SM Energy Co. has raised its mid-point production guidance for the second time amid plans to spend less for the year as the U.S. shale player aims to stay within cash flow.

The Denver-based company, which has operations in the Permian Basin and South Texas, said July 18 it increased full-year production guidance at the midpoint to between 47 million and 47.8 million barrels of oil equivalent per day (MMboe/d), up about 1%. The company also lowered its planned capex for the year by 1% at the midpoint to between $1 billion and $1.05 billion, assuming it spends no more than $80 million per month through the end of the year.

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