Welcome to our dedicated page for Sm Energy news (Ticker: SM), a resource for investors and traders seeking the latest updates and insights on Sm Energy stock.
SM Energy Company reports developments as an independent energy producer engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs in Colorado, New Mexico, Texas, and Utah. News commonly covers operating results, production trends, realized commodity prices, capital expenditure plans, and updates tied to its multi-basin oil and gas portfolio.
Company updates also address capital-structure actions, including senior note offerings, tender offers, debt refinancing, and assumed debt following the completed Civitas Resources merger. Recurring disclosures include integration priorities, synergy capture, shareholder voting matters, and financial outlook commentary tied to upstream oil and gas operations.
SM Energy (NYSE: SM) has scheduled the release of its second quarter 2024 financial and operating results for August 7, 2024, after market hours. The release will include an earnings report, a pre-recorded webcast discussing the results, and an associated presentation, all available on the company's website.
On August 8, 2024, at 8:00 a.m. Mountain Time/10:00 a.m. Eastern Time, SM Energy management will host a Q&A session to discuss the results. The session can be accessed via a live webcast on the company's website or by phone. For the live call, registration is required, and replay options will be available approximately one hour after the live session.
SM Energy (NYSE: SM) has priced an upsized offering of $1.5 billion in senior notes, comprising $750 million of 6.750% notes due 2029 and $750 million of 7.000% notes due 2032. The offering is expected to close on July 25, 2024. The company plans to use the proceeds, along with cash on hand and credit borrowings, to fund its pending acquisition of Uinta Basin assets from XCL Resources affiliates, redeem its outstanding 5.625% Notes due 2025, and cover related expenses. The 2029 Notes include a special mandatory redemption clause tied to the XCL Acquisition's completion. These notes are being offered only to qualified institutional buyers and non-U.S. persons, and are not registered under the Securities Act.
SM Energy Company (NYSE: SM) has announced its intention to offer $650 million in senior notes due 2029 and $650 million in senior notes due 2032, subject to market conditions. The company plans to use the net proceeds, along with cash on hand and borrowings, to fund its pending acquisition of oil and gas assets in the Uinta Basin from XCL Resources, affiliates. Additionally, SM Energy aims to redeem all outstanding 5.625% Notes due 2025 and cover related fees and expenses. The 2029 Notes include a 'special mandatory redemption' clause if the XCL Acquisition doesn't close by July 1, 2025. These notes will be offered only to qualified institutional buyers and non-U.S. persons, and will not be registered under the Securities Act of 1933.
SM Energy announced a $2.04 billion acquisition of Uinta Basin assets from XCL Resources, with SM Energy obtaining 80% interest. This acquisition aims to enhance SM Energy's portfolio by adding 37,200 net acres, boosting production by 43 MBoed, and extending inventory life by two years. The deal is expected to be immediately accretive, increasing the 2025E Adjusted EBITDAX by 35% and Adjusted Free Cash Flow by 45%. Funding will be through debt and cash. Additionally, SM Energy will increase its fixed dividend by 11% and initiate a new $500 million share repurchase program. Closing is anticipated in September 2024.
SM Energy Company (NYSE: SM) has declared a quarterly cash dividend of $0.18 per share of common stock. This dividend will be distributed on August 5, 2024, to shareholders who are on record as of July 19, 2024. The decision was approved by the company's Board of Directors, reflecting the company's commitment to delivering value to its shareholders.
On June 10, 2024, SM Energy Company (NYSE: SM) announced its participation in the J.P. Morgan Energy, Power and Renewables Conference on June 18, 2024. President and CEO Herb Vogel will present at 10:55 a.m. Eastern time and engage in one-on-one meetings with investors. An investor presentation will be available on the company's website before market open on June 18, 2024. The event will be webcast live and available for later replay via the company's website.
SM Energy Company reported strong first quarter 2024 results with net production exceeding guidance, increased full year production guidance, and lowered capital expenditures guidance. The Company also expanded its South Texas acreage and achieved noteworthy early results in the high-liquids area. Financially, SM Energy saw a net income of $131.2 million, returned capital to shareholders, and maintained low leverage. Adjusted free cash flow increased by 35% compared to the previous year. The Company received an A- score for Supplier Engagement from the CDP, placing it among the top 5% of companies in its peer group. President and CEO Herb Vogel highlighted the strong operational performance and focus on long-term value creation.
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