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 .