SM Energy Announces Plans to Collect and Disclose Emissions Data, Resulting in Withdrawal of Stockholder Climate Change Propo...
18 April 2014 - 7:00AM
Business Wire
SM Energy Company (NYSE: SM) announces that, as the result of
its conversations with Mercy Investments, Mercy has elected to
withdraw its stockholder resolution concerning a Climate Change
Mitigation Plan proposed to be submitted at the Company’s 2014
Annual Meeting of Stockholders.
“We recognize the environmental and financial impacts associated
with natural gas flaring and methane emissions and actively manage
these impacts,” the Company said. The Company has agreed that it
will disclose emissions data consistent with industry best
practices by early 2016, with respect to data gathered in 2015.
“Through our environmental, health, and safety initiatives and
operational practices we work to minimize flaring of natural gas
and the broader environmental impact of our operations in North
Dakota and our other key operating areas. In addition, with respect
to our development efforts, we will strive to improve our
reductions in flaring on a per unit produced basis,” the Company
said. In addition, the Company has been working to design a
corporate responsibility and sustainability policy that will
address all aspects of the Company’s broader sustainability efforts
and which is expected to result in additional management reporting
systems and public disclosures by early 2016.
ABOUT THE COMPANY
SM Energy Company is an independent energy company engaged in
the acquisition, exploration, development, and production of crude
oil, natural gas, and natural gas liquids in onshore North America.
SM Energy routinely posts important information about the
Company on its website. For more information about SM Energy,
please visit its website at www.sm-energy.com.
INFORMATION ABOUT FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within
the meaning of securities laws, including forecasts and
projections. The words “anticipate,” “assume,” “believe,” “budget,”
“estimate,” “expect,” “forecast,” “intend,” “plan,” “project,”
“will” and similar expressions are intended to identify forward
looking statements. These statements involve known and unknown
risks, which may cause SM Energy's actual results to differ
materially from results expressed or implied by the forward looking
statements. These risks include factors such as the availability,
proximity and capacity of gathering, processing and transportation
facilities; the uncertainty of negotiations to result in an
agreement or a completed transaction; the uncertain nature of
announced acquisition, divestiture, joint venture, farm down or
similar efforts and the ability to complete any such transactions;
the uncertain nature of expected benefits from the actual or
expected acquisition, divestiture, joint venture, farm down or
similar efforts; the volatility and level of oil, natural gas, and
natural gas liquids prices; uncertainties inherent in projecting
future rates of production from drilling activities and
acquisitions; the imprecise nature of estimating oil and gas
reserves; the availability of additional economically attractive
exploration, development, and acquisition opportunities for future
growth and any necessary financings; unexpected drilling conditions
and results; unsuccessful exploration and development drilling
results; the availability of drilling, completion, and operating
equipment and services; the risks associated with the Company's
commodity price risk management strategy; uncertainty regarding the
ultimate impact of potentially dilutive securities; and other such
matters discussed in the “Risk Factors” section of SM Energy's 2013
Annual Report on Form 10-K. The forward looking statements
contained herein speak as of the date of this announcement.
Although SM Energy may from time to time voluntarily update its
prior forward looking statements, it disclaims any commitment to do
so except as required by securities laws.
SM Energy CompanyPatty Errico, 303-830-5052
SM Energy (NYSE:SM)
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