SM Energy (SM) has decided to reduce the company’s operated drilling program in the Haynesville Shale due to low prices for natural gas.
SM Energy will now spend from $35 million to $40 million in capital in the Haynesville Shale in 2012, and cut four wells from its program during the year. The company said that once its 2012 drilling is completed, it will have approximately 80% of its operated Haynesville shale acreage held by production.
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