SM Energy Closed of Arkoma Basin Divestiture Transaction

Source: www.gulfoilandgas.com 6/1/2015, Location: North America

SM Energy Company has closed the sale of its previously announced divestiture of Arkoma Basin properties. The Company received net proceeds of approximately $270 million, subject to post-closing adjustments, which the Company expects to be completed within 120 days. The effective date of the divestiture was March 1, 2015. The Company expects the previously announced pending separate divestiture of its assets in the ArkLaTex area to close by the end of the second quarter of 2015. As previously announced, lenders under the Company’s credit agreement have agreed not to reduce the Company’s $2.4 billion borrowing base due to these divestitures. RBC Richardson Barr served as an advisor to SM Energy in these transactions.


Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


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