SM Energy closes Arkoma Basin divestiture transaction

SM Energy Co. (NYSE: SM) has closed the sale of its divestiture of Arkoma Basin properties. The company received net proceeds of approximately $270 million, which SM Energy expects to be completed within 120 days.

The effective date of the divestiture was March 1. The company expects the pending separate divestiture of its assets in the ArkLaTex area to close by the end of the second quarter of 2015. 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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...