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SM Energy sees FY14 production up 16%

Based on the capital budget, the company anticipates FY14 production to range from 51 MMBOE - 53.5 MMBOE, or 140 MBOE/d - 147 MBOE/d, which represents reported production growth of approximately 9% next year. Adjusted for the 3.0 MMBOE of 2013 production attributed to the Anadarko Basin assets that are scheduled to be divested at the end of 2013, production growth on retained properties is expected to be approximately 16% in 2014. With the divestiture of relatively gassy Anadarko Basin assets and increased activity in liquid rich basins, the company expects its production mix to continue to shift toward liquids with full year production expected to be approximately 53% liquids, up from approximately 48% liquids in 2013.