SM Energy names new president

DENVER -- SM Energy Co. said Thursday that it has promoted Javan Ottoson, the oil and gas company's chief operating officer, to president.

Ottoson, 54, will continue to serve as the company's chief operating officer, a position he has held since 2006.

As president, Ottoson succeeds Anthony Best who will continue as chief executive officer and as a member of its board.

SM Energy said the promotion recognizes Ottoson's contributions to the company over the years.

Shares of the company, which is based in Denver, increased 15 cents to $53.07 in midday trading Thursday. Its shares have traded in a 52-week range of $39.44 to $88.50.