![SM Energy is acquiring an 80% interest in XCL Resources for $2.04 billion; non-op E&P Northern Oil & Gas is buying the remaining 20% for $510 million. (Source: Shutterstock.com)](/sites/default/files/styles/featurable_list_image/public/image/2024/06/sm-xcl-followup.jpg?itok=9WXF2Ypc)
SM Stock Dives Over 10% as Investors Weigh $2B Uinta Basin Deal
Shares for SM Energy were trading down after announcing a multibillion-dollar entry into Utah’s Uinta Basin, an unusual move that nonetheless adds scale to the company’s Eagle Ford Shale and Permian Basin operations.