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，因公司披露了與XCL Resources, LLC.關聯實體購買Uinta盆地石油和天然氣資產的協議，未調整後的購買價格爲25.5億美元。
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.
與此同時，Northern Oil and Gas, Inc.（NYSE:NOG）表示，將以5.1億美元收購XCL的油氣資產的20%股份，使SM Energy持有80%的股份，淨成本爲20.4億美元。
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將承擔XCL目前管理的資產的運營控制，並計劃通過債務和現有現金儲備的混合資金來資助收購。
The Board has approved the XCL transaction, effective May 1, 2024, with closing expected in September 2024, subject to customary adjustments and conditions.
董事會批准了XCL交易，自2024年5月1日起生效，預計於2024年9月進行交割，視慣例的調整和條件而定。
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%.
協同效應和前景：公司預計收購將立即對關鍵財務指標產生益處。到2025年，調整後的EBITDAX預計將上升約35%，調整後自由現金流將上升約45％，現金生產利潤率將上升約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能源預計，2025年的經過審核的生產淨額將增加至約195 MBoed，其中石油產量佔商品組合的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.
由於Uinta盆地的油含量較高且運營成本低於Midland盆地，因此SM Energy的2025年現金生產利潤率預計將上升約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：董事會批准將季度股息提高11％至每股0.20美元，開始於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.
股票回購：此外，公司授權新的5億美元股票回購計劃，有效期至2027年，以取代現有計劃。
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，公司的長期負債爲15.9億美元，現金及現金等價物爲5.063億美元。
SM Energy has received firm commitments for an aggregate $1.2 billion, 364-day unsecured bridge facility.
SM Energy已獲得總額爲12億美元的364天無擔保橋接貸款承諾。
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).
投資者可以通過景順S＆P SmallCap能源ETF（納斯達克:PSCE）和德州州資本基金信託德州石油指數ETF（NYSE:OILT）獲得該股票的持有權。
Price Action: SM shares are down 10.2% at $43.47 at the last check Thursday.
股票價格：上週四上市的SM股票跌10.2％，報價43.47美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免責聲明：本文部分內容使用了Benzinga Neuro的幫助。此內容是通過AI工具部分製作的，並由Benzinga編輯進行了審查和發佈。
Image: Shutterstock/ create jobs 51
圖片：Shutterstock/ create jobs 51