SM Energy has been active in the Rockies since the early 1990s. The company solidified its position in the region with the 1999 acquisition of Nance Petroleum. Its assets are in the Eagle Ford Group and Permian Basin. As of the end of 2020, SM Energy had an estimated 404 million barrels of oil equivalent (petroleum, natural gas, and natural gas liquids) in reserves. The company had 504 employees, produced 126,900 barrels of oil equivalent per day, and earned $1.126 billion in revenue in 2020. Its total assets are estimated at nearly $5 billion.
SM Energy’s History of Oil & Natural Gas Production in the U.S.
SM Energy’s story began in 1900 when Chester Congdon and associates purchased 17,800 acres of land in St. Mary Parish, LA for $11,000. The investor group hoped to use the land for several purposes, including oil production, salt mining, and agriculture. The company has since evolved in several ways over the years:
- In 1908, the St. Mary Parish Land Company was certified as a Minnesota corporation.
- In 1915, the Minnesota corporation was dissolved and incorporated it in Delaware.
- In 1930, a well-known geologist issued a favorable report on the St. Mary Parish land, and the company began granting exploration and lease rights. Initial attempts at oil exploration failed.
- In 1938, Texaco completed the first successful oil find after leasing acreage in Horseshoe Bayou. This signified the St. Mary Parish Land Company’s entrance into oil and gas exploration. Over the next several decades, the St. Mary Parish Company continued to lease acreage and expanded—investing in and partnering with other oil and gas exploration companies.
- In 1992, the company changed its name to St. Mary Land & Exploration Company and went public.
- In 1994, St. Mary Land & Exploration Company purchased approximately 30,000 acres of land in the Permian Basin. St. Mary continued to acquire other companies and expand.
- In 2009, they eventually moved into the Maverick Basin and the Eagle Ford Shale.
- In 2010, the company changed its name to SM Energy Company, under which it still operates today.
SM Energy Oil Rig Accident Reports
Oil and natural gas exploration are dangerous undertakings. However, this does not excuse well blowouts, fires, explosions, and other incidents that injure workers and harm the environment.
Through the years, SM Energy has seen its fair share of accidents, such as:
- A 2010 incident involving oil surged from a well owned by SM Energy for about 8 hours, blackening 15 acres of ranch land about 15 miles northeast of Cheyenne, Wyoming.
- A 2012 fire at an oil well east of Cheyenne. Flames reached about 150 feet into the air after an oil treater overflowed and was ignited at the site.
- A worker’s eye was injured by a spark while welding. The worker did not have proper eye protection.
- A worker fell from a height while performing a repair on a rig. He was wearing a harness, but proper safety precautions were not in place, and he fell as a result.
Talk to an SM Energy Injury Lawyer: (888) 493-1629
You have a tough road ahead if you were injured while working for SM Energy. At Arnold & Itkin, we fight to help our clients protect their legal rights. We help injured oilfield workers and their families by recovering the full and complete compensation they need for medical treatment, ongoing care, lost earnings, emotional trauma, and so much more. This makes every difference as they put their lives back together.
Don’t let the company escape responsibility to help after an oilfield accident or injury. Call (888) 493-1629!