Skadden is advising SM Energy Company on its agreement to sell certain South Texas assets to Caturus Energy, LLC for a cash purchase price of $950 million, subject to customary adjustments.
SM Energy has agreed to sell approximately 61,000 net acres and approximately 260 producing wells in its southern Maverick Basin position in Webb County, Texas, along with related support facilities. The transaction is expected to close in the second quarter of 2026 with an effective date of February 1, 2026.
SM Energy Company is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and NGLs in the states of Colorado, New Mexico, Texas and Utah.
The Skadden team includes Emery Choi, Mingda Zhao, Jeff Romero, Leila Sayegh and Michael Hong.