SM Energy

SM Energy Company
Company typePublic company
NYSE: SM
S&P 600 component
IndustryPetroleum industry
Founded1908; 117 years ago (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
140.7 thousand barrels of oil equivalent (861,000 GJ) per day (2021)
RevenueIncrease $2.622 billion (2021)
Increase $36 million (2021)
Total assetsIncrease $5.233 billion (2021)
Total equityIncrease $2.063 billion (2021)
Number of employees
506 (2021)
Websitesm-energy.com
Footnotes / references
[1]

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

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 2021 production) and the Permian Basin (43% of reserves and 55% of 2021 production).

As of December 31, 2021, the company had 492.0 million barrels of oil equivalent (3.010×109 GJ) of estimated proved reserves, of which 41% was petroleum, 17% was natural gas liquids, and 42% was natural gas.[1]

The company is on the Forbes Global 2000 list, ranked 1973 in 2023.[2]

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.[3]

In 2008, the company sold assets to Abraxas Petroleum Corporation for $131.6 million.[4]

In January 2010, the company sold assets in the Rocky Mountains for $267 million.[5]

In May 2010, the company changed its name from St. Mary Land & Exploration Company to SM Energy.[6]

In 2011, the company sold a partial interest in its holdings in the Eagle Ford Group to Mitsui & Co.[7]

In 2013, the company sold its assets in the Anadarko Basin for $329 million.[8]

In 2014, the company acquired 66,000 acres in the Bakken Formation for $330 million.[9]

In June 2015, the company sold its assets in the Arkoma Basin of Oklahoma for $270 million.[10]

In July 2015, the company sold its 76,300 net acres of Ark-La-Tex assets to Aethon Energy and RedBird Capital.[11]

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.[12] [13]

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.[14]

In 2017, the company sold assets in the Eagle Ford Group for $800 million.[15]

In 2018, the company sold its assets in the Williston Basin.[16]

In 2022, SM Energy Co ranked 2nd out of 43 publicly traded oil and gas producer companies in the US and Canada in terms of ESG as measured by Rystad Energy.[17]

References

  1. ^ a b c "SM Energy Company 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "The Global 2000 2023". Forbes. Archived from the original on 2024-01-29. Retrieved 2024-02-07.
  3. ^ "St. Mary Announces Property Sales and New Senior Vice President" (Press release). Business Wire. December 2, 2003.
  4. ^ "Abraxas Announces Closing of St. Mary Land & Exploration Property Acquisition" (Press release). Business Wire. January 31, 2008.
  5. ^ "St. Mary Updates Status of Rocky Mountain Divestiture Program" (Press release). Business Wire. January 8, 2010.
  6. ^ "St. Mary Land & Exploration is changing its name". American City Business Journals. May 27, 2010.
  7. ^ "SM Energy Announces Closing of Previously Announced Non-Operated Eagle Ford Carry Agreement" (Press release). Business Wire. December 5, 2011.
  8. ^ "SM Energy Enters into Agreement to Divest Anadarko Basin Assets" (Press release). Business Wire. November 5, 2013.
  9. ^ Harden, Mark (July 30, 2014). "SM Energy to acquire 61,000 acres in Bakken for $330 million". American City Business Journals.
  10. ^ Harden, Mark (June 1, 2015). "SM Energy sells Oklahoma assets for $270 million". American City Business Journals.
  11. ^ "Aethon Energy and RedBird Capital Acquire SM Energy's Ark-LA-Tex Assets" (Press release). PR Newswire. July 1, 2015.
  12. ^ "Riverstone Holdings LLC Announces Sale of Rock Oil Holdings LLC to SM Energy Company" (Press release). PR Newswire. August 8, 2016.
  13. ^ Zborowski, Matt (August 8, 2016). "SM Energy to buy Midland basin firm for $980 million". Oil & Gas Journal.
  14. ^ "SM Energy Cores Up in the Midland Basin with Simultaneous Transactions" (Press release). Business Wire. October 18, 2016.
  15. ^ "SM Energy Announces Closing The Sale Of Non-Operated Eagle Ford Assets" (Press release). PR Newswire. March 13, 2017.
  16. ^ "SM Energy Announces Closing Of Non-Core Asset Sales And Participation In Upcoming Conferences" (Press release). PR Newswire. May 31, 2018.
  17. ^ "Report Claims ESG-focused US Shale Producers Perform Better over Time". HartEnergy. Archived from the original on 2022-07-08. Retrieved 2024-03-25.
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