SM Energy Co (SM): M&A transaction — SM Energy closes $950M South Texas asset sale; redeems $819M in 2026 notes

SM Energy Co

Closed South Texas divestiture for $950M cash; net proceeds ~$900M after adjustments.
Will redeem $419M of 6.75% Senior Notes due Sept 2026 on June 1, 2026, at par.
Will redeem $400M of 5.0% Senior Notes due Oct 2026 (assumed from Civitas) on May 11, 2026, at par.
Borrowing base and lender commitments reaffirmed at $5.0B and $2.5B after divestiture.
CEO cites progress toward $1.0B+ divestiture target and lower-leverage capital structure.

item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SM Energy Co completed a disposition involving Caturus Energy, LLC for $950 million (closed 2026-04-30).

Action: disposition
Counterparty: Caturus Energy, LLC
Consideration: $950 million
Closing: 2026-04-30

Exact text from the filing

is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. --- EX-99.1 (EX-99.1) --- News Release EXHIBIT 99.1 SM ENERGY CLOSES $950 MILLION SOUTH TEXAS DIVESTITURE; ANNOUNCES REDEMPTION OF ALL OUTSTANDING 2026 SENIOR NOTES Demonstrates strong momentum toward $1.0 billion-plus asset sale target and advances 2026

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Source: SEC EDGAR

accession 0000893538-26-000055

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