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SM Energy to buy Permian Basin acreage for $1.6 billion

Oct 18 SM Energy Co said on Tuesday it would buy 35,700 net acres in West Texas's Howard and Martin counties for about $1.6 billion and sell its Williston Basin assets in North Dakota for $785 million to Oasis Petroleum Inc .

SM said the Texas purchase - from QStar LLC, a portfolio company of EnCap Investments LP and a related entity - would expand its footprint in the Permian Basin to about 82,450 net acres.

SM Energy said in August it would buy 24,783 net acres in Howard County for about $980 million. (Reporting by Arathy S Nair in Bengaluru; Editing by Ted Kerr)

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