Denver-based SM Energy Co. announced two offers of aggregate principal amount of its senior notes worth $650 million each, with one due 2029 and the other due 2032, the E&P said July 18.

SM, an operator in the Midland Basin and South Texas, said it intends to use the net proceeds from the notes, plus cash on hand and borrowings under its credit agreement, to fund its pending $2.04 billion acquisition of XCL Resources. The XCL deal, which is anticipated to close in September, marks an entry for SM Energy into Utah's Uinta Basin.

The company also plans to redeem all of its outstanding 5.625% notes due 2025 and pay related expenses.

Denver-based SM Energy Co. announced two offers of aggregate principal amount of its senior notes worth $650 million each, with one due 2029 and the other due 2032, the E&P said July 18.

SM, an operator in the Midland Basin and South Texas, said it intends to use the net proceeds from the notes, plus cash on hand and borrowings under its credit agreement, to fund its pending $2.04 billion acquisition of XCL Resources. The XCL deal, which is anticipated to close in September, marks an entry for SM Energy into Utah's Uinta Basin.

The company also plans to redeem all of its outstanding 5.625% notes due 2025 and pay related expenses.