Current SM Stock Info

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 press release. The implied deal metrics of SM’s acquisition are $20,962.57 per acre, $200,000 per flowing BOE, and $163.33 per BOE of proved reserves.

As the global glut of...

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