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SM Energy
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] HistoryThe 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
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Information related to SM Energy |
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