News Release
 
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
August 3, 2017

SM ENERGY REPORTS SECOND QUARTER OF 2017 RESULTS
FOCUS ON CAPITAL EFFICIENCY DRIVING VALUE
PRODUCTION BEATS, RAISING GUIDANCE

Production beats expectations: 11.3 MMBoe, exceeding guidance due to well performance
11% growth from retained assets compared with the second quarter of 2016
Full year 2017 production guidance increased by 0.8 MMBoe at the mid-point to 44.5-46.5 MMBoe
Guidance reflects expected significant oil growth in the second half of 2017
Capital efficiency drives value: First half of 2017 exceeds plan expectations for well performance and revenue at lower than expected drilling and completion costs
Well tests continue to confirm RockStar acreage to east: Viper well peak 24-hour IP rate of 1,316 Boe/d, 91% oil
Balance sheet remains strong: $1.5 B in liquidity

Denver, Colorado August 3, 2017 - SM Energy Company ("SM Energy" or the “Company”) (NYSE: SM) announced today financial results and operations highlights from the second quarter of 2017. The Company has revised its quarterly reporting format to include posting both an investor presentation and pre-recorded call in conjunction with this release. Please visit the Company’s website at sm-energy.com to access this additional second quarter detail. The Company will host a webcast and conference call at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) tomorrow, August 4, 2017, to answer questions. Further information on the earnings webcast and conference call can be found below.
MANAGEMENT COMMENTARY
President and Chief Executive Officer Jay Ottoson comments: “Our team continues to meet or exceed our operational objectives year-to-date.  Our relentless pursuit of improved well performance and detailed approach to cost management have delivered high levels of efficiency in our capital investment program. As a result, year-to-date we have generated more production than we expected with less capital investment than we planned, and we are further increasing 2017 production guidance to reflect our projections for continued outperformance.” 


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The following information was filed by Sm Energy Co (SM) on Thursday, August 3, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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