SM Energy Amends 8-K for Uinta Basin Asset Acquisition
Ticker: SM · Form: 8-K/A · Filed: Dec 12, 2024 · CIK: 893538
| Field | Detail |
|---|---|
| Company | Sm Energy Co (SM) |
| Form Type | 8-K/A |
| Filed Date | Dec 12, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, amendment, oil and gas
TL;DR
SM Energy filed an amendment to its 8-K regarding the Uinta Basin asset deal. **Deal details updated.**
AI Summary
SM Energy Company filed an Amendment No. 1 on Form 8-K/A on December 12, 2024, to supplement its original report filed on October 2, 2024. This amendment pertains to the acquisition of an 80% interest in the Uinta Basin oil and gas assets from XCL AssetCo, LLC, XCL Marketing, LLC, Wasatch Water Logistics, LLC, XCL Resources LLC, and XCL SandCo, LLC, which was completed on October 1, 2024.
Why It Matters
This filing clarifies details related to SM Energy's acquisition of significant oil and gas assets in the Uinta Basin, impacting its operational footprint and future production potential.
Risk Assessment
Risk Level: medium — Acquisitions of this nature carry inherent risks related to integration, operational performance, and market fluctuations in the oil and gas sector.
Key Numbers
- 80% — Interest Acquired (SM Energy acquired an 80% interest in the Uinta Basin oil and gas assets.)
Key Players & Entities
- SM Energy Company (company) — Filer of the amendment and acquirer of assets
- XCL AssetCo, LLC (company) — Seller of Uinta Basin assets
- XCL Marketing, LLC (company) — Seller of Uinta Basin assets
- Wasatch Water Logistics, LLC (company) — Seller of Uinta Basin assets
- XCL Resources LLC (company) — Seller of Uinta Basin assets
- XCL SandCo, LLC (company) — Seller of Uinta Basin assets
- Uinta Basin (location) — Location of acquired oil and gas assets
- October 1, 2024 (date) — Date of acquisition completion
- October 2, 2024 (date) — Date of original 8-K filing
- December 12, 2024 (date) — Date of 8-K/A filing
FAQ
What specific information is being amended or supplemented in this 8-K/A filing?
This Amendment No. 1 supplements the Original Report filed on October 2, 2024, concerning the acquisition of an undivided 80% interest in the Uinta Basin oil and gas assets.
Who are the parties involved in the acquisition of the Uinta Basin Assets?
SM Energy Company is the acquirer, and the sellers are collectively referred to as the 'XCL Sellers', which include XCL AssetCo, LLC, XCL Marketing, LLC, Wasatch Water Logistics, LLC, XCL Resources LLC, and XCL SandCo, LLC.
When was the acquisition of the Uinta Basin Assets completed?
The acquisition was completed on October 1, 2024.
What is the filing date of this Amendment No. 1 to the 8-K?
This Amendment No. 1 on Form 8-K/A was filed on December 12, 2024.
What type of assets were acquired in the Uinta Basin?
SM Energy acquired an undivided 80% interest in all of the rights, titles, and interests in the Uinta Basin oil and gas assets.
Filing Stats: 986 words · 4 min read · ~3 pages · Grade level 12.5 · Accepted 2024-12-12 16:14:45
Key Financial Figures
- $0.01 — nge on which registered Common stock, $0.01 par value SM New York Stock Exchange
Filing Documents
- sm-20241001.htm (8-K/A) — 34KB
- exhibit231consentofplantem.htm (EX-23.1) — 3KB
- exhibit232auditorsacknowle.htm (EX-23.2) — 2KB
- exhibit991xclresources2023.htm (EX-99.1) — 437KB
- exhibit992xclresourcesjune.htm (EX-99.2) — 470KB
- exhibit993xclacquisitionar.htm (EX-99.3) — 631KB
- auditpicture1a.jpg (GRAPHIC) — 25KB
- auditpicturea.jpg (GRAPHIC) — 25KB
- image_4.jpg (GRAPHIC) — 170KB
- image_41a.jpg (GRAPHIC) — 170KB
- image_41b.jpg (GRAPHIC) — 170KB
- image_4a.jpg (GRAPHIC) — 170KB
- xclresourceslogo1a.jpg (GRAPHIC) — 43KB
- xclresourceslogoa.jpg (GRAPHIC) — 43KB
- 0000893538-24-000148.txt ( ) — 2960KB
- sm-20241001.xsd (EX-101.SCH) — 2KB
- sm-20241001_lab.xml (EX-101.LAB) — 22KB
- sm-20241001_pre.xml (EX-101.PRE) — 13KB
- sm-20241001_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (a) Financial statements of businesses or funds acquired. The audited annual consolidated financial statements of XCL Resources Holdings, LLC and subsidiaries, which comprise the balance sheet as of December 31, 2023, the related statements of operations, members' equity, and cash flows for the year then ended, and the related notes to the consolidated financial statements, are filed as Exhibit 99.1 hereto and incorporated by reference herein. The unaudited interim consolidated financial statements of XCL Resources Holdings, LLC and subsidiaries, which comprise the balance sheet as of June 30, 2024, the related statements of operations, members' equity, and cash flows for the six months ended June 30, 2024 and 2023, and the related notes to the consolidated financial statements, are filed as Exhibit 99.2 hereto and incorporated by reference herein. (b) Pro forma financial information. The unaudited pro forma condensed combined financial information of the Company, which comprises the balance sheet as of June 30, 2024, the related statements of operations for the six months ended June 30, 2024, and the year ended December 31, 2023, and the related notes thereto, is filed as Exhibit 99.3 hereto and incorporated by reference herein. (d) Exhibits. Exhibit Number Description 23.1* Consent of Plante & Moran, PLLC 23.2* Auditor's Acknowledgement of Plante & Moran, PLLC 99.1* Audited historical financial statements as of December 31, 2023, and for the period ended December 31, 2023 for XCL Resources Holdings, LLC and s ubsidiaries 99.2* Reviewed interim historical financial statements (unaudited) as of June 30, 2024 and for the periods ended June 30, 2024 and 2023 for XCL Resources Holdings, LLC and s ubsidiaries 99.3* Unaudited pro forma condensed combined financial information for the periods presented, for the Company and the XCL Sellers 99.4 Reserve Report as of December 31, 2023 for the XCL Sellers (
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SM ENERGY COMPANY Date: December 12, 2024 By: /s/ PATRICK A. LYTLE Patrick A. Lytle Vice President - Chief Accounting Officer and Controller (Principal Accounting Officer)