SM Energy Company Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 01:48 am IST
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SM Energy Company reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 550.75 million compared to USD 992.1 million a year ago. Net income was USD 149.87 million compared to USD 323.49 million a year ago. Basic earnings per share from continuing operations was USD 1.26 compared to USD 2.65 a year ago. Diluted earnings per share from continuing operations was USD 1.25 compared to USD 2.6 a year ago.
For the six months, revenue was USD 1,124.26 million compared to USD 1,851.88 million a year ago. Net income was USD 348.43 million compared to USD 372.25 million a year ago. Basic earnings per share from continuing operations was USD 2.89 compared to USD 3.05 a year ago. Diluted earnings per share from continuing operations was USD 2.88 compared to USD 3 a year ago.
SM Energy Company s an independent energy company. The Company is engaged in the acquisition, exploration, development, and production of oil, gas, and natural gas liquid (NGL) in the state of Texas. The Companyâs asset portfolio is comprised of assets in the Midland Basin of West Texas and in the Maverick Basin of South Texas. The Companyâs Midland Basin assets are located in the Permian Basin in West Texas is comprised of approximately 110,000 net acres and include its RockStar assets in Howard and Martin Counties, Texas, its Sweetie Peck assets in Upton and Midland Counties, and Klondike assets in Dawson and northern Martin counties (Midland Basin). Its South Texas assets are comprised of approximately 155,000 net acres located in Dimmit and Webb Counties, Texas (South Texas). The Companyâs operations in South Texas are focused on production from the Eagle Ford shale formation and Austin Chalk formation, and further development of the Austin Chalk formation.
SM ENERGY COMPANY 
