DENVER, May 16, 2017 /PRNewswire/ -- SM Energy Company (the "Company") (NYSE: SM) announced today that it has postponed indefinitely the planned sale of its Divide County, North Dakota assets as valuations in the sales process did not reach the Company's threshold to meaningfully reduce its leverage. President and Chief Executive Officer Jay Ottoson comments: "We have successfully pre-funded the expected outspend for [...]
DENVER, May 2, 2017 /PRNewswire/ -- Production of 12.1 MMBoe, well ahead of guidance 55% sequential growth in Midland Basin Full year production guidance increased by 1.5 MMBoe to 41.5-44.5 MMBoe Costs incurred $282 MM (includes acquisitions); total capital spend $193 MM, 4% less than projected (see GAAP reconciliation below) Full year total capital spend (excluding acquisitions) guidance of $875 MM unchanged [...]
DENVER, March 29, 2017 /PRNewswire/ -- SM Energy Company (NYSE: SM) today announces that its Board of Directors has approved a semi-annual cash dividend of $0.05 per share of common stock outstanding. The dividend will be paid on May 3, 2017, to stockholders of record as of the close of business on April 21, 2017. The Company currently has approximately 111.3 million shares of common stock outstanding. [...]
DENVER, March 13, 2017 /PRNewswire/ -- SM Energy Company (NYSE: SM) announced today that it closed the previously announced sale of its third party operated assets in the Eagle Ford, including ownership interest in midstream assets, for $800.0 million gross or $754.0 million net cash proceeds adjusted for post-effective date revenue and expenses, before final customary purchase price adjustments. The buyer is Venado EF [...]
DENVER, Feb. 22, 2017 /PRNewswire/ -- SM Energy Company ("SM Energy" or the "Company") (NYSE: SM) announces today fourth quarter and full year 2016 financial and operating results, year-end 2016 reserves and the Company's 2017 operating plan. Highlights include: transformative second half of 2016; more than $6 billion in completed or announced transactions that reposition the Company to have a top tier asset base in both [...]
DENVER, Jan. 31, 2017 /PRNewswire/ -- SM Energy Company (NYSE: SM) announced today results on eight new wells located in Howard County in the Midland Basin, Texas. Highlights include: The Tackleberry 43-42 A 1WA, a 7,860' lateral Wolfcamp A completion, produced a peak average 30-day initial production rate of 2,262 Boe/d, which is among the highest 30-day rates per lateral foot recorded in the Midland Basin All eight [...]
DENVER, Jan. 26, 2017 /PRNewswire/ -- SM Energy Company (NYSE: SM) plans to host two upcoming investor webcasts/conference calls. January 31, 2017 at 8:00 a.m. MT/10:00 a.m. ET: Please join SM executive management via webcast or conference call for an update on Midland Basin well results. Please access the webcast and associated slide deck from the Company's homepage at www.sm-energy.com. The call will be accessible live [...]
DENVER, Jan. 10, 2017 /PRNewswire/ -- SM Energy Company (NYSE: SM) today announced that it has engaged Tudor, Pickering, Holt & Co. to run a formal bid process for sale of the Company's Divide County area assets in the Williston Basin. Assuming an acceptable offer is received, the Company expects to close the sale transaction around mid-year of 2017. Associated December 2016 production for the Divide County assets was [...]
DENVER, Jan. 3, 2017 /PRNewswire/ -- SM Energy Company (NYSE: SM) today announced that it has entered into a definitive agreement with a subsidiary of Venado Oil and Gas, LLC, an affiliate of KKR, for the sale of the Company's third party operated assets in the Eagle Ford, including its ownership interest in related midstream assets, for a purchase price of $800 million (subject to customary adjustments). President and [...]
DENVER, Dec. 21, 2016 /PRNewswire/ -- SM Energy Company (NYSE: SM) announced today that the Company closed the previously announced acquisition of oil and natural gas assets in Howard and Martin Counties, Texas, from QStar LLC and a related entity for $1.6 billion, before customary purchase price adjustments. The Company estimates its Midland Basin footprint to approximate 87,600 net acres, including the pending [...]
DENVER, Dec. 7, 2016 /PRNewswire/ -- SM Energy Company ("SM Energy") (NYSE: SM) announced today the closing of its previously announced underwritten public offering of 10,925,000 shares of common stock, which includes the full exercise by the underwriters of their option to purchase an additional 1,425,000 shares of common stock. Net proceeds from the sale of the shares of common stock, including as a result of the option [...]
DENVER, Dec. 1, 2016 /PRNewswire/ -- SM Energy Company ("SM Energy") (NYSE: SM) announced today that it priced an upsized underwritten public offering of 9,500,000 shares of common stock for gross proceeds of approximately $363.4 million. SM Energy also granted the underwriters a 30-day option to purchase up to 1,425,000 additional shares of common stock. The offering is expected to close on December 7, 2016, subject to [...]
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