Denver, CO-based SM Energy Company, previously known as St. Mary Land & Exploration Company, is an independent oil and gas company engaged in the exploration, exploitation, development, acquisition and production of natural gas and crude oil in North America. The company was founded in 1908 and incorporated in Delaware in the year 1915.

The company’s operations are focused on the Permian Basin region and the South Texas & Gulf Coast region. SM Energy divested its Rocky Mountain assets in the first half of 2018. As of Dec 31, 2023, it had proved reserves of 604.9 million barrels of oil equivalent (MMBoe), of which 38% was crude oil, 42% natural gas and 20% NGLs. Notably, 56% of the reserves are proved developed.

The company’s 2023 net production was 55.5 MMBoe (45.3% oil) compared with the year-ago level of 53 MMBoe.

SM Energy manages its operations in the Permian Basin region from its regional office in Midland, TX. The company has approximately 111,000 net acreages in the Midland Basin, of which 85,745 acres are developed. Its Midland Basin assets are divided between RockStar and Sweetie Peck. The Midland Basin holding provides it with substantial future development opportunities in multiple oil-rich locations, such as the Spraberry and Wolfcamp formations. At the end of 2023, SM Energy had 268.5 MMBoe of proved reserves in Midland Basin. Of this, 62% were proved developed. It had 159.2 million barrels (MMBbls) of crude oil and 654.8 billion cubic feet (Bcf) of natural gas in proved reserves in the region.

SM Energy manages its South Texas & Gulf Coast region operations from its regional office in Houston, TX. This region includes approximately 155,000 net acres in the Eagle Ford, of which 89,107 acres are developed. At the end of 2023, the company had 336.4 MMBoe of proved reserves in the South Texas region. Of this, 52% were proved developed. It had 70.9 MMBbls of crude oil and 877.2 Bcf of natural gas in proved reserves in the region.