SM Energy Co. (NYSE: SM) expects production for 2015’s first quarter to be 16.8 million barrels of oil equivalent (MMboe), or 186.4 Mboe/d, the company said April 16. This represents 6% sequential growth in average daily production from 2014’s fourth quarter exceeding guidance, the company added.
Also, SM said the borrowing base under the senior secured revolving credit facility remains at $2.4 billion after a semiannual redetermination by lenders. The bank group’s aggregate commitment remains at $1.5 billion. There were no other changes to the credit facility’s terms.
Jay Ottoson, president and CEO, said the 2015 annual production will be reforecast after some Midcontinent assets are marketed.
SM Energy Co. explores and develops oil and natural gas across the U.S.
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