SM Energy (SM) to Acquire Acres in Midland Basin for $1.1B Plus 13.4M Shares of Common Stock
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SM Energy Cores Up in the Midland Basin with Simultaneous Transactions
October 18, 2016 6:55 AM EDT- $1.6B Howard/Martin County Acquisition
- $0.8B Williston Basin Divestiture
DENVER--(BUSINESS WIRE)-- SM Energy Company (NYSE: SM) today announced that it has entered into a definitive purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas, expanding the Companys Midland Basin footprint to approximately 82,450 net acres. The acquired acreage complements, and is partially contiguous to, the Companys recently closed Howard County acreage acquisition and includes approximately 2,400 Boe per day net production. The purchase price is $1.1 billion cash,... More
