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SM Energy Announces Marketing of Anadarko Basin Assets

Source: www.gulfoilandgas.com 7/10/2013, Location: North America

SM Energy Company announces that it has engaged an advisor to market all of its properties in the Anadarko Basin, which includes the Company’s Granite Wash interests. The marketing process is anticipated to take approximately six months. Production from the assets represents slightly over 9,000 BOE per day (75% natural gas), which is approximately 8% of the Company’s total production in the first quarter of 2013.

The Company’s Anadarko Basin assets include approximately 56,000 net mineral acres. SM Energy regularly reviews its asset portfolio to identify opportunities to high grade and concentrate its inventory through divestitures such as this planned sale, the proceeds of which the Company expects to fund strategic projects in its portfolio.

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