Denver-based SM Energy Co. has hired Petrie Partners to sell noncore assets in the Williston Basin’s Bakken Shale to focus additional capital on the Permian Basin and Eagle Ford Shale. According to the company, about 54,500 net acres are being marketed, consisting of the Raven/Bear Den acreage and leases outside the Divide County, ND, development.

Lonestar Resources U.S. Inc. said it has reduced its long-term debt from $319.5 million on June 30 to $284.4 million on Sept. 30, an 11% decrease. The Fort Worth, TX-based company’s debt total from the end of September included $94.5 million under the revolving credit facility for subsidiary Lonestar Resources Americas Inc. (LRAI); $38.0 million of LRAI’s second tier senior notes; and $151.8 million of LRAI’s 8.75% senior notes. Lonestar said as of Sept. 30, it had repurchased $68.2 million of its unsecured notes with proceeds from the issuance of $38.0 million of second lien notes and 222,821 shares of Class A common stock, at a price of $9.26/share. The stock issuance is still subject to stockholder approval. Lonestar also said it has agreed to sell its remaining conventional oil and gas assets to an undisclosed buyer for $14 million. The deal would bring its overall conventional divestiture process total to $16.2 million. The sale is expected to close by Oct. 31. Proceeds from the sale would be used to further pay down debt.