SM Energy

Last updated
SM Energy Company
Type Public company
NYSE:  SM
S&P 600 component
Industry Petroleum industry
Founded1908;114 years ago (1908)
Headquarters Denver, Colorado, United States
Key people
Herb Vogel, President & CEO
A. Wade Pursell, CFO
William D. Sullivan, Chairman
Products Petroleum
Natural gas
Natural gas liquids
Production output
140.7 thousand barrels of oil equivalent (861,000 GJ) per day (2021)
RevenueIncrease2.svg $2.622 billion (2021)
Increase2.svg $36 million (2021)
Total assets Increase2.svg $5.233 billion (2021)
Total equity Increase2.svg $2.063 billion (2021)
Number of employees
506 (2021)
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 was known as St. Mary Land & Exploration Company until 2010.

The company's assets are in the Eagle Ford Group (57% of reserves and 45% of 2021 production) and the Permian Basin (43% of reserves and 55% of 2021 production).

As of December 31, 2021, the company had 492.0 million barrels of oil equivalent (3.010×109 GJ) of estimated proved reserves, of which 41% was petroleum, 17% was natural gas liquids, and 42% 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 2003, the company sold its assets in the Fort Chadbourne field for $17 million. [2]

In 2008, the company sold assets to Abraxas Petroleum Corporation for $131.6 million. [3]

In January 2010, the company sold assets in the Rocky Mountains for $267 million. [4]

In May 2010, the company changed its name from St. Mary Land & Exploration Company to SM Energy. [5]

In 2011, the company sold a partial interest in its holdings in the Eagle Ford Group to Mitsui & Co. [6]

In 2013, the company sold its assets in the Anadarko Basin for $329 million. [7]

In 2014, the company acquired 66,000 acres in the Bakken Formation for $330 million. [8]

In June 2015, the company sold its assets in the Arkoma Basin of Oklahoma for $270 million. [9]

In July 2015, the company sold its 76,300 net acres of Ark-La-Tex assets to Aethon Energy and RedBird Capital. [10]

In August 2016, the company acquired Rock Oil Holdings LLC, which owned 24,783 net acres in Howard County, Texas, from Riverstone Holdings for $980 million. [11] [12]

On October 18, 2016, the company announced the purchase of assets in West Texas for $1.6 billion from an affiliate of EnCap Investments and the sale of assets in the Williston Basin for $0.8 billion to Oasis Petroleum. [13]

In 2017, the company sold assets in the Eagle Ford Group for $800 million. [14]

In 2018, the company sold its assets in the Williston Basin. [15]

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References

  1. 1 2 3 "SM Energy Company 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "St. Mary Announces Property Sales and New Senior Vice President" (Press release). Business Wire. December 2, 2003.
  3. ↑ "Abraxas Announces Closing of St. Mary Land & Exploration Property Acquisition" (Press release). Business Wire. January 31, 2008.
  4. ↑ "St. Mary Updates Status of Rocky Mountain Divestiture Program" (Press release). Business Wire. January 8, 2010.
  5. ↑ "St. Mary Land & Exploration is changing its name". American City Business Journals . May 27, 2010.
  6. ↑ "SM Energy Announces Closing of Previously Announced Non-Operated Eagle Ford Carry Agreement" (Press release). Business Wire. December 5, 2011.
  7. ↑ "SM Energy Enters into Agreement to Divest Anadarko Basin Assets" (Press release). Business Wire. November 5, 2013.
  8. ↑ Harden, Mark (July 30, 2014). "SM Energy to acquire 61,000 acres in Bakken for $330 million". American City Business Journals .
  9. ↑ Harden, Mark (June 1, 2015). "SM Energy sells Oklahoma assets for $270 million". American City Business Journals .
  10. ↑ "Aethon Energy and RedBird Capital Acquire SM Energy's Ark-LA-Tex Assets" (Press release). PR Newswire. July 1, 2015.
  11. ↑ "Riverstone Holdings LLC Announces Sale of Rock Oil Holdings LLC to SM Energy Company" (Press release). PR Newswire. August 8, 2016.
  12. ↑ Zborowski, Matt (August 8, 2016). "SM Energy to buy Midland basin firm for $980 million". Oil & Gas Journal .
  13. ↑ "SM Energy Cores Up in the Midland Basin with Simultaneous Transactions" (Press release). Business Wire. October 18, 2016.
  14. ↑ "SM Energy Announces Closing The Sale Of Non-Operated Eagle Ford Assets" (Press release). PR Newswire. March 13, 2017.
  15. ↑ "SM Energy Announces Closing Of Non-Core Asset Sales And Participation In Upcoming Conferences" (Press release). PR Newswire. May 31, 2018.
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