SM Energy Announces Public Offering of Common Stock
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KeyBanc Upgrades SM Energy (SM) to Overweight
August 10, 2016 7:26 AM EDTKeyBanc upgraded SM Energy (NYSE: SM) from Sector Weight to Overweight with a price target of $40. The company recently announced an agreement to acquire assets in the Permian.
"We are upgrading shares of SM following a rather transformative expansion in... More
SM Energy (SM) Prices Larger 16M Share Common Stock Offering for Proceeds of $480M
August 9, 2016 5:52 AM EDTSM Energy Company (NYSE: SM) announced that it priced an upsized underwritten public offering of 16,000,000 shares of common stock for gross proceeds of approximately $480 million. The offering was upsized from the previously announced offering of 15,000,000 shares of common stock. SM Energy also granted the underwriters a 30-day option to purchase up to 2,400,000 additional shares of common stock. The offering is expected... More
SM Energy (SM) to Acquire $980M Worth of West Texas Acreage
August 8, 2016 6:53 AM EDTSM Energy Company (NYSE: SM) announced that it has entered into a definitive purchase agreement to acquire 24,783 net acres in Howard County, West Texas, expanding the Companys Midland Basin footprint to approximately 46,750 net acres. The acquired acreage position is largely contiguous and includes approximately 4,900 Boe per day net production (with two new wells coming on-line August 2016) and 6 MMBoe of proved developed producing reserves. The purchase price is $980 million and the seller is Rock Oil Holdings LLC.
President and Chief Executive Officer Jay Ottoson... More
