SM Energy Company (NYSE:SM) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
the Ninth Amendment (the Amendment) to the Fifth Amended and
Restated Credit Agreement (the Credit Agreement) by and among the
Company, Wells Fargo Bank, National Association, as
Administrative Agent, and the institutions named therein as
lenders. Capitalized terms used but not defined herein have the
meanings ascribed to such terms in the Amendment or the Credit
Agreement, as applicable.
to enter into Swap Agreements for an aggregate notional volume up
to 85% of the Companys projected volumes of produced crude oil,
natural gas and natural gas liquids during the 36-month period
following the execution of any Swap Agreement, and 75% of the
Companys expected production from its proved reserves for the
24-month period commencing on the third anniversary of such Swap
Agreement. In addition, to the Amendment, the Lenders agreed to
set the Borrowing Base and the Aggregate Commitment at $925
million ( to the regularly scheduled redetermination).
complete and is qualified in its entirety by reference to the
Amendment, a copy of which is filed as Exhibit 10.1 to this
Current Report on Form 8-K and is incorporated herein by
reference.
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
Form 8-K is incorporated into this Item 2.03 by reference.
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Exhibit Number
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Description
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Exhibit 10.1
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Ninth Amendment to Fifth Amended and Restated Credit
Agreement, dated March 31, 2017, among SM Energy Company, Wells Fargo Bank, National Association, as Administrative Agent, and the Lenders party thereto |
About SM Energy Company (NYSE:SM)
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids (NGLs) in onshore North America. The Company operates in the exploration and production segment of the oil and gas industry within the United States. Its operations are concentrated in onshore operating areas in the United States: South Texas & Gulf Coast Region, Rocky Mountain Region and Permian Region. It has working interests in approximately 1,460 gross (approximately 870 net) productive oil wells and approximately 1,770 gross (approximately 650 net) productive gas wells. Within South Texas & Gulf Coast Region, the Company has both operated and non-operated Eagle Ford shale programs on approximately 200,000 net acres. It has approximately 162,000 net acres being developed in the Bakken and Three Forks formations. It has approximately 23,000 net acres in its Permian Region. SM Energy Company (NYSE:SM) Recent Trading Information
SM Energy Company (NYSE:SM) closed its last trading session down -0.25 at 23.77 with 2,812,382 shares trading hands.
