Company Research Report: SM Energy Company

Company Overview

• Name: SM Energy Company

• Mission: Sustainably growing value for all stakeholders as a premier operator of top-tier assets.

• Founded: 1908

• Key People: No information is available

• Headquarters: 1700 Lincoln Street, Suite 3200, Denver, CO 80203

• Number of Employees: 544 (as of February 8, 2024)

• Revenue: No information is available

• Known For: Independent oil and gas exploration and production company with operations in the Midland Basin (West Texas), Maverick Basin (South Texas), and Uinta Basin (northeast Utah).

Purpose, Vision, and Strategy

• Purpose: To make people’s lives better by responsibly producing energy supplies, contributing to domestic energy security and prosperity, and positively impacting the communities where we live and work.

• Vision: To sustainably grow value for all stakeholders by maintaining and optimizing a high-quality asset portfolio, generating cash flows, and maintaining a strong balance sheet.

• Strategy: Focus on being a premier operator of top-tier oil and natural gas assets by prioritizing safety, technological innovation, and stewardship of natural resources.

Products

Operations Overview

SM Energy is engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs in Texas and Utah.

• Products Offered:

• Crude Oil

• Natural Gas

• Natural Gas Liquids (NGLs)

• High-level Description:

• SM Energy focuses on high-quality, lower 48 oil and natural gas producing assets, pursuing top-tier economic drilling, completion, and production opportunities.

• Operations are geared towards maximizing and expanding the value of assets through the application of latest technologies and operational excellence.

• Key Features:

• Midland Basin, Texas: ~111,000 net acres

• South Texas: ~155,000 net acres

• Uinta Basin, Utah: ~63,300 net acres

• Average Daily Net Production: 152MBoe/d

Additional Information

• SM Energy has around 1,323 net producing wells as of year-end 2023.

• Total estimated proved reserves at year-end 2023 are ~605 MMBoe (38% oil, 42% natural gas, 20% NGLs).

Recent Developments

News and Presentations

• October 21, 2024: Published updated sustainability disclosures reflecting performance in safety, stewardship, and employee engagement, as part of their Environmental, Social, and Governance (ESG) efforts.

• October 9, 2024: Scheduled the third quarter 2024 earnings release and call.

New Products and Features

• No information is available on new products and features launched.

Partnerships

• No information is available on new partnerships.

Sustainability and Corporate Stewardship

• Sustainability Initiatives:

• Commitment to superior safety performance with low TRIR, LTIR, and DART rates for SM Energy and contractors.

• Achieving 2023 emissions targets for GHG, methane intensity, and flaring, aligning with 2030 goals.

• Improved water metrics through increased recycling of produced water and reduction of freshwater intensity.

• Strong employee engagement, with high scores in surveys focused on health, safety, and trust in leadership.

Contact Information

• Address: 1700 Lincoln Street, Suite 3200, Denver, CO 80203

• Phone: (303) 861-8140

• Website: [www.sm-energy.com](http://www.sm-energy.com)

Summary

SM Energy Company, founded in 1908, is an independent energy company headquartered in Denver, Colorado. It is known for its principled approach to business ethics and sustainable operations in the oil and gas sector, specifically focusing on high-quality assets in the Midland and Maverick Basin in Texas, and the Uinta Basin in Utah. The company is continually striving for operational excellence and sustainable growth, backed by comprehensive employee engagement and leadership development strategies.