secwatch.observer — SEC 8-K summary
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Issuer:     SM Energy Co (SM)
CIK:        0000893538
Form:       8-K
Filed at:   2024-10-02T23:59:59+00:00
Accession:  0000893538-24-000130
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 9.01, 2.03, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000130/0000893538-24-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000130/sm-20241001.htm
  HTML page:      https://secwatch.observer/filing/0000893538-24-000130

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