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SM Energy’s Borrowing Base Remains Unchanged

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April 7, 2014

Lenders for SM Energy Co. (NYSE: SM) did not adjust its $2.2 billion borrowing base during a semi-annual revolving credit facility redetermination, the company said April 7.

The company left the lenders’ commitment amount unadjusted at $1.3 billion, SM Energy said, noting that no other changes were made to the credit facilities’ terms.

CEO Tony Best said, “I am pleased to see that our credit facility’s borrowing base remained unchanged this redetermination cycle. We were able to hold it flat despite lower gas prices and material divestitures. This is a ...

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