Sm Energy Stock Price, News & Analysis

SM Energy Company (NYSE: SM) has announced ambitious targets to reduce its Scope 1 and 2 emissions, reflecting its commitment to environmental stewardship. Key targets include:

• Zero routine flaring by 2023 and non-routine flaring not exceeding 1% of natural gas production.
• A 50% reduction in Scope 1 and 2 GHG emissions intensity by 2030 from a 2019 baseline.
• Maintaining a low methane emissions intensity at 0.04 metric tonnes CH4/MBoe or better.

SM Energy Company (NYSE: SM) has appointed Anita M. Powers as an independent director, effective immediately. Ms. Powers, with over 35 years of geosciences experience, will also join the Audit and Compensation Committees. Previously, she was the Executive Vice President of Worldwide Exploration at Occidental Petroleum Corporation and has served on the boards of California Resources Corporation and EQT Corporation. This appointment aims to enhance the board's expertise, particularly in the Permian Basin.

SM Energy Company (NYSE: SM) reported strong third quarter 2021 results, achieving production of 14.3 MMBoe (155.8 MBoe/d), primarily from the Midland Basin. The production mix was 56% oil, leading to net income of $85.6 million ($0.69 EPS) and a significant increase in cash flow, up 66% YoY to $307 million. Capital expenditures were stable at $180.1 million. The company raised its full-year production guidance to 49.5-50.0 MMBoe and reduced debt, achieving a net debt-to-Adjusted EBITDAX ratio of under 2 times, meeting its leverage target a year ahead of schedule.

SM Energy Company (NYSE: SM) plans to release its third quarter 2021 financial and operating results on October 28, 2021, after market close. The company will also host a Q&A session on October 29, 2021, at 8:00 a.m. MT (10:00 a.m. ET), accessible via webcast. Important updates and information will be available on the company’s website, ensuring investors stay informed ahead of the upcoming earnings report.

SM Energy Company (NYSE: SM) announced a semi-annual cash dividend of $0.01 per share, payable on November 5, 2021, to stockholders of record by the close of business on October 25, 2021. The company has approximately 121.5 million shares outstanding, reflecting its commitment to returning value to shareholders. SM Energy engages in the acquisition and production of crude oil, natural gas, and NGLs primarily in Texas.

SM Energy Company (NYSE: SM) reported strong second quarter 2021 results with production of 12.4 MMBoe, up 11% year-over-year. Capital expenditures totaled $214.2 million with continued efficiencies. Cash flow increased by 40% to $296.4 million, while adjusted EBITDAX rose 27% to $256.9 million. Despite a net loss of $223 million, driven by derivative losses, the company's balance sheet improved with significant debt redemptions. Production from new Austin Chalk wells was promising, and guidance for the remainder of 2021 includes a range of 47.5-49.5 MMBoe.

SM Energy Company (NYSE: SM) plans to release its second quarter 2021 financial results on July 29, 2021. A pre-recorded webcast discussion and presentation will be available on the Company's website. Additionally, a Q&A session with management will take place on July 30, 2021, at 8:00 a.m. Mountain time. Investors can access this information via registration for a conference call.

SM Energy Company (NYSE: SM) announced early results of its tender offer to buy back its 6.125% Senior Notes due 2022 and a portion of its 5.000% Senior Notes due 2024. The company upsized the tender cap for the 2024 Notes from $130 million to $172.27 million, reflecting valid tenders as of June 22, 2021. Consents for proposed amendments related to the 2022 Notes have been received, allowing SM Energy to eliminate certain covenants. The tender offer is set to expire on July 7, 2021, with payments for notes including accrued interest upon early settlement.