SM Energy
Type | Public company |
---|---|
NYSE: SM S&P 600 component | |
Industry | Petroleum industry |
Founded | 1908 |
Headquarters | Denver, Colorado, United States |
Key people | Herb Vogel, President & CEO A. Wade Pursell, CFO William D. Sullivan, Chairman |
Products | Petroleum Natural gas Natural gas liquids |
Production output | 126.9 thousand barrels of oil equivalent (776,000 GJ) per day (2020) |
Revenue | $1.126 billion (2020) |
-$764 million (2020) | |
Total assets | $4.976 billion (2020) |
Total equity | $2.016 billion (2020) |
Number of employees | 503 (2020) |
Website | sm-energy |
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 2020 production) and the Permian Basin (43% of reserves and 55% of 2020 production).
As of December 31, 2020, the company had 404.6 million barrels of oil equivalent (2.475×109 GJ) of estimated proved reserves, of which 40% was petroleum, 16% was natural gas liquids, and 44% 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 Group 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 Group for $800 million.[14]
In 2018, the company sold its assets in the Williston Basin.[15]
References[]
- ^ a b c "SM Energy Company 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "St. Mary Announces Property Sales and New Senior Vice President" (Press release). Business Wire. December 2, 2003.
- ^ "Abraxas Announces Closing of St. Mary Land & Exploration Property Acquisition" (Press release). Business Wire. January 31, 2008.
- ^ "St. Mary Updates Status of Rocky Mountain Divestiture Program" (Press release). Business Wire. January 8, 2010.
- ^ "St. Mary Land & Exploration is changing its name". American City Business Journals. May 27, 2010.
- ^ "SM Energy Announces Closing of Previously Announced Non-Operated Eagle Ford Carry Agreement" (Press release). Business Wire. December 5, 2011.
- ^ "SM Energy Enters into Agreement to Divest Anadarko Basin Assets" (Press release). Business Wire. November 5, 2013.
- ^ Harden, Mark (July 30, 2014). "SM Energy to acquire 61,000 acres in Bakken for $330 million". American City Business Journals.
- ^ Harden, Mark (June 1, 2015). "SM Energy sells Oklahoma assets for $270 million". American City Business Journals.
- ^ "Aethon Energy and RedBird Capital Acquire SM Energy's Ark-LA-Tex Assets" (Press release). PR Newswire. July 1, 2015.
- ^ "Riverstone Holdings LLC Announces Sale of Rock Oil Holdings LLC to SM Energy Company" (Press release). PR Newswire. August 8, 2016.
- ^ Zborowski, Matt (August 8, 2016). "SM Energy to buy Midland basin firm for $980 million". Oil & Gas Journal.
- ^ "SM Energy Cores Up in the Midland Basin with Simultaneous Transactions" (Press release). Business Wire. October 18, 2016.
- ^ "SM Energy Announces Closing The Sale Of Non-Operated Eagle Ford Assets" (Press release). PR Newswire. March 13, 2017.
- ^ "SM Energy Announces Closing Of Non-Core Asset Sales And Participation In Upcoming Conferences" (Press release). PR Newswire. May 31, 2018.
External links[]
- Business data for SM Energy Company:
- American companies established in 1908
- Companies based in Denver
- Companies listed on the New York Stock Exchange
- Energy companies established in 1908
- Natural gas companies of the United States
- Non-renewable resource companies established in 1908
- Oil companies of the United States