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 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 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 (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 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.
SM Energy Company (NYSE: SM) will participate in the MKM Partners Virtual Conference on December 15, 2020, at 11:10 a.m. Mountain time. President and CEO Herb Vogel will present and engage in one-on-one meetings with investors. A presentation will be available on the company's website before market open on the same day. SM Energy focuses on the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs primarily in Texas. For more details, visit www.sm-energy.com.
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