SM Energy and NOG finalise $2.55bn acquisition of Uinta Basin assets [Yahoo! Finance]
SM Energy Company (SM)
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Source: Yahoo! Finance
gas assets in the Uinta Basin from XCL Resources in a transaction valued at $2.55bn. The deal, which was initially announced in June, involves Denver-based SM Energy acquiring an 80% interest for $2.04bn, while NOG retains the remaining 20% for $510m. This acquisition marks SM Energy's expansion into the Uinta Basin, a region known for its unique waxy crude oil. SM Energy will now operate most of the acquired assets, which comprise approximately 63,300 net acres, an estimated 465 net drilling locations normalised to 10,000ft laterals and high oil content production of around 86–87%. The company has also reported estimated net proved reserves of approximately 110 million barrels of oil equivalent as of the effective date. For NOG, the acquisition provides it with a presence in the Uinta Basin, adding around 15,800 net acres with approximately 116 net underwritten undeveloped locations, along with the potential for further exploration. The transaction also includes cooperati
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News
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- SM Energy (NYSE: SM) had its price target lowered by analysts at Susquehanna from $48.00 to $46.00. They now have a "neutral" rating on the stock.MarketBeat
- SM Energy Third Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
- SM Energy (NYSE: SM) had its price target raised by analysts at Stephens from $56.00 to $57.00. They now have an "overweight" rating on the stock.MarketBeat
SM
Earnings
- 10/31/24 - Beat
SM
Sec Filings
- 11/20/24 - Form 4
- 11/8/24 - Form SC
- 11/1/24 - Form 10-Q
- SM's page on the SEC website