SM Energy (SM) in Advanced Talks to Acquire XCL Resources [Yahoo! Finance]
SM Energy Company (SM)
Last sm energy company earnings: 2/19 04:15 pm
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Source: Yahoo! Finance
The potential deal, valued at $3 billion, is expected to be announced in the coming days. XCL Resources is currently backed by EnCap Investments, a private equity firm specializing in the energy sector. The buyout aligns with a trend of mergers and acquisitions in the oil and gas industry, wherein cash-rich operators seek to expand and rejuvenate their drilling inventories. By acquiring XCL Resources, SM Energy would significantly extend its operational footprint into the Uinta Basin, an emerging oil and gas field known for producing a unique, waxy type of oil utilized in the manufacture of lubricants. Presently, SM Energy's primary operations are concentrated in the Eagle Ford and Midland Basins in Texas. The acquisition would include 45,000 net acres of XCL Resources' assets in the Uinta Basin, along with daily production rates estimated at 55,000 barrels of oil equivalent. Additionally, XCL Resources owns vital infrastructure for water transportation essential for energy pro
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SM
News
- SM Energy and Northern Oil and Gas partner to acquire XCL Resources' assets for $2.55bn [Yahoo! Finance]Yahoo! Finance
- Should Value Investors Buy SM Energy (SM) Stock? [Yahoo! Finance]Yahoo! Finance
- SM Energy (NYSE: SM) had its "overweight" rating re-affirmed by analysts at Stephens. They now have a $63.00 price target on the stock.MarketBeat
- SM, Northern Oil Partner in $2.6 Billion Utah Shale Oil Deal [Financial Post (Toronto, Ontario, Canada)]Financial Post
- SM Energy nears XCL Resources acquisition at $3bn valuation [Yahoo! Finance]Yahoo! Finance
SM
Earnings
- 5/2/24 - Beat
SM
Sec Filings
- 6/28/24 - Form 8-K
- 6/21/24 - Form 4
- 6/21/24 - Form 4
- SM's page on the SEC website