SM Energy Company, formerly St. Mary Land & Exploration Company, is a petroleum and natural gas exploration company headquartered in Denver, Colorado.
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Current operations
The company's assets are entirely onshore in North America, located in 3 regions:
- South Texas & Gulf Coast Region (47% of reserves and 75% of 2015 production) - assets in the Eagle Ford
- Rocky Mountain Region (45% of reserves and 18% of 2015 production) - assets in the Three Forks Shale, Bakken Formation and Powder River Basin
- Permian Basin Region (8% of reserves and 4% of 2015 production).
As of December 31, 2015, the company had 471.3 million barrels of oil equivalent (2.883×109 GJ) of estimated proved reserves, of which 31% was petroleum, 24% was natural gas liquids, and 45% was natural gas.
Of the company's 2015 production of 175.9 thousand barrels of oil equivalent (1,076,000 GJ) per day, 30% was petroleum, 25% was natural gas liquids, and 45% was natural gas.
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Development
The company was founded in 1908 and incorporated in 1915. The company became a public company via an initial public offering in December 1992.
In 2011, the company sold a partial interest in its holdings in the Eagle Ford to Mitsui & Co..
In 2013, the company sold its assets in the Anadarko Basin for $329 million.
In 2014, the company acquired 66,000 acres in the Bakken Formation for $330 million.
In 2015, the company sold its ArkLaTex assets to Aethon Energy and RedBird Capital.
On October18, 2016, SM Energy Company (NYSE: SM) today announced simultaneous transactions (1) that it has entered into a definitive purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas, expanding the Company's Midland Basin footprint to approximately 82,450 net acres,(2) that it has entered into a definitive agreement for the sale of its Williston Basin assets located outside of Divide County for $785 million, subject to customary purchase price adjustments. The purchaser is Oasis Petroleum Inc.
Source of the article : Wikipedia
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