Jay Ottoson, President and Chief Executive Officer of SM Energy (NYSE: SM), presented today at EnerCom’s The Oil & Gas Conference 20®.
SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in onshore North America.
In the second quarter of 2015, SM produced 16.5 million barrels of equivalent, up 23% from the prior year period and realized $337 million in adjusted EBITDAX, driven by well performance and lower costs. The company is currently conducting pad tests in both the Bakken and Eagle Ford and are “encouraged” by their early results.
During the company’s breakout session, management was asked the following questions:
- What’s your strategy for growing your inventory?
- What do you think of moving further into East Texas? Are you going to seek any chances here?
- How do you target your operations in Eagle Ford with the Pilot Test Progress?
- Can you talk more about the Bakken and the east Eagle Ford area? How are you guys dealing with water management issues?
- Just curious about Eagle Ford, can you further illustrate the new technologies applied here?
- How many of your Eagle Ford wells have you already tested?
- Do pressure regimes give you a signal on your development plans?
- Can you illustrate the framework of cash flow, CAPEX and EBITDA for the year 2016?
- Do you have any cost-saving achievements?
- What are the cost of chemicals for your longer laterals?
