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 (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.
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.
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