Description:
SM Energy Company Valuation Report, June 2010 - Strategic and Operational Analysis
Summary
SM Energy is an independent energy company primarily engaged in the exploration, development and production of crude oil and natural gas in the US. The company primarily operates in the Ark Latex, Mid-Continent, Gulf Coast, Permian and Rocky Mountain regions in the US. SM Energy mainly focuses on the development of shales to increase its reserves and production level. Additionally, the company has been expanding its existing assets rather than acquiring new high-risk assets in order to de-risk its portfolio.
Scope
- Investment Thesis: This section highlights the companies new ventures, liquidity issues, assets analysis, hedging, new projects details, capex funding, geographical results of oil and gas operations, and other related analysis.
- Goals and Strategies: Provide highlights on their existing and upcoming challenges with the possible strategies.
- SWOT: This section highlights the companies internal strength, weakness, opportunities and threats to better understand their position in the market
- Production and Development profile: This section highlights the companies’ forecasted crude oil and natural gas production from their existing and upcoming assets. It also covers the detailed information and analysis on the producing and development assets.
- Exploration and M&A trends: This section includes exploration assets information resulted due to new discoveries, new drilling and other activities. Additionally, M&A section highlights the companies’ recent assets transactions, joint ventures, acquisition, and divestment activities during the specified period.
- Financial Forecast and Valuation: This section highlights the detailed financial forecast of the companies for coming five years. This section also provides intrinsic value of the companies’ by using different valuation techniques.
- Peer Group: This section compares peer group performance with the main companies on the basis of share prices, financial ratios, operational and financial parameters and other related activities.
Reasons to buy
- The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to:
- Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
- Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
- Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
- Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Contents:
1 Table of Content
1.1 List of Tables
1.2 List of Figures
2 SM Energy Company, Company Overview
3 SM Energy Company, Watchlist for 2010
4 SM Energy Company, Investment Summary
4.1 SM Energy’s Eagle Ford Exposure Will Drive its Long Term Growth
4.2 SM Energy Supplementing Its Shale Operations through Haynesville Shale Development
4.3 SM Energy Huge Plans for Oil Development and Divestures
4.4 Strong Liquidity Position
5 SM Energy Company, SWOT Analysis
5.1 Strengths
5.1.1 Significant Presence in Major Shales in North America
5.1.2 Sustainable Liquidity with Significant Cash Flows and Unlevered Capital Structure Compared to its Peers
5.2 Weakness
5.2.1 Declining Production
5.2.2 Dwindling Reserves Additions
5.3 Opportunities
5.3.1 Unconventional Resource Potential
5.3.2 Divestures, Acquisitions and Joint Ventures
5.4 Threats
5.4.1 Lack of Operational Expertise
6 SM Energy Company, Goals and Strategies
6.1 Shifting Focus on Exploration and Development of Onshore Resource Plays in North America
6.2 Strengthening Balance Sheet through the Maintenance of Huge Cash Flows and the Divesture of Non-Core Assets
6.3 Sustainable Production in the Near Future
7 SM Energy Company, Production Overview
7.1 Production Profile
7.2 Mid-Continent Region
7.3 Rocky Mountain Region
7.4 Permian Region
7.5 Arklatex Region
7.6 Gulf Coast Region
7.7 Operational and Cost Updates
8 SM Energy Company, Exploration and Development
8.1 Exploration and Development Profile
8.2 Marcellus Shale
8.3 Bakken Shale and Three Forks
8.4 Granite Wash Basin
8.5 Woodford Shale
8.6 Haynesville Shale
8.7 Eagle Ford Shale
8.8 Reserve Additions and Associated Costs
9 SM Energy Company, M&A Activity
10 SM Energy Company, Outlook
11 SM Energy Company, Forecast Production and Financial Statements
11.1 Income Statement (2007-2014E)
11.2 Balance Sheet (2007-2014E)
11.3 Cash Flow Statement (2007 – 2014E)
11.4 Financial Ratios
12 SM Energy Company, Valuation
12.1 Net Asset Value
13 SM Energy Company, Peer Comparison
13.1 Share Price Performance
13.2 Operational and Financial Performance
13.3 Key Financial and Operational Ratios
13.4 Valuation Ratios
14 SM Energy Company, Key Risks
14.1 Fluctuating Crude Oil and Natural Gas Prices
14.2 Reserves and Drilling Operations
14.3 Competition
15 SM Energy Company, Detailed Financial & Operational Metrics
15.1 SM Energy Company, Results of Oil & Gas Operations Per BOE Produced, Q4, 2008 – Q4, 2009
15.1.1 Results of Oil & Gas Operations Per BOE Growth Rates, Q4, 2008 – Q4, 2009
15.2 SM Energy Company, Quarterly E&P Costs Trends
15.2.1 Upstream Capex, Q4, 2008 – Q4, 2009
15.3 SM Energy Company, Quarterly Production Trends
15.3.1 Total Crude Oil and Natural Gas Production Trend, Q4, 2008 – Q4, 2009
15.3.2 Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2008 – Q4, 2009
15.3.3 Total Crude Oil and Natural Gas Production Per Share, Q4, 2008 – Q4, 2009
15.4 SM Energy Company, Crude Oil Production
15.4.1 Total Crude Oil Production Trend, Q4, 2008 – Q4, 2009
15.4.2 Crude Oil Production, By Country/Region, Q4, 2008 – Q4, 2009
15.5 SM Energy Company, Natural Gas Production
15.5.1 Total Natural Gas Production Trend, Q4, 2008 – Q4, 2009
15.5.2 Natural Gas Production, By Country/Region, Q4, 2008 – Q4, 2009
15.6 SM Energy Company, Production and Reserves Trends
15.6.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2004-2009
15.6.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2004 – 2009
15.6.3 Total Crude Oil and Natural Gas Reserve Changes, 2004-09
15.7 SM Energy Company, Crude Oil/Liquids Production and Reserve
15.7.1 Crude Oil/Liquids Production and Reserve Trend, 2004-09
15.7.2 Crude Oil Production and Reserves By Country/Region, 2004 – 2009
15.7.3 Crude Oil/Liquids Reserve Changes, 2004 – 2009
15.8 SM Energy Company, Natural Gas Production and Reserve
15.8.1 Natural Gas Production and Reserve Trend, 2004 – 2009
15.8.2 Natural Gas Production and Reserves, By Country/Region, 2004 – 2009
15.8.3 Natural Gas Reserve Changes, 2004 – 2009
15.9 SM Energy Company, Total Crude Oil and Natural Gas Reserves Life Index
15.9.1 Total Crude Oil and Natural Gas Reserves Life Index, 2004 – 2009
15.9.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2004 – 2009
15.10 SM Energy Company, E&P Costs Trends
15.10.1 Upstream Capex, 2004 – 2009
15.10.2 Acquisition Costs By Country/Region, 2004 – 2009
15.10.3 Exploration and Development Costs, By Country/Region, 2004 – 2009
15.11 SM Energy Company, Oil and Gas Cost Per Boe, $/boe
15.11.1 Oil and Gas Cost Per Boe, $/boe, 2004 – 2009
15.11.2 Oil and Gas Cost Per Boe, $/boe, By Country/Region, 2004 – 2009
15.12 SM Energy Company, Reserve Replacement Ratio
15.12.1 Oil and Gas Production Replacement Ratio, 2004 – 2009
15.12.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2004 – 2009
15.13 SM Energy Company, Results of Oil & Gas Operations Trend
15.13.1 Oil and Gas Revenue and Expenses, 2004 – 2009
15.13.2 Oil and Gas Revenue and Expenses, By Country/Region, 2004 – 2009
15.14 SM Energy Company, Oil and Gas Revenue and Expenses, Per Boe
15.14.1 Oil and Gas Revenue and Expenses, By Boe, 2004 – 2009
15.14.2 Oil and Gas Revenue and Expenses Per Boe, By Country/Region, 2004 – 2009
15.15 SM Energy Company, Oil and Gas Performance Metrics
15.16 SM Energy Company, Land Holdings and Well Data
15.16.1 Gross and Net Developed and Undeveloped Acreage, 2004 – 2009
15.16.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2004 – 2009
15.17 SM Energy Company, Well Statistics
15.17.1 Producible Oil and Gas Well, 2004 – 2009
15.17.2 Producible Oil and Gas Well, By Country/Region, 2004 – 2009
15.17.3 Exploration and Development Wells Drilled, 2004 – 2009
15.17.4 Exploration and Development Wells Drilled, By Country/Region, 2004 – 2009
15.17.5 Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2004 – 2009
15.17.6 Developed Reserves per Well, By Country/Region, 2004-2009
16 Appendix
16.1 Methodology
16.1.1 Coverage
16.1.2 Secondary Research
16.1.3 Primary Research
16.2 Data Sources
16.2.1 Company Source
16.2.2 SEC/Other Regulatory Filings
16.2.3 Agency Reports
16.2.4 Other Sources
16.3 Methodology for Company Valuation
16.4 Expert Panel Validation
16.5 Units of Measure
16.6 About Us
16.7 Disclosure
16.8 Disclaimer
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