SM Energy sells S. Texas assets to Caturus for $950M cash; proceeds to reduce debt

SM Energy Co

Sale of ~61,000 net acres and ~260 producing wells in Webb County, TX for $950M cash.
Expected close Q2 2026; assets produce ~37-39 MBoe/d in 2026 (45% liquids, 9% oil).
Net proved reserves of ~168 MMBoe as of Dec 31, 2025; asset-level cash flows ~$160M in 2026.
Proceeds to prioritize debt reduction; CEO says updated return-of-capital program coming next week.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SM Energy Co entered into Purchase and Sale Agreement with Caturus Energy, LLC valued at $950,000,000 (effective 2026-02-17).

Action: entry
Agreement: asset purchase
Counterparty: Caturus Energy, LLC
Value: $950,000,000
Effective: 2026-02-17

Exact text from the filing

On February 17, 2026, SM Energy Company (the “Company”) entered into a Purchase and Sale Agreement (the “PSA”) with Caturus Energy, LLC, a Delaware limited liability company (“Purchaser”) and, solely for the purposes of Section 7.8 therof, Caturus Holdco, LLC, pursuant to which the Company agreed to sell all of its rights, titles and interests in certain producing and non-producing assets encompassing approximately 61,000 net acres located in the Company’s southern Maverick Basin position in Webb County, Texas (the “Assets”).

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SM Energy Co filing history →

Source: SEC EDGAR

accession 0001104659-26-017062

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