SM Energy

SM Energy Company
Public company
Traded as NYSE: SM
S&P 400 component
Industry Petroleum industry
Founded 1908 (1908)
Headquarters Denver, Colorado
Key people
 Javan D. Ottoson, President & CEO
A. Wade Pursell, CFO
William D. Sullivan, Chairman
Products Petroleum
Natural gas
Natural gas liquids
Production output
 121 thousand barrels of oil equivalent (740,000 GJ) per day (2017)
Revenue Decrease $1.129 billion (2017)
Increase -$0.160 billion (2017)
Total assets Decrease $6.176 billion (2017)
Total equity Increase $2.394 billion (2017)
Number of employees
 635 (2017)
Website www.sm-energy.com
Footnotes / references
[1]

SM Energy Company, formerly St. Mary Land & Exploration Company, is an American petroleum and natural gas exploration company organized in Delaware and headquartered in Denver, Colorado.

Current operations

The company's assets are entirely onshore in North America, located in 3 regions:[1]

As of December 31, 2017, the company had 468 million barrels of oil equivalent (2.86×109 GJ) of estimated proved reserves, of which 34% was petroleum, 21% was natural gas liquids, and 45% was natural gas.[1]

Of the company's 2017 production of 121 thousand barrels of oil equivalent (740,000 GJ) per day, 31% was petroleum, 23% was natural gas liquids, and 46% 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 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 for $800 million.[14]

References

  1. 1 2 3 4 5 "SM Energy Company 2017 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.
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