SM Energy (NYSE: SM) Company Overview With roots all the way back to 1908, SM Energy is an independent E&P company focused on onshore oil and natural gas plays in Texas. SM is running eight rigs and four frac fleets in the Midland Basin today, with big results from its new Rockstar wells. SM Energy has more than 600 employees.
100% year-over-year growth in Midland Basin production; realized price is SM’s highest level in 14 quarters: $37.76/BOE average Midland Basin operations up to nine rigs and five completions crews; SM expects to double completions in Q2 The Midland Basin produced strong results for Texas-focused SM Energy Company (ticker: SM) in the first quarter of 2018. In a brief update, the
Out of the Williston Midland- and Eagle Ford-focused SM Energy Company (ticker: SM) sold its remaining assets in the Williston Basin and third-party operated assets in Upton County, Texas. The combined sale generated $292.3 million, but the buyers have not been disclosed. President and CEO Jay Ottoson said, “We are committed to our strategy to focus on development of our
Northwoods is buyer of SM Energy’s PRB acreage; Apollo commits up to $850 million of funding Northwoods Energy LLC, a portfolio company of certain funds managed by affiliates of Apollo Global Management, LLC (ticker: APO), has plans to acquire SM Energy’s core Powder River Basin assets (read more below). The acquisition is comprised of over 112,200 predominantly contiguous net acres
Unloads PRB, increasing concentration on Midland and Eagle Ford SM Energy Company (ticker: SM) said that it entered into a definitive agreement to sell a majority of the company’s Powder River basin assets for a cash purchase price of $500 million. The buyer was undisclosed. President and CEO Jay Ottoson said, “Divestiture of these assets is consistent with our strategy
SM Energy Breakout Notes Jay Ottoson, president and CEO of SM Energy, (ticker: SM) presented today at EnerCom’s The Oil & Gas Conference® 22. SM Energy is a Denver-headquartered E&P company with its primary operated assets in the Permian and Eagle Ford basins. The company is concentrating its 2017 capital expenditure budget on its Permian assets. During its second quarter,
With producing acreage in the Midland basin and Maverick basin, SM Energy (ticker: SM) is zoning in on its most lucrative acreage. SM holds approximately 88,000 net acres in the Midland basin and another approximately 167,000 net acres in the Maverick basin. SM closed the sale of non-operated assets within the Eagle Ford for $800 million gross. Venado EF L.P.
SM Energy announces the results of 8 Midland wells on its recently acquired acreage SM Energy (ticker: SM) released initial production results from eight wells drilled on acreage the company acquired from Rock Oil and QStar, saying that the IP rates on the wells exceed pre-completion estimates. SM’s Tackleberry 43-42 A 1WA well performed especially well, the company said in
SM Energy announces sale of non-operated Eagle Ford assets for $800 million Denver-based SM Energy (ticker: SM) announced Tuesday that the company has divested its non-operated Eagle Ford assets for $800 million. SM has entered into a definitive agreement with a subsidiary of Venado Oil and Gas, LLC, an affiliate of KKR (ticker: KKR) for the sale of SM’s third
SM Energy closes $765.8 million Williston Basin divestiture SM Energy (ticker: SM) announced Thursday after market close that the company has completed its previously announced divestiture of its Williston Basin assets located outside of Divide County, North Dakota to Oasis Petroleum (ticker: OAS). Net cash proceeds from the deal amount to $765.8 million, according to the company’s press release. Third
SM Energy adds 35,700 acres in the Midland for $1.6 billion SM Energy Company (ticker: SM) announced Tuesday that it has entered into a definitive purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas, expanding the company’s Midland Basin footprint to approximately 82,450 net acres. The acquired acreage complements, and is partially contiguous to,
SM Energy purchases 46,750 net acres in Midland Basin Denver-based SM Energy (ticker: SM) announced the acquisition of 46,750 net acres in the Midland Basin today. The acreage is “largely contiguous” and includes approximately 4,900 BOEPD of production, two new wells coming online this month, and 6 MMBOE of PDP reserves from Rock Oil Holdings LLC, according to a company
