SM Energy Co
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
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Production
The following table summarizes our net production volumes and realized prices for oil, gas, and NGLs produced and sold during the periods presented, and related production expense on a per BOE basis:
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net production volumes | |||
| Oil (MMBbl) | 23.8 | 24.0 | 27.9 |
| Gas (Bcf) | 132.4 | 125.9 | 108.4 |
| NGLs (MMBbl) | 9.7 | 8.0 | 5.4 |
| Equivalent (MMBOE) (1) | 55.5 | 53.0 | 51.4 |
| Midland Basin net production volumes (2) | |||
| Oil (MMBbl) | 17.5 | 19.1 | 25.2 |
| Gas (Bcf) | 59.8 | 63.5 | 55.4 |
| NGLs (MMBbl) | — | — | — |
| Equivalent (MMBOE) (1) | 27.5 | 29.7 | 34.4 |
| Maverick Basin net production volumes (2) | |||
| Oil (MMBbl) | 6.2 | 4.8 | 2.7 |
| Gas (Bcf) | 72.5 | 62.4 | 52.8 |
| NGLs (MMBbl) | 9.6 | 8.0 | 5.4 |
| Equivalent (MMBOE) (1) | 27.9 | 23.2 | 16.9 |
| Realized price | |||
| Oil (per Bbl) | $76.28 | $94.67 | $67.72 |
| Gas (per Mcf) | $2.48 | $6.28 | $4.85 |
| NGLs (per Bbl) | $23.02 | $35.66 | $33.67 |
| Per BOE | $42.60 | $63.18 | $50.58 |
| Production expense per BOE | |||
| Lease operating expense | $5.13 | $5.03 | $4.39 |
| Transportation costs | $2.46 | $2.83 | $2.71 |
| Production taxes | $1.89 | $3.07 | $2.36 |
| Ad valorem tax expense | $0.67 | $0.79 | $0.38 |
(2)For each of the years ended December 31, 2023, 2022, and 2021, total estimated net proved reserves attributed to our Midland Basin field and our Maverick Basin field each exceeded 15 percent of our total estimated net proved reserves expressed on an equivalent basis.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.