---
schema_version: "secwatch.filing_event.v1"
accession: "0000893538-24-000130"
form_type: "8-K"
ticker: "SM"
cik: "0000893538"
company_name: "SM Energy Co"
filed_at: "2024-10-02T23:59:59+00:00"
generated_at: "2026-05-30T22:55:10.428044+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SM Energy closes $2.1B Uinta Basin acquisition of 80% interest in XCL Resources assets

## Summary
- Net purchase price of $2.1B for 80% undivided interest; $1.9B cash paid at closing on Oct 1, 2024.
- Acquisition adds ~63,300 net acres, 110 MMBoe proved reserves, and 86-87% oil content production.
- Credit facility amended: commitments increased from $1.25B to $2.0B, maturity extended to Oct 2029.
- Funding from $1.5B senior notes issued July 2024, plus cash on hand and credit facility borrowings.
- Initial estimate of 465 net drilling locations normalized to 10,000-foot laterals with high well economics.

## SEC filing metadata
- accession: 0000893538-24-000130
- form_type: 8-K
- ticker: SM
- cik: 0000893538
- company_name: SM Energy Co
- filed_at: 2024-10-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 9.01, 2.03, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/893538/000089353824000130/0000893538-24-000130-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/893538/000089353824000130/sm-20241001.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000893538-24-000130
- JSON: https://secwatch.observer/filing/0000893538-24-000130.json
- Plain text: https://secwatch.observer/filing/0000893538-24-000130.txt

## Key facts
- M&A Transactions
  SM Energy Co completed an acquisition involving XCL AssetCo, LLC, XCL Marketing, LLC, Wasatch Water Logistics, LLC, XCL Resources LLC, XCL SandCo, LLC for Total cash consideration of approximately $2.4 billion was paid to the XCL Sellers at the closing (inclusive of the Company’s exercise of its option to acquire (closed 2024-10-01).
  - Action: acquisition
  - Counterparty: XCL AssetCo, LLC, XCL Marketing, LLC, Wasatch Water Logistics, LLC, XCL Resources LLC, XCL SandCo, LLC
  - Consideration: Total cash consideration of approximately $2.4 billion was paid to the XCL Sellers at the closing (inclusive of the Company’s exercise of its option to acquire
  - Closing: 2024-10-01
  source text: 20% interest in the XCL Acquisition Agreement to NOG; and (ii) the Company, NOG and the XCL Sellers consummated the XCL Acquisition. Total cash consideration of approximately $2.4 billion was paid to the XCL Sellers at the closing (inclusive of the Company’s exercise of its option to acquire certain additional Uinta Basin assets of an adjacent operator), with
  evidence_url: https://www.sec.gov/Archives/edgar/data/893538/000089353824000130/0000893538-24-000130-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.