SM Energy Sells Texas Maverick Basin Assets to Caturus for $950M
SM Energy Company has agreed to sell a package of South Texas assets to Caturus Energy, LLC for $950 million in cash, advancing its plan to streamline the portfolio and pay down debt.
The Denver-based producer is divesting about 61,000 net acres and roughly 260 producing wells in its southern Maverick Basin position in Webb County, Texas, along with associated facilities.
The assets are expected to average 37–39 MBoe/d of production in 2026, of which 45% is liquids and 9% is oil, and to generate approximately $160 million of asset-level cash flow for the full year, excluding corporate costs. As of December 31, 2025, the divested properties carried an estimated 168 MMBoe of net proved reserves.
“This timely asset sale largely accomplishes one of our key priorities of selling more than $1.0 billion in assets, which will enable us to reduce debt and strengthen our capital structure,” said President and CEO Beth McDonald.
The transaction is expected to close in the second quarter of 2026, subject to customary conditions. RBC Capital Markets is serving as exclusive financial advisor to SM Energy, while Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel.