SM Energy Company Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 29, 2021 at 01:48 am IST
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SM Energy Company reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported revenue was USD 760.24 million compared to USD 281.02 million a year ago. Net income was USD 85.59 million compared to net loss of USD 98.29 million a year ago. Basic earnings per share from continuing operations was USD 0.7 compared to basic loss per share from continuing operations of USD 0.86 a year ago. Diluted earnings per share from continuing operations was USD 0.69 compared to diluted loss per share from continuing operations of USD 0.86 a year ago.
For the nine months, revenue was USD 1,767.93 million compared to USD 806.38 million a year ago. Net loss was USD 388.67 million compared to USD 599.44 million a year ago. Basic loss per share from continuing operations was USD 3.29 compared to USD 5.28 a year ago. Diluted loss per share from continuing operations was USD 3.29 compared to USD 5.28 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.