I think SM is short of cash. I have producing acres in a great area and SM assigned them to Oasis. SM had done nothing in the last 7 years to further develop the drill spacing. SM also cheaped out on the original 2 section horizontal well at 5.4 Million dollars. I would have much rather had no well at all.
Funny story. My check from SM was 2 weeks late and I called SM to inquire if they had sent it? That same day the check arrived. It had been mailed Without Postage! I contacted SM to tell them I had received the check and the circumstances, no postage, stamped by the post office return to sender/no postage and the envelope looked like it had been dragged behind a truck. Debbie Dinner at SM told me "it's not our fault". Upon hearing this, I had to inquire whose fault it was? Ms. Dinner informed me that the mailing of the checks is farmed out to someone else. I told Ms. Dinner that SM was responsible, for their employees, the mail service's poor performance. SM is just another company that acts like a 6 year old. I feel well shut of SM Energy but I can't say I have encountered any oil companies that act better.