SM Energy borrowing base reaffirmed at $3.0B; commitment unchanged at $2.0B

SM Energy Co

Semi-annual borrowing base redetermination: $3.0B reaffirmed, elected commitment stays at $2.0B.
Third Amendment eliminates prior springing maturity tied to senior notes; replaces with short-term debt/availability test.
Amendment required borrowing availability >80% of commitment if unsecured debt >$50M matures within 91 days.
CFO Wade Pursell cited lender group's trust in SM's disciplined strategy and financial strength.

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