Welcome to our dedicated page for SM Energy Company news (Ticker: SM), a resource for investors and traders seeking the latest updates and insights on SM Energy Company stock.
SM Energy Company, trading under the symbol SM on the New York Stock Exchange, is an independent energy company that engages in the acquisition, exploration, development, and production of natural gas and crude oil across the United States. Founded in 1908 and incorporated in 1915, SM Energy went public in 1992. The company's operations are primarily focused on four core regions: the Mid-Continent, Rocky Mountains, Permian Basin, and Gulf Coast, managed from regional offices located in Tulsa, Oklahoma; Billings, Montana; Midland, Texas; and Houston, Texas, respectively. Each office is staffed with highly experienced geologists, geophysicists, engineers, and landmen who bring extensive regional expertise.
Headquartered in Denver, Colorado, SM Energy provides centralized financial and administrative support to its regional operations. The company places a strong emphasis on responsible operations, prioritizing safety and environmental stewardship. Recently, SM Energy has enhanced its environmental, social, and governance (ESG) efforts, publishing updated materials that underscore its commitment to sustainability.
SM Energy's core business involves active participation in joint ventures, prospects/leaseholds, and drill-to-earn opportunities. The majority of its revenue is derived from some of the United States' premier drilling locations. The company's portfolio includes significant interests obtained through oil and gas leases from third parties. Key achievements include increasing production guidance for 2023, lowering capital expenditure guidance, and returning substantial capital to stockholders.
Financially, SM Energy reported net income of $149.9 million for Q2 2023, with a net debt-to-Adjusted EBITDAX ratio of 0.7 times as of mid-2023. The company continues to focus on operational efficiency, ESG stewardship, and maintaining a robust balance sheet. For more information, visit SM Energy's website.
- Latest News:
- April 18, 2024: Announced Q1 2024 financial results, highlighting strong operational execution and increased returns to stockholders.
- February 21, 2024: Reported excellent financial results for Q4 2023, with significant growth in net proved reserves and reduced net debt.
- November 2, 2023: Released Q3 2023 financial results, noting increased capital returns and improved well performance.
SM Energy Company reported its operating and financial results for Q1 2021, highlighting a net cash flow from operating activities of $157.1 million and adjusted EBITDAX of $215.0 million. Production totaled 10.05 MMBoe, a 19% decrease year-over-year, influenced by severe winter storms in Texas. The company faced a net loss of $251.3 million or $2.19 per share, partially due to a $344.7 million net derivative loss. Despite challenges, SM Energy maintains its full-year guidance for production and capital expenditures at $230-240 million for Q2 2021.
SM Energy Company (NYSE: SM) announced an earnings release for Q1 2021, scheduled for April 29, 2021, after market close. A Q&A session will follow on April 30, 2021, at 8:00 a.m. MT, accessible via webcast. The earnings release, along with a pre-recorded discussion and presentation, will be available on the company's website. Investors can register for the live call via a designated link for dial-in details. For more information, visit www.sm-energy.com.
SM Energy Company (NYSE: SM) has declared a semi-annual cash dividend of $0.01 per share, scheduled for payment on May 7, 2021. Stockholders of record as of the close of business on April 23, 2021 will be eligible to receive this dividend. The company has approximately 114.7 million shares of common stock outstanding. This move highlights SM Energy's commitment to returning value to its shareholders amidst its operations in the exploration and production of crude oil and natural gas in Texas.
SM Energy Company (NYSE: SM) reported its fourth-quarter and full-year 2020 results, highlighting a net cash flow of $790.9 million, a free cash flow of $239.5 million, and a significant debt reduction of $492 million. Despite challenges, the company achieved production of 46.4 MMBoe for the year, although down 4% from 2019. The year-end proved reserves were 405 MMBoe, representing a 9-year reserve life. For 2021, the company anticipates generating $100 million in free cash flow while maintaining an optimal activity level for future growth.
SM Energy Company (NYSE: SM) will participate in the MKM Partners Virtual Conference on December 15, 2020, at 11:10 a.m. Mountain time. President and CEO Herb Vogel will present and engage in one-on-one meetings with investors. A presentation will be available on the company's website before market open on the same day. SM Energy focuses on the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs primarily in Texas. For more details, visit www.sm-energy.com.
SM Energy Company (NYSE: SM) announced a reaffirmation of its borrowing base at $1.1 billion, providing $880 million in liquidity as of September 30, 2020. The company has entered an agreement with a third party to fund the majority of completion costs for six wells in South Texas, reducing its fourth quarter capital expenditure guidance by approximately $15 million. Additionally, the extension of the second-lien debt capacity, totaling around $380 million, is effective until the spring 2021 redetermination.
SM Energy Company announced the retirement of CEO Javan (Jay) D. Ottoson, effective November 2, 2020. Herbert S. Vogel, currently President and COO, will succeed him as the new CEO. The Board of Directors has expanded from nine to ten members, appointing Vogel to fill the new seat. Chairman William Sullivan expressed confidence in Vogel's leadership for a sustainable future. The transition aims to continue the successful repositioning of the company’s portfolio, reinforcing stakeholder value creation while maintaining operational integrity.
SM Energy Company (NYSE: SM) reported its third-quarter 2020 results, emphasizing financial discipline and operational efficiency. Capital expenditures were $121.1 million, reflecting a 27% reduction from original guidance. The company generated $184.8 million in net cash from operations, leading to free cash flow of $63.7 million. However, net loss reached $98.3 million, considerably down from a profit of $42.2 million in Q3 2019. The company reduced long-term debt by $106.5 million and adjusted EBITDAX totaled $232.5 million, a 10% decline year-over-year.
SM Energy Company (NYSE: SM) announced the schedule for its third quarter 2020 financial results. The earnings release is set for October 29, 2020, after market close, and will be followed by a Q&A session on October 30, 2020 at 8:00 a.m. Mountain time. Investors can access the earnings release, a webcast discussion, and an associated presentation on the company's website. The call replay will be available until November 6, 2020.
For more information, visit www.sm-energy.com.
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