1 June 2026material agreement termination▲ GoodMajor
SM Energy redeemed in full its remaining $419.2 million of 6.75% Senior Notes due 2026, completing the payoff of all 2026-maturity debt flagged in its April deleveraging announcement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 May 2026material agreement termination▲ Good
SM Energy redeemed in full the $400 million of 5.0% Senior Notes due 2026 it had assumed from Civitas (originally issued by Bonanza Creek Energy), retiring that debt.
30 Apr 2026asset acquisition disposition▲ GoodMajor
SM Energy closed its $950 million South Texas (Maverick Basin) divestiture to Caturus Energy and announced it would redeem all $819 million of its outstanding 2026 notes, including notes assumed from Civitas, advancing its post-merger deleveraging plan.
9 Mar 2026debt financing● NeutralMajor
SM Energy sold $1.0 billion of new 6.625% Senior Notes due 2034 as part of financing its post-Civitas-merger capital structure.
18 Feb 2026material agreement▲ GoodMajor
SM Energy agreed to sell about 61,000 net acres of its southern Maverick Basin (Webb County, Texas) position to Caturus Energy for $950 million cash, part of a post-merger push to reduce debt.
9 Feb 2026auditor change● Neutral
Following the Civitas merger, SM Energy's audit committee dismissed Ernst & Young and appointed Deloitte & Touche as its independent accountant for fiscal 2026, effective once EY completes its 2025 audit; no disagreements were reported.
30 Jan 2026business combination▲ GoodMajor
SM Energy completed its merger with Civitas Resources after both companies' stockholders approved the deal, with Civitas becoming part of SM Energy; the combined company's credit agreement was amended to extend maturity to 2031 and raise the borrowing base to $5.0 billion.
26 Jan 2026business combination● Neutral
Ahead of the Civitas merger's close, four SM Energy directors (Carla Bailo, Anita Powers, William Sullivan and Herbert Vogel) submitted resignations effective upon closing.
20 Jan 2026business combination● Neutral
SM Energy voluntarily supplemented its Civitas merger proxy disclosures after receiving demand letters from purported stockholders alleging deficiencies. It denied any further disclosure was required, and the January 27, 2026 stockholder meetings were unchanged.
19 Dec 2025business combination● Neutral
SM Energy announced SVP Kenneth Knott would conclude his role at closing of the Civitas mergers and continue as an advisor. It also disclosed the FTC granted early termination of the HSR waiting period effective December 18, 2025, with closing still expected in Q1 2026.
17 Dec 2025business combination● Neutral
SM Energy's S-4/A set its virtual special meeting for 27 January 2026 at 10:00 a.m. Mountain Time to vote on the Civitas share issuance and a charter amendment raising authorized shares from 200 million to 400 million. The record date was 17 December 2025.
5 Dec 2025business combination● NeutralMajor
SM Energy registered the shares for its all-stock merger with Civitas Resources: 1.45 SM Energy shares for each Civitas share, fixed with no adjustment for either share price between signing and closing, leaving Civitas holders with about 52% of the combined company and SM Energy's own with 48%. On those numbers Civitas is the larger party.
3 Nov 2025business combination▲ GoodMajor
SM Energy and Civitas Resources signed a merger agreement on November 2, 2025 and announced the $12.8 billion combination in a joint press release and investor presentation the next day.
3 Nov 2025business combination▲ GoodMajor
SM Energy agreed to an all-stock merger of equals with Civitas Resources (1.45 SM Energy shares per Civitas share), creating a combined company with an enterprise value of about $12.8 billion and a roughly 823,000-net-acre, Permian-anchored portfolio.
16 Oct 2025material agreement● Neutral
SM Energy's lenders amended its credit agreement's springing-maturity provisions tied to the repayment or refinancing of its senior notes.
2 Oct 2024asset acquisition disposition▲ GoodMajor
SM Energy closed its $2.55 billion acquisition of XCL Resources' Uinta Basin (Utah) assets, with Northern Oil and Gas taking its 20% share, and expanded its credit facility's revolving commitments to $2.0 billion while extending its maturity to 2029.
26 Aug 2024material agreement termination▲ Good
SM Energy redeemed in full its $349.1 million of 5.625% Senior Notes due 2025, retiring that debt ahead of maturity.
25 July 2024debt financing● NeutralMajor
SM Energy sold $1.5 billion of new notes ($750 million of 6.75% due 2029 and $750 million of 7.0% due 2032) to help fund the pending Uinta Basin acquisition.
8 July 2024debt financing● NeutralMajor
SM Energy's credit agreement was amended to accommodate financing for the pending $2.55 billion Uinta Basin acquisition from XCL Resources.
28 June 2024material agreement▲ GoodMajor
SM Energy agreed to acquire XCL Resources' Uinta Basin (Utah) oil and gas assets for $2.55 billion, with Northern Oil and Gas able to take a 20% co-investment stake, opening a major new growth area beyond the Permian and South Texas.
17 June 2022material agreement termination▲ GoodMajor
On June 17, 2022, SM Energy used cash on hand to redeem all $446.7 million of its 10% senior secured notes due 2025 at 107.5% of principal plus accrued interest. It discharged the indenture and released the collateral.
14 Feb 2022material agreement termination▲ Good
SM Energy redeemed the remaining $104.8 million of its 5.0% Senior Notes due 2024 with cash on hand, retiring that debt in full.
23 June 2021material agreement▲ GoodMajor
SM Energy closed its $400 million offering of 6.5% Senior Notes due 2028 and used the proceeds to retire its 2022 notes and part of its 2024 notes, continuing to deleverage as commodity prices recovered from the pandemic.
10 June 2021material agreement▲ Good
SM Energy agreed to sell $400 million of new 6.5% Senior Notes due 2028 to fund tender offers for its 2022 and 2024 notes.
9 June 2021material agreement▲ Good
SM Energy amended its credit agreement to loosen debt repurchase covenants, facilitating a cash tender offer for its 2024 Notes. It also launched tender offers for all of its 6.125% 2022 Notes and up to $130 million of its 5.000% 2024 Notes.
16 Nov 2020material agreement● Neutral
SM Energy's lenders reaffirmed its credit facility borrowing base at $1.1 billion in the scheduled redetermination and extended the window for it to issue permitted second-lien debt.
18 June 2020capital raising announcement● NeutralMajor
On June 17, 2020, SM Energy closed its debt exchange, swapping $718.9 million of older notes (including $107.0 million of 2021 convertible notes) for $446.675 million of new 10% second-lien secured notes due January 15, 2025. It also issued warrants to the participating holders to buy up to 5% of its common stock (subject to conditions) and paid about $53.5 million in cash to those who exchanged the 2021 notes. This completes the distressed exchange begun after the April 2020 oil price crash; it cuts the principal of the older debt but puts the new notes ahead of unsecured debt and adds potential share dilution through the warrants.
6 May 2020material agreement▼ BadMajor
SM Energy's lenders amended its credit agreement to accommodate the pending distressed debt exchange, capping new second-lien debt at $827.5 million and letting 2021 convertible noteholders take a second-lien security interest.
29 Apr 2020material agreement▼ BadMajor
Facing the 2020 oil price crash, SM Energy launched private exchange offers for up to $900 million of its unsecured notes across five maturities, swapping them for new 10% second-lien secured notes, and locked in cash-only settlement on its convertible notes.
9 Apr 2020dividend declaration▼ BadMajor
SM Energy's board declared a semi-annual cash dividend of $0.01 per share. It was payable May 8, 2020 to stockholders of record on April 24, 2020.