SM Energy(NYSE:SM) today announces its 2014 proved year-end reserves and production for the fourth quarter and full year of 2014. Jay Ottoson, President and CEO, commented, “SM Energy finished 2014 on a high note driven by continuing improvement in the performance of our core development assets. Our strong production growth was primarily driven by new completions in our Eagle Ford program and we continued our track [...]
SM Energy Company (NYSE: SM) today announces that as part of its previously announced leadership transition plan, Anthony J. Best has retired and the Company’s Board of Directors appointed Javan (Jay) D. Ottoson as President and Chief Executive Officer of the Company, effective as of February 1, 2015. Mr. Best will complete his current term as a member of the Board, and does not plan to stand for re-election to the Board [...]
SM Energy Company (NYSE: SM) is scheduled to release details regarding its earnings and results for the fourth quarter and full year 2014 after the close of trading on February 24, 2015. A teleconference to discuss these results and other operational matters is scheduled for February 25, 2015 at 8:00 a.m. Mountain time (10:00 a.m. Eastern time). Conference dial-in information is included below. A telephonic replay of the [...]
SM Energy Company (NYSE: SM) announced today that it is beginning a process to sell its assets in the Arkoma Basin of Oklahoma and in the Arklatex area of East Texas and Northern Louisiana. These assets produced approximately 3.4 MMBOE, net during 2014 (98% gas). The sale process will be managed by RBC Richardson Barr & Co. Assuming acceptable bids are received, the closing of the sale should be in mid-2015. The Company [...]
SM Energy Company (NYSE: SM) announces that the Company and its bank group have agreed to amend its senior secured revolving credit facility. Under the terms of the amendment, the aggregate commitment amount from the bank group was increased to $1.5 billion from $1.3 billion, the maturity was extended to December 10, 2019, and the Company’s cost of borrowing was reduced by adopting an improved pricing grid. In addition [...]
SM Energy Company (NYSE: SM) today announces that the Company will be participating in the following upcoming investor event: December 11, 2014 – Capital One Securities, Inc. 9th Annual Energy Conference. Jay Ottoson, President and Chief Operating Officer, will present at 8:20 AM Central Time. SM Energy's presentation materials for this event will be available after market close on Wednesday, December 10, 2014, on [...]
SM Energy Company (NYSE: SM) today announces that it has priced a private offering of $600 million of 6.125% senior unsecured notes due 2022. The Company increased the size of the offering from the previously announced $400 million to $600 million. These senior notes will be issued at par. The offering is expected to close on November 17, 2014, subject to customary closing conditions. The Company intends to use the net [...]
SM Energy Company (NYSE: SM) today announces that, subject to market conditions, it intends to offer $400 million of senior unsecured notes due 2022 in a private placement to eligible purchasers. SM Energy intends to use the net proceeds from the offering to repay outstanding borrowings under its credit facility and for general corporate purposes. The notes have not been registered under the Securities Act of 1933, as [...]
SM Energy Company (NYSE: SM) announces its financial results for the third quarter of 2014 and provides an operations update. In addition, a new presentation concerning the Company's third quarter earnings and operations update will be posted on the Company's website at www.sm-energy.com. This presentation will be referenced during the conference call scheduled for 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on [...]
SM Energy Company (NYSE: SM) is scheduled to release details regarding its earnings for the third quarter of 2014 after the close of trading on October 28, 2014. A teleconference to discuss these results and other operational matters is scheduled for October 29, 2014, at 8:00 a.m. Mountain time (10:00 a.m. Eastern time). Conference dial-in information is included below. A telephonic replay of the call will be available [...]
SM Energy Company (NYSE: SM) announces that production for the third quarter of 2014 is expected to be 13.1 MMBOE, or 142.5 MBOE/d, which is at the low end of the Company’s previously issued guidance. SM Energy has moved to an enhanced completion program in its Eagle Ford producing area using higher sand loading and longer laterals. These enhanced completions, while improving well economics, resulted in longer than [...]
SM Energy Company 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 November 5, 2014, to stockholders of record as of the close of business on October 24, 2014. The Company currently has approximately 67.4 million shares of common stock outstanding. The Company has paid cash dividends to its stockholders every [...]
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