SM Energy Co. (NYSE: SM) opened a public offering of 8 million common shares, the company said Dec. 1.
Underwriters will likely receive a 30-day option to purchase 1.2 million additional shares.
The net proceeds will support acquisition of about 4,100 net acres of additional oil and gas assets in the Midland Basin, and will also reduce debts and support general corporate purposes.
J.P. Morgan, BofA Merrill Lynch, and Wells Fargo Securities are joint book-running managers.
SM Energy Co. is based in Denver.
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