Sm Energy Stock Price, News & Analysis

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.

SM Energy has priced an offering of $400 million in senior unsecured notes due 2028, increased from $350 million. The Notes, with a 6.500% interest rate, will close on June 23, 2021. Proceeds will fund a cash tender offer for outstanding 6.125% Senior Notes due 2022 and part of 5.00% Senior Notes due 2024. If the tender offer is unmet, proceeds will be used for general corporate purposes. The offering is managed by BofA Securities, J.P. Morgan, Wells Fargo Securities, Goldman Sachs, and RBC Capital Markets.

SM Energy Company (NYSE: SM) announced its intention to offer $350 million in senior unsecured notes due 2028. The proceeds will primarily fund a cash tender offer for its 6.125% Senior Notes due 2022 and some of its 5.00% Senior Notes due 2024. If the tender offer isn’t fully subscribed, proceeds may be used for general corporate purposes, including redemption of the tender offer notes. The offering is conducted under an effective shelf registration statement with the SEC, and details can be found in the preliminary prospectus and accompanying documents.

SM Energy Company (NYSE: SM) announced cash tender offers to purchase its outstanding 6.125% Senior Notes due 2022 and up to $130,000,000 of its 5.000% Senior Notes due 2024. The 2022 Notes total $212,403,000 while the 2024 Notes amount to $277,034,000. The Tender Offer expires on July 7, 2021, with early tender by June 22, 2021, providing holders with total consideration that includes early tender premiums for the 2022 Notes. Completion is subject to conditions, including a new debt offering. BofA Securities is the dealer manager for the offers.

SM Energy Company announced its participation in several upcoming investor conferences. An investor presentation will be available on its website before market open on June 2, 2021. Key events include:

• June 2, 2021 – Wells Fargo Energy Conference with CEO Herb Vogel.
• June 8, 2021 – RBC Capital Markets Conference featuring CFO Wade Pursell at 3:20 PM ET.
• June 9, 2021 – Stifel Virtual Conference with CEO Herb Vogel at 3:20 PM ET.
• June 10, 2021 – Bank of America Energy Credit Conference with CFO Wade Pursell at 10:15 AM ET.
• June 23, 2021 – J.P. Morgan Conference with CEO Herb Vogel at 12:10 PM ET.

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.