SM Energy (SM) released an operational update on its exploration and development activities during the third quarter of 2010. The company disclosed information on its properties in the Granite Wash of the Anadarko Basin.
SM Energy has 34,000 net acres that are prospective for the Granite Wash. The company reported the completion of the McGuire 1-6H well with a seven day average production rate of 6.9 million cubic feet of natural gas equivalents. The McGuire 1-6H well targeted the Marmaton B formation.
The McEntire 2-27H well, which was the company’s first well targeting the Marmaton B formation, was completed in the second quarter of 2010 at an initial production rate of 14.4 million cubic feet of natural gas equivalents per day.
SM Energy is completing a well in the Stiles Ranch area of the Texas panhandle that is targeting the Marmaton C formation. The company is operating two rigs and plans to drill seven wells in 2010.