SM Energy CEO eyes building shareholder value, touts strong liquidity

By Lisa Kerner

Charlotte, N.C., April 20 – SM Energy Co. president and chief executive officer Jay Ottoson said the company is focused on building value for shareholders, and not on liquidity or creative financing.

Ottoson made his comments during a presentation on Monday at the IPAA Oil and Gas Investor Symposium in New York.

While Ottoson mainly discussed the Eagle Ford program and North Dakota acreage, he said the company has “an enormous” amount of liquidity.

SM Energy’s borrowing base was recently reaffirmed at $2.4 billion. The company has $166 million drawn, according to the presentation.

The Denver-based independent energy company’s debt includes five senior notes with coupons of 5%, 6 1/8%, 6˝% and 6 5/8%, with maturities from 2019 through 2024.

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