SM Energy Company is incorporated in Delaware in 1915. It is an energy company engaged in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids (NGLs) in onshore North America. The Company's assets include positions in the Eagle Ford shale and Bakken/Three Forks resource plays, as well as meaningful positions in the Granite Wash, Haynesville shale, and Woodford shale resource plays. Its portfolio is comprised of properties with established production and reserves, prospective drilling opportunities, and unconventional resource prospects. The Company faces competition from a substantial number of major and independent oil and gas companies, which in some cases have larger technical staffs and greater financial and operational resources than the Company does. The Company's business is regulated by numerous federal, state, and local laws and governmental regulations.