SM Energy Company Oil & Gas Exploration and Production Operations and Cost Analysis – Q4, 2011 by GlobalData

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									         SM Energy Company Oil & Gas Exploration and Production Operations
                          and Cost Analysis – Q4, 2011
        Reference Code: GDGE36278OAR                                                                                   Publication Date: APR 2012

        Company Snapshot                                                               Company Overview
        Key Information                                                                SM Energy Company (SM Energy) is an independent energy
                                                                                       company. It is engaged in the exploration, exploitation,
         SM Energy Company, Key Facts                                                  acquisition, development and production of oil and natural
          Web Address                           www.sm-energy.com                      gas.
          Financial year-end                    December
          Number of Employees                   639
          NYSE                                  SM
          Source: GlobalData

         Key Ratios
           SM Energy Company, Key Ratios                                                  SM Energy Company, Reserves and Production, 2007-
           P/E                                                             21.85          2011
           EV/EBITDA                                                        6.30
           Return on Equity (%)                                            14.70
           Debt/Equity                                                     67.30
           Operating       profit   margin                                  24.0
           (%)
           Dividend Yield                                                    0.0
           Note: Above ratios are based on share price as of 11-Apr-2012
                                                                                          Source: GlobalData
           Source: GlobalData



           SM Energy Company, Share Price Performance,                                   SM Energy Company, Key Valuation Metrics,
           USD/Share, Q4, 2010-Q4, 2011                                                  EV/Production ($/boed), EV/Proved Reserve ($/boe),
                                                                                         Q4, 2010-Q4, 2011




           Source: GlobalData
                                                                                         Source: GlobalData



          SM Energy Company, Key Costs Per boe, $/boe, 2011                              SM Energy Company, Costs Incurred By Type, $m,
          Parameter                                                         2011         2007-2011
          Oil & Gas Finding &                                               17.55
          Development Cost/boe, Annual
          Oil & Gas Finding Cost per boe,                                    2.65
          Annual
          Reserve Replacement Cost per                                      17.33
          boe, Annual
         Source: GlobalData



                                                                                         Source: GlobalData




SM Energy Company Operations & Cost Analysis                                                                              Reference Code: GDGE36278OAR
For Data Definitions Refer to the Appendix
Source: www.energyetrack.com                                                                                                                        Page 1
© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form
       Table of Contents
       Table of Contents ............................................................................................................................................................................... 2
          List of Tables .................................................................................................................................................................................. 4
          List of Figures ................................................................................................................................................................................. 5
       SM Energy Company, Valuation and Financial Data.......................................................................................................................... 8
          SM Energy Company, Share Price Performance............................................................................................................................ 8
             Share Price Performance, Q4, 2010-Q4, 2011 ........................................................................................................................... 8
          SM Energy Company, Key Valuation Metrics ................................................................................................................................. 9
             Key Valuation Metrics, Q4, 2010-Q4, 2011 ................................................................................................................................. 9
          SM Energy Company, Quarterly Results of Oil & Gas Operations Per boe Produced.................................................................. 10
             Results of Oil & Gas Operations Per boe Produced, Q4, 2010-Q4, 2011 ................................................................................. 10
             Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2010-Q4, 2011........................................................................... 11
          SM Energy Company, Quarterly E&P Costs Trends ..................................................................................................................... 12
             Upstream Capital Expenditure, Q4, 2010-Q4, 2011 .................................................................................................................. 12
       SM Energy Company, Quarterly Production Trends ........................................................................................................................ 13
          SM Energy Company, Total Oil and Gas Production .................................................................................................................... 13
             Total Crude Oil and Natural Gas Production Trend, Q4, 2010-Q4, 2011 .................................................................................. 13
             Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 ................................................................ 14
          SM Energy Company, Crude Oil Production................................................................................................................................. 15
             Total Crude Oil Production Trend, Q4, 2010-Q4, 2011 ............................................................................................................. 15
             Crude Oil Production, By Country/Region, Q4, 2010-Q4, 2011 ................................................................................................ 16
          SM Energy Company, Natural Gas Production............................................................................................................................. 17
             Total Natural Gas Production Trend, Q4, 2010-Q4, 2011 ......................................................................................................... 17
             Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 ............................................................................................ 18
       SM Energy Company, Valuation and Financial Data, 2007-2011..................................................................................................... 19
          SM Energy Company, Share Price Performance, 2007-2011....................................................................................................... 19
             Share Price Performance, 2007-2011 ....................................................................................................................................... 19
             Key Valuation Metrics, 2007-2011 ............................................................................................................................................ 20
       SM Energy Company, Production and Reserves Trends ................................................................................................................. 21
          Total Oil and Gas, Reserves and Production ................................................................................................................................ 21
             Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011......................................................................... 21
             Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011........................................................ 23
             Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 .............................................................................................. 25
          Crude Oil/Liquids Production and Reserve ................................................................................................................................... 26
             Crude Oil/Liquids Production and Reserve Trend, 2007-2011 .................................................................................................. 26
             Crude Oil Production and Reserves By Country/Region, 2007-2011 ........................................................................................ 27
             Crude Oil/Liquids Reserve Changes, 2007-2011 ...................................................................................................................... 29
          Natural Gas Production and Reserve ........................................................................................................................................... 30
             Natural Gas Production and Reserve Trend, 2007-2011 .......................................................................................................... 30
             Natural Gas Production and Reserves, By Country/Region, 2007-2011 ................................................................................... 31
             Natural Gas Reserve Changes, 2007-2011 .............................................................................................................................. 33
          Total Crude Oil and Natural Gas Reserves Life Index .................................................................................................................. 34
             Total Crude Oil and Natural Gas Reserves Life Index, 2007-2011 ........................................................................................... 34
             Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2007-2011 ........................................................... 35
       SM Energy Company, E&P Costs Trends ........................................................................................................................................ 37
          Allocation of the Upstream Capital Expenditure............................................................................................................................ 37
             Upstream Capital Expenditure, 2007-2011 ............................................................................................................................... 37

SM Energy Company Operations & Cost Analysis                                                                                                                          Reference Code: GDGE36278OAR
For Data Definitions Refer to the Appendix
Source: www.energyetrack.com                                                                                                                                                                                    Page 2
© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form
             Acquisition Costs By Country/Region, 2007-2011..................................................................................................................... 38
             Exploration and Development Costs, By Country/Region, 2007-2011 ...................................................................................... 40
          Oil and Gas Cost Per boe, $/boe .................................................................................................................................................. 42
             Oil and Gas Cost Per boe, $/boe, 2007-2011 ........................................................................................................................... 42
             Oil and Gas Cost Per boe, $/boe, By Country/Region, 2007-2011 ........................................................................................... 44
       SM Energy Company, Reserve Replacement Ratio ......................................................................................................................... 47
          Oil and Gas Production Replacement Ratio ................................................................................................................................. 47
             Oil and Gas Production Replacement Ratio, 2007-2011 ........................................................................................................... 47
             Oil and Gas Production Replacement Ratio, By Country/Region, 2007-2011 ........................................................................... 49
       SM Energy Company, Results of Oil & Gas Operations Trend ........................................................................................................ 53
          Oil and Gas Revenue and Expenses ............................................................................................................................................ 53
             Oil and Gas Revenue and Expenses, 2007-2011 ..................................................................................................................... 53
             Oil and Gas Revenue and Expenses, By Country/Region, 2007-2011 ..................................................................................... 55
          Oil and Gas Revenue and Expenses, Per boe ............................................................................................................................. 60
             Oil and Gas Revenue and Expenses, By boe, 2007-2011 ........................................................................................................ 60
             Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2007-2011 ........................................................................ 61
          Oil and Gas Performance Metrics ................................................................................................................................................. 65
       SM Energy Company, Land Holdings and Well Data .....................................................................................................
								
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