SM Energy Disputes Endeavour Termination of Sale
SM Energy on Wednesday said it would pursue legal action in response to Endeavor International's termination of its acquisition of Marcellus Shale assets from SM Energy.
"Regardless of the outcome of the aforementioned dispute, SM Energy does not expect to make any capital expenditures related to its Marcellus Shale assets in 2012 and is not required to make such expenditures to maintain substantially all of its acreage position," the company said in a statement.
Endeavour on Wednesday announced that it had "terminated" purchase and sale agreements between SM Energy, SM Energy's partners and a subsidiary of Endeavour related to oil and gas assets in the Marcellus Shale in Pennsylvania.
- Endeavour Halts Drilling Ops at East Rochelle (Feb 14)
- Endeavour: Transocean Semisub Mobilized to Rochelle Field (Jan 07)
- Endeavour CFO Resigns (Oct 29)