SM Energy (SM)
Posted: Sat Jul 13, 2013 11:05 am
This sale will draw some large bids. SM already has a strong balance sheet and this sale will make it even stronger. SM will use the money to accelerate its Eagle Ford development drilling. The Eagle Ford has better economics and will add a lot more oil reserves. An updated forecast model for SM has been posted under the Sweet 16 Tab. This is one of my favorites in our Sweet 16 Growth Portfolio. - Dan
July 10: SM Energy Company (SM) announces today that it has engaged an advisor to market all of its properties in the Anadarko Basin, which includes the Company’s Granite Wash interests. The marketing process is anticipated to take approximately six months. Production from the assets represents slightly over 9,000 BOE per day (75% natural gas), which is approximately 8% of the Company’s total production in the first quarter of 2013. The Company’s Anadarko Basin assets include approximately 56,000 net mineral acres. SM Energy regularly reviews its asset portfolio to identify opportunities to high grade and concentrate its inventory through divestitures such as this planned sale, the proceeds of which the Company expects to fund strategic projects in its portfolio.
ABOUT THE COMPANY
SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in onshore North America. SM Energy routinely posts important information about the Company on its website. For more information about SM Energy, please visit its website at www.sm-energy.com.
July 10: SM Energy Company (SM) announces today that it has engaged an advisor to market all of its properties in the Anadarko Basin, which includes the Company’s Granite Wash interests. The marketing process is anticipated to take approximately six months. Production from the assets represents slightly over 9,000 BOE per day (75% natural gas), which is approximately 8% of the Company’s total production in the first quarter of 2013. The Company’s Anadarko Basin assets include approximately 56,000 net mineral acres. SM Energy regularly reviews its asset portfolio to identify opportunities to high grade and concentrate its inventory through divestitures such as this planned sale, the proceeds of which the Company expects to fund strategic projects in its portfolio.
ABOUT THE COMPANY
SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in onshore North America. SM Energy routinely posts important information about the Company on its website. For more information about SM Energy, please visit its website at www.sm-energy.com.