SM Energy to Sell South Texas Assets to Caturus Energy for $950 Million

SM Energy to sell South Texas assets to Caturus Energy for $950 million

(World Oil) – SM Energy has entered into an agreement to sell certain South Texas assets to Caturus Energy (formerly Kimmeridge Texas Gas) for $950 million in cash, advancing the company’s effort to streamline its portfolio and reduce debt. The transaction includes approximately 61,000 net acres and about 260 producing wells in SM Energy’s southern Maverick basin position in Webb County, Texas, along with associated facilities. The assets are ex…

Caturus to Acquire SM Energy’s Galvan Ranch Assets in South Texas

Caturus today announced it has entered into a definitive agreement with SM Energy Company to acquire SM’s Galvan Ranch assets. The acquisition includes approximately 60,000 high‑quality net acres in South Texas and ~250 MMcfe/d of production from 260 producing wells, with total proforma net production of ~950 MMcfe/d at the time of closing. Caturus continues its growth trajectory towards becoming one of the largest independent natural gas produc…

SM Energy to Sell Some Texas Assets for $950 Million - Energy News, Top Headlines, Commentaries, Features & Events

SM Energy said on Wednesday it would sell select assets in South Texas to Caturus Energy for $950 million in cash to reduce debt and bolster its capital structure. The U.S.-based oil and gas producer has agreed to sell nearly 61,000 net acres and about 260 producing wells in its southern Maverick Basin position in ...