SM Energy Co
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
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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, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Net production volumes | |||
| Oil (MMBbl) | 29.4 | 23.8 | 24.0 |
| Gas (Bcf) | 137.0 | 132.4 | 125.9 |
| NGLs (MMBbl) | 10.2 | 9.7 | 8.0 |
| Equivalent (MMBOE) (1) | 62.4 | 55.5 | 53.0 |
| Midland Basin net production volumes (2) | |||
| Oil (MMBbl) | 19.1 | 17.5 | 19.1 |
| Gas (Bcf) | 62.0 | 59.8 | 63.5 |
| NGLs (MMBbl) | — | — | — |
| Equivalent (MMBOE) (1) | 29.4 | 27.5 | 29.7 |
| Maverick Basin net production volumes (2) | |||
| Oil (MMBbl) | 7.4 | 6.2 | 4.8 |
| Gas (Bcf) | 72.2 | 72.5 | 62.4 |
| NGLs (MMBbl) | 10.2 | 9.6 | 8.0 |
| Equivalent (MMBOE) (1) | 29.6 | 27.9 | 23.2 |
| Uinta Basin net production volumes (3) | |||
| Oil (MMBbl) | 2.9 | — | — |
| Gas (Bcf) | 2.7 | — | — |
| NGLs (MMBbl) | — | — | — |
| Equivalent (MMBOE) (1) | 3.3 | — | — |
| Realized price | |||
| Oil (per Bbl) | $74.49 | $76.28 | $94.67 |
| Gas (per Mcf) | $1.82 | $2.48 | $6.28 |
| NGLs (per Bbl) | $23.01 | $23.02 | $35.66 |
| Per BOE | $42.81 | $42.60 | $63.18 |
| Production expense per BOE | |||
| Lease operating expense | $5.11 | $5.13 | $5.03 |
| Transportation costs | $2.68 | $2.46 | $2.83 |
| Production taxes | $1.86 | $1.89 | $3.07 |
| Ad valorem tax expense | $0.56 | $0.67 | $0.79 |
(2)For each of the years ended December 31, 2024, 2023, and 2022, 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.
(3)For the year ended December 31, 2024, total estimated net proved reserves attributed to our Uinta Basin field represented 15 percent of our total estimated net proved reserves expressed on an equivalent basis.
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