SM Energy and Northern Oil and Gas partner to acquire XCL Resources' assets for $2.55bn [Yahoo! Finance]
SM Energy Company (SM)
Last sm energy company earnings: 2/19 04:15 pm
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Source: Yahoo! Finance
The deal involves Denver-based SM Energy taking an 80% interest in the assets for $2.04bn, while Northern Oil and Gas will acquire the remaining 20% for $510m. SM Energy, with operations in the Eagle Ford and Midland basins in Texas, will now add the Uinta Basin to its portfolio, a region known for producing a distinct waxy crude oil. XCL Resources, backed by EnCap Investments and Rice Investment Group, is said to produce around 55,000 barrels of oil equivalent per day. Following the deal's completion, SM Energy will operate the assets, which include approximately 37,200 net acres and represent a 14% increase in the company's core net acreage. The assets are expected to yield a daily output of 38,000 barrels of crude and offer 390 drilling locations. This acquisition will also add 107 million barrels of oil equivalent to SM Energy's preliminary proved reserves, an 18% increase in estimated net proved reserves. SM Energy intends to finance the purchase through a mix of deb
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News
- SM Energy Company (NYSE:SM) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap? [Yahoo! Finance]Yahoo! Finance
- SM Energy (SM) in Advanced Talks to Acquire XCL Resources [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
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