Exploration & Production | Deals - Acquisition, Mergers, Divestitures
SM Energy to Start Up Powder River Basin Ops
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During the second quarter of 2013, SM Energy Company closed an acquisition of approximately 40,000 net acres in the Powder River Basin and now has approximately 110,000 total net acres in the basin.
Of these total net acres, approximately 65,000 net acres are prospective for the Frontier formation, approximately 45,000 net acres are prospective for the Shannon formation, and approximately 15,000 net acres are prospective for the Sussex formation.
The Company expects to operate a one rig program focused on the Frontier formation in the second half of the year.