SM Energy

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

SM Energy Company
TypePublic company
NYSE: SM
S&P 600 component
IndustryPetroleum industry
Founded1908 (1908)
HeadquartersDenver, Colorado, United States
Key people
Herb Vogel, President & CEO
A. Wade Pursell, CFO
William D. Sullivan, Chairman
ProductsPetroleum
Natural gas
Natural gas liquids
Production output
132.3 thousand barrels of oil equivalent (809,000 GJ) per day (2019)
Revenue $1.590 billion (2019)
-$0.187 billion (2019)
Total assets $6.292 billion (2019)
Total equity $2.748 billion (2019)
Number of employees
530 (2019)
Websitesm-energy.com
Footnotes / references
[1]

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 2019 production) and the Permian Basin (43% of reserves and 55% of 2019 production).

As of December 31, 2019, the company had 462 million barrels of oil equivalent (2.83×109 GJ) of estimated proved reserves, of which 40% was petroleum, 16% was natural gas liquids, and 44% 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]

References
  1. "SM Energy Company 2019 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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