SM Energy (SM) signed an agreement to sell part of its acreage in Texas that is prospective for the Eagle Ford Shale.
SM Energy is selling 15,400 net acres for $225 million, or $14,610 per acre. The acreage is located mostly in LaSalle County, Texas. The acreage has three drilled wells but no current production.
SM Energy said that the sale would close in August 2011 and that the company is looking for further buyers for its acreage in the Eagle Ford shale.