SM Energy Company SM announces that, as the result of its
conversations with Mercy Investments, Mercy has elected to withdraw its
stockholder resolution concerning a Climate Change Mitigation Plan proposed to
be submitted at the Company's 2014 Annual Meeting of Stockholders.
“We recognize the environmental and financial impacts associated with natural
gas flaring and methane emissions and actively manage these impacts,” the
Company said. The Company has agreed that it will disclose emissions data
consistent with industry best practices by early 2016, with respect to data
gathered in 2015.
“Through our environmental, health, and safety initiatives and operational
practices we work to minimize flaring of natural gas and the broader
environmental impact of our operations in North Dakota and our other key
operating areas. In addition, with respect to our development efforts, we will
strive to improve our reductions in flaring on a per unit produced basis,” the
Company said. In addition, the Company has been working to design a corporate
responsibility and sustainability policy that will address all aspects of the
Company's broader sustainability efforts and which is expected to result in
additional management reporting systems and public disclosures by early 2016.
ABOUT THE COMPANY
SM Energy Company is an independent energy company engaged in the acquisition,
exploration, development, and production of crude oil, natural gas, and
natural gas liquids in onshore North America. SM Energy routinely posts
important information about the Company on its website. For more information
about SM Energy, please visit its website at www.sm-energy.com.
INFORMATION ABOUT FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within the meaning of
securities laws, including forecasts and projections. The words “anticipate,”
“assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “intend,”
“plan,” “project,” “will” and similar expressions are intended to identify
forward looking statements. These statements involve known and unknown risks,
which may cause SM Energy's actual results to differ materially from results
expressed or implied by the forward looking statements. These risks include
factors such as the availability, proximity and capacity of gathering,
processing and transportation facilities; the uncertainty of negotiations to
result in an agreement or a completed transaction; the uncertain nature of
announced acquisition, divestiture, joint venture, farm down or similar
efforts and the ability to complete any such transactions; the uncertain
nature of expected benefits from the actual or expected acquisition,
divestiture, joint venture, farm down or similar efforts; the volatility and
level of oil, natural gas, and natural gas liquids prices; uncertainties
inherent in projecting future rates of production from drilling activities and
acquisitions; the imprecise nature of estimating oil and gas reserves; the
availability of additional economically attractive exploration, development,
and acquisition opportunities for future growth and any necessary financings;
unexpected drilling conditions and results; unsuccessful exploration and
development drilling results; the availability of drilling, completion, and
operating equipment and services; the risks associated with the Company's
commodity price risk management strategy; uncertainty regarding the ultimate
impact of potentially dilutive securities; and other such matters discussed in
the “Risk Factors” section of SM Energy's 2013 Annual Report on Form 10-K. The
forward looking statements contained herein speak as of the date of this
announcement. Although SM Energy may from time to time voluntarily update its
prior forward looking statements, it disclaims any commitment to do so except
as required by securities laws.
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