SM Energy Update On Effects Of Hurricane Harvey

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Sep 14, 2017, 17:32 ET

DENVER, Sept. 14, 2017 /PRNewswire/ -- SM Energy Company (the "Company") (NYSE:SM) announced today updated information regarding the effects of Hurricane Harvey on the Company's operations. Most importantly, all of the Company's employees and families were safe during the disaster. The Company's Houston office remains closed due to flooding of the lower floors of the building, and employees are able to work from home. Eagle Ford daily operations are run from the Company's field office in Catarina, Texas, which was not affected by the storm.

All of the Company's producing assets are located outside the storm's path and were unharmed. While the Company had intermittent curtailments in certain production due to downstream, third-party facilities that were impacted by the storm, all of the Company's operations have returned to pre-Harvey production levels.

The total effect on production from the hurricane is estimated at 0.2 MMBoe, which effectively reduces previously provided third quarter 2017 guidance to 10.6-11.0 MMBoe. This temporary effect on production was distributed approximately 58% natural gas, 32% NGLs and 10% oil. Again, all of the Company's production, drilling and completion operations have returned to normal.

ABOUT THE COMPANY

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. SM Energy routinely posts important information about the Company on its website. For more information about SM Energy, please visit its website at www.sm-energy.com.

SM ENERGY CONTACT:

Jennifer Martin Samuels, [email protected], 303-864-2507

SOURCE SM Energy Company