SM Energy Expands Assets and Strengthens Financial Position

SM Energy ( (SM) ) has provided an update.

SM Energy Company has bolstered its asset portfolio through the acquisition of a significant stake in the Uinta Basin’s oil and gas assets, greatly enhancing its scale and future value prospects. The transaction involved a cash payment of $1.9 billion by the company, with additional financing from a recent offering of senior notes and other sources. This strategic move extends SM Energy’s maturity date on its credit agreement to 2029 and increases its borrowing capacity to $2 billion, positioning the company for robust growth in the industry.

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