SM Energy(US:SM)2024-10-31 21:23Financial Performance - The company reported 3Q24 net production of 170.0 MBoe/d [10, 22] - Adjusted EBITDAX for 3Q24 was $481.5 million [23] - Adjusted free cash flow for 3Q24 was $129.8 million [24] - Adjusted EPS for 3Q24 was $1.62 [24] Portfolio and Acreage - Uinta Acquisitions increased acreage by approximately 63,300 net acres [5, 10] - The company's acreage increased by approximately 40% over the last 12-18 months [10] - Midland Basin net acres are approximately 111,000 [5, 40] - South Texas net acres are approximately 155,000 [5, 40] Hedging - Approximately 40+% of expected 4Q net oil production is hedged at an average price of $72.08/Bbl to $78.27/Bbl [28] - Approximately 20% of expected 4Q net natural gas production is hedged at an average price of $3.32/MMBtu [29] - 30-35% of total expected 2024 net production is hedged [32] Guidance - Capital expenditures for full year 2024 are guided at $1.24–$1.26 billion [33] - Total net production for full year 2024 is guided at 170–174 MBoe/d [33] - Oil percentage for full year 2024 is expected to be approximately 47% [33]