SM Energy Co. (NYSE: SM) completed its divestiture of non-operated Eagle Ford shale assets, including its ownership interest in related midstream assets, to Venado EF LP, an affiliate of KKR, on March 14.
SM Energy said it will collect net cash proceeds of about $754 million, before adjustments.
Venado purchased all outstanding membership interests in SM Energy ST LLC, a Delaware limited liability company and wholly-owned subsidiary of WPX.
SM previously delayed closing on March 4. The effective date of the transactionis November 1, 2016
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