 20
Key Valuation Metrics, 2011-2015 21
SM Energy Company, Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24
Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27
Crude Oil Production and Reserves By Country/Region, 2011-2015 28
Crude Oil/Liquids Reserve Changes, 2011-2015 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2011-2015 31
Natural Gas Production and Reserves, By Country/Region, 2011-2015 32
Natural Gas Reserve Changes, 2011-2015 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36
SM Energy Company, E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2011-2015 38
Acquisition Costs By Country/Region, 2011-2015 39
Exploration and Development Costs, By Country/Region, 2011-2015 41
Oil and Gas Cost Per boe, US$/boe 43
Oil and Gas Cost Per boe, US$/boe, 2011-2015 43
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 45
SM Energy Company, Reserve Replacement Ratio 47
Oil and Gas Production Replacement Ratio 47
Oil and Gas Production Replacement Ratio, 2011-2015 47
Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 49
SM Energy Company, Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2011-2015 53
Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 54
Oil and Gas Revenue and Expenses, Per boe 59
Oil and Gas Revenue and Expenses, By boe, 2011-2015 59
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 60
Oil and Gas Performance Metrics 64
SM Energy Company, Land Holdings and Well Data 65
Developed and Undeveloped Acreage 65
Gross and Net Developed and Undeveloped Acreage, 2011-2015 65
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 66
Well Statistics 69
Producible Oil and Gas Well, 2011-2015 69
Producible Oil and Gas Well, By Country/Region, 2011-2015 70
Exploration and Development Wells Drilled, 2011-2015 74
Exploration and Development Wells Drilled, By Country/Region, 2011-2015 75
Recent Developments 76
SM Energy Company - Recent Developments 76
Apr 13, 2016: SM Energy Announces Amendment To Revolving Credit Facility, Previews First Quarter 2016 Realized Prices, And Schedules First Quarter Earnings Call 76
Feb 23, 2016: SM Energy Reports 2015 Results And 2016 Operating Plan: Maintaining Balance Sheet Strength While Increasing Activity In The Permian 76
Jan 20, 2016: SM Energy Reports 2015 Production, Realized Prices And Year-End Credit Metrics 80
Oct 27, 2015: SM Energy Reports Third Quarter Of 2015 Results - Exceeding Expectations For 2015 Through Efficiencies And Performance 81
Oct 07, 2015: SM Energy Completes Semi-Annual Redetermination Of Credit Facility 84
Jul 28, 2015: SM Energy Reports Second Quarter Of 2015 Results - Execution And Well Performance Drive Production And Cash Flow 84
May 27, 2015: SM Energy Announces The Appointment Of Senior Director Of Investor Relations 87
May 05, 2015: SM Energy Reports Results For The First Quarter of 2015; Announces Agreements To Divest Mid-Continent Assets; Increases Production Guidance On Retained Properties 87
Apr 16, 2015: SM Energy Announces First Quarter 2015 Production And Results Of Credit Facility Borrowing Base Redetermination 89
Feb 24, 2015: SM Energy Provides 2015 Guidance, Operational Update, And Reports Results For Fourth Quarter and Full-Year 2014 89
Appendix 93
Methodology 93
Coverage 93
Secondary Research 93
Primary Research 93
Data Information Sources 94
Company Source 94
SEC/Other Regulatory Filings 94
Other Sources 94
Expert Panel Validation 94
Data Definition 94
Oil and Gas Reserves 94
Units of Measure 95
About GlobalData 95
Disclosure 95
Disclaimer 95

List of Tables
Table 1: SM Energy Company, Key Facts 8
Table 2: SM Energy Company, Share Price Performance, Q4, 2014-Q4, 2015 9
Table 3: SM Energy Company, Key Valuation Metrics, Q4, 2014-Q4, 2015 10
Table 4: SM Energy Company, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11
Table 5: SM Energy Company, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2014-Q4, 2015 12
Table 6: SM Energy Company, Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13
Table 7: SM Energy Company, Total Crude Oil and Natural Gas, Production, Q4, 2014-Q4, 2015 14
Table 8: SM Energy Company, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15
Table 9: SM Energy Company, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16
Table 10: SM Energy Company, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17
Table 11: SM Energy Company, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18
Table 12: SM Energy Company, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19
Table 13: SM Energy Company, Share Price Performance, 2011-2015 20
Table 14: SM Energy Company, Key Valuation Metrics, 2011-2015 21
Table 15: SM Energy Company, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23
Table 16: SM Energy Company, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25
Table 17: SM Energy Company, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26
Table 18: SM Energy Company, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Table 19: SM Energy Company, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29
Table 20: SM Energy Company, Crude Oil Reserve Changes, mmbbl, 2011-2015 30
Table 21: SM Energy Company, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Table 22: SM Energy Company, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33
Table 23: SM Energy Company, Natural Gas Reserve Changes, bcf, 2011-2015 34
Table 24: SM Energy Company, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Table 25: SM Energy Company, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37
Table 26: SM Energy Company, Upstream Capital Expenditure, US$ mil, 2011-2015 38
Table 27: SM Energy Company, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40
Table 28: SM Energy Company, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42
Table 29: SM Energy Company, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 44
Table 30: SM Energy Company, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46
Table 31: SM Energy Company, Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Table 32: SM Energy Company, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52
Table 33: SM Energy Company, Revenue and Expenses, US$ mil, 2011-2015 53
Table 34: SM Energy Company, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58
Table 35: SM Energy Company, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Table 36: SM Energy Company, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 63
Table 37: SM Energy Company, Oil and Gas Performance Metrics, 2011-2015 64
Table 38: SM Energy Company, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Table 39: SM Energy Company, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 68
Table 40: SM Energy Company, Producible Oil and Gas Wells, 2011-2015 69
Table 41: SM Energy Company, Producible Oil and Gas Wells, By Country/Region, 2011-2015 73
Table 42: SM Energy Company, Exploratory and Developed Wells, 2011-2015 74
Table 43: SM Energy Company, Exploratory and Developed Wells, By Country/Region, 2011-2015 75

List of Figures
Figure 1: SM Energy Company, Share Price Performance, USD/Share, Q4, 2014-Q4, 2015 9
Figure 2: SM Energy Company, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2014-Q4, 2015 10
Figure 3: SM Energy Company, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11
Figure 4: SM Energy Company, Upstream Capital Expenditure, US$ mil, Q4, 2014-Q4, 2015 13
Figure 5: SM Energy Company, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2014-Q4, 2015 14
Figure 6: SM Energy Company, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15
Figure 7: SM Energy Company, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16
Figure 8: SM Energy Company, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17
Figure 9: SM Energy Company, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18
Figure 10: SM Energy Company, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19
Figure 11: SM Energy Company, Share Price Performance, USD/Share, 2011-2015 20
Figure 12: SM Energy Company, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21
Figure 13: SM Energy Company, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Figure 14: SM Energy Company, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24
Figure 15: SM Energy Company, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24
Figure 16: SM Energy Company, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26
Figure 17: SM Energy Company, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Figure 18: SM Energy Company, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28
Figure 19: SM Energy Company, Oil Production, By Country/Region, mmbbl, 2011-2015 28
Figure 20: SM Energy Company, Crude Oil Reserve Changes, mmbbl, 2015 30
Figure 21: SM Energy Company, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Figure 22: SM Energy Company, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32
Figure 23: SM Energy Company, Gas Production, By Country/Region, bcf, 2011-2015 32
Figure 24: SM Energy Company, Natural Gas Reserve Changes, bcf, 2015 34
Figure 25: SM Energy Company, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Figure 26: SM Energy Company, Gas Reserve Life Index, By Country/Region, Ratio, 2011-2015 36
Figure 27: SM Energy Company, Oil & Gas Reserve Life Index, By Country/Region, Ratio, 2011-2015 36
Figure 28: SM Energy Company, Oil Reserve Life Index, By Country/Region, Ratio, 2011-2015 37
Figure 29: SM Energy Company, Upstream Capital Expenditure, US$ mil, 2011-2015 38
Figure 30: SM Energy Company, Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 31: SM Energy Company, Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 32: SM Energy Company, Development Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 33: SM Energy Company, Exploration Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 34: SM Energy Company, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43
Figure 35: SM Energy Company, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2011-2015 45
Figure 36: SM Energy Company, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2011-2015 45
Figure 37: SM Energy Company, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2011-2015 46
Figure 38: SM Energy Company, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Figure 39: SM Energy Company, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49
Figure 40: SM Energy Company, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49
Figure 41: SM Energy Company, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50
Figure 42: SM Energy Company, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50
Figure 43: SM Energy Company, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 51
Figure 44: SM Energy Company, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 51
Figure 45: SM Energy Company, Revenue and Expenses, US$ mil, 2011-2015 53
Figure 46: SM Energy Company, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54
Figure 47: SM Energy Company, Exploration Expenses, By Country/Region, US$ mil, 2011-2015 54
Figure 48: SM Energy Company, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 49: SM Energy Company, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 50: SM Energy Company, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 56
Figure 51: SM Energy Company, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56
Figure 52: SM Energy Company, Production Costs, By Country/Region, US$ mil, 2011-2015 57
Figure 53: SM Energy Company, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57
Figure 54: SM Energy Company, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Figure 55: SM Energy Company, Exploration Expenses per boe, By Country/Region, $/boe, 2011-2015 60
Figure 56: SM Energy Company, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2011-2015 60
Figure 57: SM Energy Company, Lifting Cost per boe, By Country/Region, $/boe, 2011-2015 61
Figure 58: SM Energy Company, Annual Net Income per boe, By Country/Region, $/boe, 2011-2015 61
Figure 59: SM Energy Company, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2011-2015 62
Figure 60: SM Energy Company, Total DD&A per boe, By Country/Region, $/boe, 2011-2015 62
Figure 61: SM Energy Company, Total Revenue per boe, By Country/Region, $/boe, 2011-2015 63
Figure 62: SM Energy Company, Oil and Gas Performance Metrics, 2011-2015 64
Figure 63: SM Energy Company, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Figure 64: SM Energy Company, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 65: SM Energy Company, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 66: SM Energy Company, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 67: SM Energy Company, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 68: SM Energy Company, Producible Oil and Gas Wells, 2011-2015 69
Figure 69: SM Energy Company, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 70: SM Energy Company, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 71: SM Energy Company, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 71
Figure 72: SM Energy Company, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 71
Figure 73: SM Energy Company, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 74: SM Energy Company, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 75: SM Energy Company, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 73
Figure 76: SM Energy Company, Exploratory and Developed Wells, 2011-2015 74


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