SM Energy – Mitsui Reach Eagle Ford Shale JV Deal

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SM Energy sells 39,000 net acres to Mitsui for total commitments of $680 million (>$17,000 per acre).¬† The full payment will be made in the form of a cost carry in which Mitsui will carry SM for 90% of its costs on the acreage until the $680 million is exhausted.¬†Industry analyst have been waiting for announcements from SM Energy on how they would raise capital for development of their Eagle Ford Shale assets.¬† [Read more…]