SM Energy Co.

SM Energy Co., Denver, (NYSE: SM), formerly known as St. Mary Land & Exploration Co., reports it is planning to raise at least $300 to $500 million through divestitures of nonstrategic assets and/or joint venture agreements over the next 12 months.

Part of the planned activities include the potential sale or joint venture of the company's roughly 43,000 net acre Marcellus shale position in McKean and Potter counties, Pennsylvania. Bank of America Merrill Lynch has been retained to sell the Marcellus assets. Potato Creek 3H, the company's second Marcellus well in McKean County, began producing to sales in early August at a facility-constrained initial gas production rate of more than 7 million cubic feet equivalent per day.