SM Energy Company (SM) today announces that the Company will be participating in the following events:
• June 17, 2015 – TPH 2015 Hotter ‘N Hell Conference in Houston, Texas. Jay Ottoson, President and Chief Executive Officer, will conduct investor meetings.
• June 22-24, 2015 – Macquarie will host the Company at investor meetings in London.
The Company is posting an updated investor presentation to its website at www.sm-energy.com in conjunction with this release. The investor presentation has updated information on slides 5, 8, and 27. The updated presentation includes additional data on the Company’s expected natural gas liquids (“NGL”) realized prices in response to recent declines in propane and butane prices.
As described in the updated investor presentation, the Company expects that recent NGL price declines will reduce the Company’s 2015 total revenue by approximately $25 million, or 1.5% of its total 2015 budgeted revenue. The Company’s 2015 budgeted revenue is based on production volumes and strip pricing as of 2/3/15, while the NGL price sensitivity uses the same budgeted production volumes with actual realized NGL prices through 5/31/15 and strip NGL pricing as of 6/11/15 for the remainder of the year. The minimal impact expected from lower liquids prices is not expected to affect drilling or production plans.