SM Energy Company (NYSE: SM) announces that, as the result of its
conversations with Mercy Investments, Mercy has elected to withdraw its
stockholder resolution concerning a Climate Change Mitigation Plan
proposed to be submitted at the Company’s 2014 Annual Meeting of
Stockholders.
“We recognize the environmental and financial impacts associated with
natural gas flaring and methane emissions and actively manage these
impacts,” the Company said. The Company has agreed that it will disclose
emissions data consistent with industry best practices by early 2016,
with respect to data gathered in 2015.
“Through our environmental, health, and safety initiatives and
operational practices we work to minimize flaring of natural gas and the
broader environmental impact of our operations in North Dakota and our
other key operating areas. In addition, with respect to our development
efforts, we will strive to improve our reductions in flaring on a per
unit produced basis,” the Company said. In addition, the Company has
been working to design a corporate responsibility and sustainability
policy that will address all aspects of the Company’s broader
sustainability efforts and which is expected to result in additional
management reporting systems and public disclosures by early 2016.
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,” “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 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; the risks associated with the
Company's commodity price risk management strategy; uncertainty
regarding the ultimate impact of potentially dilutive securities; and
other such matters discussed in the “Risk Factors” section of SM
Energy's 2013 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 2014