SM Energy

Last updated
SM Energy Company
Company type Public company
NYSE:  SM
S&P 600 component
Industry Petroleum industry
Founded1908;117 years ago (1908)
Headquarters Denver, Colorado, United States
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 Petroleum
Natural gas
Natural gas liquids
Production output
170.5 thousand barrels of oil equivalent (1,043,000 GJ) per day (2024)
RevenueIncrease2.svg $2.7 billion (2024)
Increase2.svg $770 million (2024)
Total assets Increase2.svg $8.6 billion (2024)
Total equity Increase2.svg $4.2 billion (2024)
Number of employees
663 (2024)
Website sm-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.

Contents

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

DateAcquisition / DivestitureCompanyPriceRef(s).
January 2010DivestitureAssets in the Rocky Mountains$267 million [3]
December 2011DivestiturePartial interest in Eagle Ford Group holdings to Mitsui & Co. $680 million [4]
November 2013DivestitureAssets in the Anadarko Basin $329 million [5]
July 2014Acquisition66,000 acres in the Bakken Formation $330 million [6]
June 2015DivestitureAssets in the Arkoma Basin$270 million [7]
July 2015Divestiture76,300 net acres in Ark-La-Tex Undisclosed [8] [9]
August 2016AcquisitionRock Oil Holdings LLC, which owned 24,783 net acres in Howard County, Texas $980 million [10]

[11]

October 2016AcquisitionAssets in West Texas $1.6 billion [12] [13]
October 2016DivestitureAssets in the Williston Basin sold to Oasis Petroleum $800 million [12] [14]
March 2017DivestitureAssets in the Eagle Ford Group $800 million [15] [16]
January 2018Divestiture112,200 Acre Leasehold In The Powder River Basin$500 million [17]
May 2018DivestitureAssets in the Williston Basin $249.2 million [18] [19]
June 2024AcquisitionAssets in the Uinta Basin $2.1 billion [20]

References

  1. 1 2 3 "SM Energy Company 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 22, 2025.
  2. ↑ "St. Mary Land & Exploration is changing its name" . American City Business Journals . May 27, 2010.
  3. ↑ "St. Mary Land & Exploration To Divest Non-strategic Rocky Mountain Oil Assets For $267 Mln - Update". RTT News. January 8, 2010.
  4. ↑ "Mitsui Finalizes Eagle Ford Deal With SM Energy". Hart Energy . December 21, 2011.
  5. ↑ "SM Energy Exits Anadarko Basin With $343 Million Sale". Hart Energy . November 6, 2013.
  6. ↑ Harden, Mark (July 30, 2014). "SM Energy to acquire 61,000 acres in Bakken for $330 million" . American City Business Journals .
  7. ↑ Harden, Mark (June 1, 2015). "SM Energy sells Oklahoma assets for $270 million" . American City Business Journals .
  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.
  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 .
  12. 1 2 "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.
  14. ↑ "Oasis to buy Williston assets from SM Energy for $785 million". Oil & Gas Journal . October 18, 2016.
  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 .
  17. ↑ "SM Energy Announces Agreement To Sell 112,200 Acre Leasehold In The Powder River Basin For $500 Million". Reuters . January 10, 2018.
  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.
  20. ↑ Dareen, Seher (June 27, 2024). "SM Energy to buy XCL's Uinta assets for $2 bln, shares slump". Reuters .
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