From Earlier: SM Energy Announces Dispute with Endeavour over Closing of Marcellus Assets Sale

SM Energy Company (NYSE: SM) yesterday announces its dispute with Endeavor International Corporation (NYSE: END) over the closing of its previously announced sale of Marcellus Shale assets. Earlier today, Endeavour announced that it had "terminated" purchase and sale agreements between SM Energy, SM Energy's partners and a subsidiary of Endeavour related to oil and gas assets in the Marcellus Shale in Pennsylvania. SM Energy disputes Endeavour's ability to terminate the Agreements and is disappointed with its actions and announcement.

The Company and its partners intend to pursue any and all legal remedies arising from Endeavour's actions. Regardless of the outcome of the aforementioned dispute, SM Energy does not expect to make any capital expenditures related to its Marcellus Shale assets in 2012 and is not required to make such expenditures to maintain substantially all of its acreage position.