SM Energy Dives Despite Bullish Uinta Basin Acquisition: Details
SM Energy Dives Despite Bullish Uinta Basin Acquisition: Details
SM Energy Company (NYSE:SM) shares are diving today after the company disclosed an agreement to purchase the Uinta Basin oil and gas assets from entities affiliated with XCL Resources, LLC. for an unadjusted purchase price of $2.55 billion.
SM能源公司（NYSE: SM）股票今天下跌，因公司披露了与XCL Resources, LLC.关联实体购买Uinta盆地石油和天然气资产的协议，未调整后的购买价格为25.5亿美元。
Simultaneously, Northern Oil and Gas, Inc. (NYSE:NOG) stated that it would purchase a 20% share of XCL's oil and gas assets for $510 million, leaving SM Energy with an 80% stake at a net cost of $2.04 billion.
与此同时，Northern Oil and Gas, Inc.（NYSE:NOG）表示，将以5.1亿美元收购XCL的油气资产的20%股份，使SM Energy持有80%的股份，净成本为20.4亿美元。
SM Energy will assume operational control of the assets currently managed by XCL and plans to fund the buyout through a mix of debt and existing cash reserves.
SM Energy将承担XCL目前管理的资产的运营控制，并计划通过债务和现有现金储备的混合资金来资助收购。
The Board has approved the XCL transaction, effective May 1, 2024, with closing expected in September 2024, subject to customary adjustments and conditions.
董事会批准了XCL交易，自2024年5月1日起生效，预计于2024年9月进行交割，视惯例的调整和条件而定。
Synergy & Outlook: The company anticipates the acquisition will immediately benefit key financial metrics. For 2025, Adjusted EBITDAX is expected to rise by approximately 35%, Adjusted free cash flow by about 45%, and cash production margin by around 11%.
协同效应和前景：公司预计收购将立即对关键财务指标产生益处。到2025年，调整后的EBITDAX预计将上升约35%，调整后自由现金流将上升约45％，现金生产利润率将上升约11％左右。
SM Energy projects that pro forma 2025 net production will rise to around 195 MBoed, with oil production making up 52% of the commodity mix.
SM能源预计，2025年的经过审核的生产净额将增加至约195 MBoed，其中石油产量占商品组合的52％。
SM Energy's 2025 cash production margin is projected to rise by about 11%, driven by the Uinta Basin's higher oil content and lower operating costs than the Midland Basin.
由于Uinta盆地的油含量较高且运营成本低于Midland盆地，因此SM Energy的2025年现金生产利润率预计将上升约11%。
Dividend Boost: The Board of Directors approved an 11% increase in the quarterly dividend to $0.20 per share, starting in Q4 2024.
股息提升：董事会批准将季度股息提高11％至每股0.20美元，开始于2024年第四季度。
Share Buyback: Additionally, the company authorized a new $500 million share repurchase program through 2027, replacing the existing program.
股票回购：此外，公司授权新的5亿美元股票回购计划，有效期至2027年，以取代现有计划。
As of March-end, the company's long-term debt was $1.59 billion, and cash and cash equivalents were $506.3 million.
截至三月底，公司的长期负债为15.9亿美元，现金及现金等价物为5.063亿美元。
SM Energy has received firm commitments for an aggregate $1.2 billion, 364-day unsecured bridge facility.
SM Energy已获得总额为12亿美元的364天无担保桥接贷款承诺。
Investors can gain exposure to the stock via Invesco S&P SmallCap Energy ETF (NASDAQ:PSCE) and Texas Capital Funds Trust Texas Capital Texas Oil Index ETF (NYSE:OILT).
投资者可以通过景顺S＆P SmallCap能源ETF（纳斯达克:PSCE）和德州州资本基金信托德州石油指数ETF（NYSE:OILT）获得该股票的持有权。
Price Action: SM shares are down 10.2% at $43.47 at the last check Thursday.
股票价格：上周四上市的SM股票跌10.2％，报价43.47美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免责声明：本文部分内容使用了Benzinga Neuro的帮助。此内容是通过AI工具部分制作的，并由Benzinga编辑进行了审查和发布。
Image: Shutterstock/ create jobs 51
图片：Shutterstock/ create jobs 51