Company:SM Energy

From HandWiki
SM Energy Company
TypePublic
IndustryPetroleum industry
Founded1908; 118 years ago (1908)
HeadquartersDenver, Colorado, U.S.
Key people
Herbert S. Vogel (President & CEO)
A. Wade Pursell (Executive Vice President & CFO)
Beth A. McDonald (Executive Vice President & COO)
Julio M. Quintana (Chairman of the Board)
Products
Production output
170.5 thousand barrels of oil equivalent (1,043,000 GJ) per day (2024)
RevenueIncrease US$2.7 billion (2024)
Increase US$770 million (2024)
Total assetsIncrease US$8.6 billion (2024)
Total equityIncrease US$4.2 billion (2024)
Number of employees
663 (2024)
Websitesm-energy.com
Footnotes / references
[1]

SM Energy Company is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.

The company's assets are in the Eagle Ford Group/South Texas (51% of reserves and 48% of 2024 production), the Permian Basin/Midland Basin (34% of reserves and 47% of 2024 production), and the Uinta Basin (15% of reserves and 5% of 2024 production).

As of December 31, 2024, the company had 678.3 million barrels of oil equivalent (4.150×109 GJ) of estimated proved reserves, of which 44% was petroleum, 18% was natural gas liquids, and 38% was natural gas.[1]

History

The company was founded in 1908 and incorporated in 1915. In 1992, the company became a public company via an initial public offering.[1] In May 2010, the company changed its name from St. Mary Land & Exploration Company to SM Energy.[2]

Acquisitions and divestitures

Date Acquisition / Divestiture Company Price Ref(s).
2010 Divestiture Assets in the Rocky Mountains $267 million [3]
2011 Divestiture Partial interest in Eagle Ford Group holdings to Mitsui & Co. $680 million [4]
2013 Divestiture Assets in the Anadarko Basin $329 million [5]
2014 Acquisition 66,000 acres in the Bakken Formation $330 million [6]
2015 Divestiture Assets in the Arkoma Basin $270 million [7]
2015 Divestiture 76,300 net acres in Ark-La-Tex Undisclosed [8][9]
2016 Acquisition Rock Oil Holdings LLC, which owned 24,783 net acres in Howard County, Texas $980 million [10]

[11]

2016 Acquisition Assets in West Texas $1.6 billion [12][13]
2016 Divestiture Assets in the Williston Basin sold to Oasis Petroleum $800 million [12][14]
2017 Divestiture Assets in the Eagle Ford Group $800 million [15][16]
2018 Divestiture 112,200 Acre Leasehold In The Powder River Basin $500 million [17]
2018 Divestiture Assets in the Williston Basin $249.2 million [18][19]
2024 Acquisition Assets in the Uinta Basin $2.1 billion [20]

References

  1. ↑ 1.0 1.1 1.2 "SM Energy Company 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 22, 2025. https://www.sec.gov/ix?doc=/Archives/edgar/data/0000893538/000089353825000008/sm-20241231.htm. 
  2. ↑ "St. Mary Land & Exploration is changing its name". American City Business Journals. May 27, 2010. https://www.bizjournals.com/denver/stories/2010/05/24/daily45.html. 
  3. ↑ "St. Mary Land & Exploration To Divest Non-strategic Rocky Mountain Oil Assets For $267 Mln - Update". RTT News. January 8, 2010. https://www.rttnews.com/1174817/st-mary-land-exploration-to-divest-non-strategic-rocky-mountain-oil-assets-for-267-mln-update.aspx. 
  4. ↑ "Mitsui Finalizes Eagle Ford Deal With SM Energy". Hart Energy. December 21, 2011. https://www.hartenergy.com/news/mitsui-finalizes-eagle-ford-deal-sm-energy-45152. 
  5. ↑ "SM Energy Exits Anadarko Basin With $343 Million Sale". Hart Energy. November 6, 2013. https://www.hartenergy.com/news/sm-energy-exits-anadarko-basin-343-million-sale-84524. 
  6. ↑ Harden, Mark (July 30, 2014). "SM Energy to acquire 61,000 acres in Bakken for $330 million". American City Business Journals. https://www.bizjournals.com/denver/blog/earth_to_power/2014/07/sm-energy-to-acquire-61-000-acres-in-bakken-for.html. 
  7. ↑ Harden, Mark (June 1, 2015). "SM Energy sells Oklahoma assets for $270 million". American City Business Journals. https://www.bizjournals.com/denver/blog/earth_to_power/2015/06/sm-energy.html. 
  8. ↑ "Aethon Energy and RedBird Capital Acquire SM Energy's Ark-LA-Tex Assets" (Press release). PR Newswire. July 1, 2015.
  9. ↑ "Aethon, RedBird Acquire SM Energy's Ark-La-Tex Assets". Hart Energy. July 2, 2015. https://www.hartenergy.com/news/aethon-redbird-acquire-sm-energys-ark-la-tex-assets-104651. 
  10. ↑ "Riverstone Holdings LLC Announces Sale of Rock Oil Holdings LLC to SM Energy Company" (Press release). PR Newswire. August 8, 2016.
  11. ↑ Zborowski, Matt (August 8, 2016). "SM Energy to buy Midland basin firm for $980 million". Oil & Gas Journal. https://www.ogj.com/general-interest/article/17249541/sm-energy-to-buy-midland-basin-firm-for-980-million. 
  12. ↑ 12.0 12.1 "SM Energy Cores Up in the Midland Basin with Simultaneous Transactions" (Press release). Business Wire. October 18, 2016.
  13. ↑ "SM Energy to buy Permian Basin acreage for $1.6 billion". Reuters. October 18, 2016. https://www.reuters.com/article/sm-energy-permian-idUKL4N1CO3K9/. 
  14. ↑ "Oasis to buy Williston assets from SM Energy for $785 million". Oil & Gas Journal. October 18, 2016. https://www.ogj.com/general-interest/article/17250726/oasis-to-buy-williston-assets-from-sm-energy-for-785-million. 
  15. ↑ "SM Energy Announces Closing The Sale Of Non-Operated Eagle Ford Assets" (Press release). PR Newswire. March 13, 2017.
  16. ↑ Hiller, Jennifer (January 3, 2017). "SM Energy switches focus from the Eagle Ford to the Permian Basin". San Antonio Express-News. https://www.expressnews.com/business/eagle-ford-energy/article/SM-Energy-switches-focus-from-the-Eagle-Ford-to-10833263.php. 
  17. ↑ "SM Energy Announces Agreement To Sell 112,200 Acre Leasehold In The Powder River Basin For $500 Million". Reuters. January 10, 2018. https://www.reuters.com/article/business/sm-energy-announces-agreement-to-sell-112200-acre-leasehold-in-the-powder-river-idUSASB0C0H1/. 
  18. ↑ "SM Energy Announces Closing Of Non-Core Asset Sales And Participation In Upcoming Conferences" (Press release). PR Newswire. May 31, 2018.
  19. ↑ "SM Energy Transitions To Pure-Play Texas Company With $292 Million Asset Sales". Hart Energy. April 4, 2018. https://www.hartenergy.com/exclusives/sm-energy-transitions-pure-play-texas-company-292-million-asset-sales-30919. 
  20. ↑ Dareen, Seher (June 27, 2024). "SM Energy to buy XCL's Uinta assets for $2 bln, shares slump". Reuters. https://www.reuters.com/business/energy/sm-energy-buys-xcl-resources-shale-assets-2-bln-2024-06-27/. 



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