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
SM Energy plans to use the proceeds to improve liquidity Denver-based SM Energy Company (ticker: SM) announced today that the company has entered into two agreements to divest non-core assets for a combined price of $172.5 million. The transactions are expected to close late in the third quarter of 2016, according to the company’s press release. One of the two
Many energy companies have elected to reduce or suspend dividends over the course of 2015, but not everyone. On March 29, 2016, SM Energy (ticker: SM; SM-Energy.com) announced that the board of directors had approved a semi-annual cash dividend of $0.05 per common share of stock outstanding. This equates to a $0.10 yearly dividend, and a dividend yield of 0.53%
