05:37 PM EDT, 07/18/2024 (MT Newswires) -- SM Energy ( SM ) said late Thursday it priced an upsized $750 million offering of 6.75% senior notes due 2029 and $750 million of 7% senior notes due 2032.

Earlier in the day, the company had said the offering size would be $650 million each.

SM Energy ( SM ) intends to use the net proceeds, cash on hand, and borrowings under a credit agreement to fund the pending acquisition of oil and gas properties and other assets in Uinta Basin from certain entities affiliated with XCL Resources.

The company also plans to use the proceeds to redeem all the outstanding 5.625% notes due 2025.

It will issue the notes at par, and the offering will likely close on July 25.