SM Energy Company's ( SM ) Board of Directors has approved a capital expenditure budget for 2013 and provides 2013 production and cost guidance.
The company anticipates full year 2013 production to range from 255 to 267 BCFE (699-732 MMCFE/d), which represents a 20% annual increase over 2012 at the midpoint of next year's guidance. It expects to exit 2013 producing within a range of 769 to 808 MMCFE/d with a mix of 50% natural gas, 29% oil, and 21% NGLs.
The company's Board has approved a capital budget of $1.5 million for 2013.
SM edged up by 6 cents to $51.07 in the after-hours market.
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