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 (77% of reserves and 74% of 2016 production) - assets in the Eagle Ford
- Permian Basin Region (14% of reserves and 7% of 2016 production).
- Rocky Mountain Region (9% of reserves and 19% of 2016 production) - assets in the Three Forks Shale, Bakken Formation and Powder River Basin
As of December 31, 2016, the company had 395.8 million barrels of oil equivalent (2.421×109 GJ) of estimated proved reserves, of which 27% was petroleum, 27% was natural gas liquids, and 47% was natural gas.
Of the company's 2016 production of 175.9 thousand barrels of oil equivalent (1,076,000 GJ) per day, 30% was petroleum, 26% was natural gas liquids, and 44% 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 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.
Source of the article : Wikipedia
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