| SM Energy Company | |
| Type: | Public company |
| Traded As: | S&P 600 component |
| Hq Location: | Denver, Colorado, United States |
| Key People: | Herb Vogel, President & CEO A. Wade Pursell, CFO William D. Sullivan, Chairman |
| Industry: | Petroleum industry |
| Production: | 140.7e3BOE per day (2021) |
| Revenue: | $2.622 billion (2021) |
| Net Income: | $36 million (2021) |
| Assets: | $5.233 billion (2021) |
| Equity: | $2.063 billion (2021) |
| Num Employees: | 506 (2021) |
| Footnotes: | [1] |
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 492e6BOE 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]
The 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]