$SM (SM Energy Company)

$SM {{ '2016-08-08T12:59:02+0000' | timeago}} • Announcement

$SM said it agreed to buy 24,783 net acres in Howard County, West Texas, expanding its Midland Basin footprint to about 46,750 net acres, for $980MM from Rock Oil Holdings. The acquired acreage position is largely contiguous and includes about 4,900 Boe per day net production and 6 MMBoe of proved developed producing reserves.

$SM {{ '2017-06-06T12:07:27+0000' | timeago}} • Announcement

Energy firm $SM has raised its production guidance by about 0.4 MMBoe, all of which is attributable to the second quarter of 2017, due to acceleration of completion activity at its core Eagle Ford program. The production guidance has been revised to 10.7-11.1 MMBoe for 2Q17 and 43.2-46.2 MMBoe for the full year.

$SM {{ '2017-05-16T12:21:15+0000' | timeago}} • Announcement

$SM has postponed indefinitely the planned sale of its Divide County, North Dakota assets as valuations in the sales process did not reach the company's threshold to meaningfully reduce its leverage.

$SM {{ '2017-03-30T12:06:34+0000' | timeago}} • Announcement

$SM BoD approved a semi-annual cash dividend of $0.05 per share. The dividend will be paid on May 3, 2017, to stockholders of record as of the close of business on April 21, 2017.

$SM {{ '2017-03-13T11:08:10+0000' | timeago}} • Announcement

$SM closed the sale of its third party operated assets in the Eagle Ford, including ownership interest in midstream assets for $800MM gross. The buyer is Venado EF L.P., an affiliate of KKR, and the effective date of the transaction is Nov. 1, 2016. $SM would apply proceeds from this divestiture towards its 2017 capital program and others purposes.

$SM {{ '2017-01-31T18:17:07+0000' | timeago}} • Announcement

$SM announced results on eight new wells located in Howard County in the Midland Basin, Texas. The company's eight wells are exceeding pre-completion estimates for productivity. In 4Q16, production was in-line with guidance, adjusted for the completion of a number of transactions that closed during the quarter.

$SM {{ '2017-01-11T13:57:52+0000' | timeago}} • Announcement

$SM has engaged Tudor, Pickering, Holt & Co. to run a formal bid process for sale of the company's Divide County area assets in the Williston Basin. Assuming an acceptable offer is received, the company expects to close the sale transaction around mid-year of 2017. Associated December 2016 production for the Divide County assets was 10,700 Boe/d.

$SM {{ '2017-01-03T12:35:22+0000' | timeago}} • Announcement

$SM agreed with a subsidiary of Venado Oil and Gas, an affiliate of KKR, for the sale of its third party operated assets in the Eagle Ford, including its ownership interest in related midstream assets, for $800MM. The transaction is expected to close in 1Q17, with an effective date of Nov. 1, 2016.

$SM {{ '2016-12-21T23:50:00+0000' | timeago}} • Announcement

$SM closed the previously announced acquisition of oil & natural gas assets in Howard and Martin Counties, Texas, from QStar LLC and a related entity for $1.6Bil, before customary purchase price adjustments. This deal was funded with the cash proceeds from the recent asset sales and the issuance to the sellers of 13.4MM shares of $SM common stock.

$SM {{ '2016-12-08T12:12:53+0000' | timeago}} • Announcement

$SM closed underwritten public offering of 10.925MM common shares, which includes full exercise by the underwriters of their option to buy additional 1.425MM common shares. Net proceeds, including as a result of option exercise, after deducting fees and estimated expenses, were about $403MM.

$SM {{ '2016-12-02T12:06:48+0000' | timeago}} • Announcement

$SM priced an upsized underwritten public offering of 9.5MM common shares for gross proceeds of about $363.4MM. $SM granted the underwriters a 30-day option to buy up to 1.425MM additional common shares. The offering is expected to close on Dec. 7, 2016.

$SM {{ '2016-12-01T22:24:30+0000' | timeago}} • Announcement

$SM commenced an underwritten public offering of 8MM shares of its common stock. $SM intends to use the net proceeds from this offering to acquire approx. 4,100 net acres of additional oil and gas assets in the Midland Basin, to reduce debt, and for general corporate purposes.

$SM {{ '2016-10-05T12:05:43+0000' | timeago}} • Announcement

$SM closed acquisition of 24,783 net acres in Howard County, Texas, from Rock Oil Holdings for $980MM. The company's borrowing base has been increased to $1.35Bil, with bank commitments of $1.25Bil, providing $SM with substantial liquidity.

$SM {{ '2016-10-03T11:58:12+0000' | timeago}} • Announcement

$SM said it has engaged Petrie Partners to explore a sale of certain leasehold assets in the Williston Basin. The assets to be sold include about 54,500 net acres, consisting of the Raven/Bear Den acreage and effectively all lease-holdings in the basin outside of the company's Divide County program.

$SM {{ '2016-09-26T11:08:56+0000' | timeago}} • Announcement

$SM's BoD approved a semi-annual cash dividend of $0.05 per common share. The dividend will be paid on Nov. 2, 2016 to stockholders of record as of Oct. 21, 2016. The company now has about 86.9MM shares of common stock outstanding.

$SM {{ '2016-09-07T13:06:07+0000' | timeago}} • Announcement

Energy company $SM said that it intends to offer $500MM in aggregate principal amount of a series of senior unsecured notes due 2026. The company intends to use the net proceeds from this offering to pay a portion of the purchase price for its recently announced acquisition of Rock Oil Holdings, and for general corporate purposes.

$SM {{ '2016-08-09T15:41:11+0000' | timeago}} • Announcement

$SM said it priced an upsized offering of $150MM aggregate principal amount of its 1.50% senior unsecured convertible notes due 2021. The offering was upsized from the previously announced offering of $100MM. $SM granted the underwriters a 30-day option to buy up to additional $22.5MM of notes. The offering will close on Aug. 12, 2016.

$SM {{ '2016-08-08T18:43:10+0000' | timeago}} • Announcement

Energy company $SM said it has commenced an underwritten public offering of 15,000,000 shares of its common stock. The company expects to grant the underwriters a 30-day option to purchase up to 2,250,000 additional shares of common stock. $SM plans to use the net proceeds to pay a portion of the purchase price for its deal with Rock Oil Holdings.

$SM {{ '2016-08-08T13:11:26+0000' | timeago}} • Announcement

$SM said it plans to use net proceeds from offering to pay portion of purchase price for its recently announced acquisition of all of the outstanding membership interests of an entity holding undeveloped leasehold interests, producing wells and associated infrastructure assets in the Midland Basin of west Texas from Rock Oil Holdings.

$SM {{ '2016-08-08T13:10:33+0000' | timeago}} • Announcement

$SM said it has began underwritten public offering of 15MM common shares. The company expects to grant the underwriters in the offering a 30-day option to purchase up to 2.25MM additional shares of common stock. Wells Fargo Securities, BofA Merrill Lynch, J.P. Morgan, Barclays, BBVA and RBC Capital Markets will act as joint book-running managers.

$SM {{ '2016-08-08T13:02:01+0000' | timeago}} • Announcement

$SM said it agreed to buy 24,783 net acres in Howard County, West Texas from Rock Oil Holdings for $980MM. The transaction is expected to close on Oct. 4, 2016, with an effective date of Sept. 1, 2016. $SM sees running 1 rig in area in 4Q16 and 2 rigs throughout 2017. $SM lifted its total capital spending estimate for 2016 by about $15-20MM.

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