SM Energy closes Anadarko Basin divestiture package

SM Energy Co.

SM Energy Co. (NYSE: SM) has closed its previously announced Anadarko Basin divestiture package, receiving total proceeds of approximately $329 million, which will provide additional liquidity to fund the company’s 2014 capital program.

Final divestiture proceeds will be subject to post-closing adjustments, which the company expects to be completed within 120 days of closing. The effective date of the divestiture was October 1, 2013.

SM Energy is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in onshore North America.

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