SM Energy Company (NYSE: SM) announces today that it has engaged an
advisor to market all of its properties in the Anadarko Basin, which
includes the Company’s Granite Wash interests. The marketing process is
anticipated to take approximately six months. Production from the assets
represents slightly over 9,000 BOE per day (75% natural gas), which is
approximately 8% of the Company’s total production in the first quarter
of 2013. The Company’s Anadarko Basin assets include approximately
56,000 net mineral acres. SM Energy regularly reviews its asset
portfolio to identify opportunities to high grade and concentrate its
inventory through divestitures such as this planned sale, the proceeds
of which the Company expects to fund strategic projects in its portfolio.
ABOUT THE COMPANY
SM Energy Company is an independent energy company engaged in the
acquisition, exploration, development, and production of crude oil,
natural gas, and natural gas liquids in onshore North America. SM Energy
routinely posts important information about the Company on its website.
For more information about SM Energy, please visit its website at www.sm-energy.com.
INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the
meaning of securities laws, including forecasts and projections. The
words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,”
“forecast,” “intend,” “market,” “plan,” “project,” “will” and similar
expressions are intended to identify forward-looking statements. These
statements involve known and unknown risks, which may cause SM Energy's
actual results to differ materially from results expressed or implied by
the forward-looking statements. These risks include factors such as the
availability, proximity and capacity of gathering, processing and
transportation facilities; the uncertainty of marketing efforts and
negotiations to result in an agreement or a completed transaction; the
uncertain nature of announced acquisition, divestiture, joint venture,
farm down or similar efforts and the ability to complete any such
transactions; the uncertain nature of expected benefits from the actual
or expected acquisition, divestiture, joint venture, farm down or
similar efforts; the volatility and level of oil, natural gas, and
natural gas liquids prices; uncertainties inherent in projecting future
rates of production from drilling activities and acquisitions; the
imprecise nature of estimating oil and gas reserves; the availability of
additional economically attractive exploration, development, and
acquisition opportunities for future growth and any necessary
financings; unexpected drilling conditions and results; unsuccessful
exploration and development drilling results; the availability of
drilling, completion, and operating equipment and services; and other
such matters discussed in the “Risk Factors” section of SM Energy's 2012
Annual Report on Form 10-K. The forward-looking statements contained
herein speak as of the date of this announcement. Although SM Energy may
from time to time voluntarily update its prior forward-looking
statements, it disclaims any commitment to do so except as required by
securities laws.
Copyright Business Wire 2013