SM Energy Company (SM)

[Timothy Smith]

$SM - This looks a bottom should be in soon. Divest may have temporarily set it back too but better positioned now IMO.

SM Energy announced an agreement to sell its approximately 58,000 net acres in Anadarko Basin, which spans the Texas Panhandle and western Oklahoma, for $343 million in cash. The assets include SM's interests in the Granite Wash play.

The transaction was anticipated: in July, SM announced its decision to divest the asset in the effort to redeploy capital to the company's higher-return opportunities in the Eagle Ford, Bakken and Wolfcamp plays.