November 1, 2024

SM Energy Reports Strong Q3 2024 Results

view original post

SM Energy Company ( (SM) ) has released its Q3 earnings. Here is a breakdown of the information SM Energy Company presented to its investors.

SM Energy Company is an independent energy firm focused on the acquisition, exploration, development, and production of oil, gas, and natural gas liquids, primarily operating in Texas and Utah. In its recent earnings report for the third quarter of 2024, SM Energy highlighted its strong operational performance, which resulted in increased oil production and lower capital expenditures. The company exceeded its production guidance with net production reaching 15.6 million barrels of oil equivalent, driven by better-than-expected results in both the Midland Basin and South Texas.

The company’s financial performance was robust, with net income reported at $240.5 million, or $2.09 per diluted share, and adjusted net income at $1.62 per share. SM Energy generated $452.3 million from operating activities, while adjusted EBITDAX stood at $481.5 million. The quarter also saw an adjusted free cash flow of $129.8 million, marking a 32% increase from the previous quarter. Furthermore, the acquisition of assets in the Uinta Basin added significant oil production potential to their portfolio.

Strategically, SM Energy’s acquisition of assets in Utah is expected to bolster its scale and financial metrics. The company also completed eight wells in the Klondike area of the Midland Basin and continued to outperform peer averages in the Woodford-Barnett area of South Texas. The expansion into the Uinta Basin is anticipated to be accretive and provide a quality drilling inventory for the future.

Looking forward, SM Energy is optimistic about its operations in Utah and aims to further enhance production volumes in the fourth quarter. The company plans to grow its oil and total production volumes significantly and is focused on integrating its new assets from the Uinta Basin acquisitions. The strategic expansion is expected to optimize capital efficiency and demonstrate the value of the expanded portfolio in the coming years.

thebullishtraders.com is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of thebullishtraders.com are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.

The sender of this email makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.

The content on any of thebullishtraders.com websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options.

The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.

Disclaimer: Past performance is no guarantee of future performance. This product is for educational purposes only. Practical application of the products herein are at your own risk and thebullishtraders.com, its partners, representatives and employees assume no responsibility or liability for any use or mis-use of the product. Please contact your financial advisor for specific financial advice tailored to your personal circumstances. Any trades shown are hypothetical example and do not represent actual trades. Actual results may differ. Nothing here in constitutes a recommendation respecting the particular security illustrated.