SM Energy Provides 2015 Guidance, Operational Update, and Reports Results for Fourth Quarter and Full-Year 2014
2015 capital budget of $1.2 billion, a 43% reduction from 2014 CAPEX, excluding acquisitions.
Production guidance of 60.4 - 63.5 MMBOE, or 12% production growth year over year at the midpoint.
Fourth quarter GAAP net income of $331.7 million or $4.91 per diluted share; adjusted net income of $70.9 million, or $1.05 per diluted share.
Fourth quarter GAAP net cash provided by operating activities of $381.5 million; quarterly adjusted EBITDAX of $419.0 million.
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