SM Energy Company provided preliminary, unaudited estimates of realized commodity prices and derivative activity for the three months ended September 30, 2026. Average realized prices before net derivative settlements were $85.76 per Bbl for oil, $2.48 per Mcf for gas and $29.40 per Bbl for NGLs.
The company anticipates a $207 million net derivative settlement loss for the third quarter. This excludes changes in the fair value of unsettled derivative positions, which could be material and will be reported with third-quarter results. The preliminary information is subject to completion of the company’s reporting process and is not an estimate of third-quarter earnings.
SM Energy Co (SM) director Ashwin Venkatraman reported selling 3,650 shares of common stock on September 10, 2026 in an open-market or private transaction at a weighted-average price of about $38.28 per share, executed in multiple trades between $38.14 and $38.46 per share.
Following this sale, the director directly holds 12,525 shares of SM Energy common stock. No Rule 10b5-1 trading plan is indicated for this transaction.
SM Energy Co (SM) reported that on September 4, 2026 it paid $416,791,000 to redeem all outstanding principal of its 6.625% Senior Notes due 2027, plus accrued and unpaid interest. The redemption was carried out under the existing Indenture and related supplemental indentures governing these notes.
On the same date, the company satisfied all remaining obligations under the Indenture Documents as they relate to the 2027 Senior Notes, and the redeemed notes and related guarantees were cancelled upon settlement.
SM Energy Co (SM) reported that its EVP & CFO, A. Wade Pursell, made a bona fide gift of 5,000 shares of common stock on August 21, 2026. The transaction was recorded at $0.00 per share, and Pursell’s directly held stake after the gift is 426,531 shares.
SM Energy Co (SM) executive James Barker Lebeck, EVP, GC & Corp Secretary, reported selling 17,500 shares of common stock on 2026-08-21 in an open-market or private transaction at a weighted average price of $37.02 per share, with individual trade prices ranging from $36.85 to $37.15. Following these sales, he directly held 14,705 shares of SM Energy common stock. The filing’s Rule 10b5-1 checkbox was not marked as an affirmatively adopted trading plan.
SM Energy Co (SM) received a notice on Form 144 indicating that officer James Barker Lebeck plans to sell 17,500 shares of common stock through Morgan Stanley Smith Barney LLC. The proposed sale has an aggregate market value of $647,876.25, with 237,854,068 shares of common stock stated as outstanding. The shares relate to awards identified as restricted stock and performance shares acquired on various dates.
Aristeia Capital, L.L.C. filed as a large shareholder of SM Energy Company, reporting beneficial ownership of 13,000,649 shares of SM Energy common stock. This represents 5.47% of the outstanding shares, based on 239,748,701 shares outstanding as of July 23, 2026, as reported by SM Energy.
Aristeia Capital has sole voting power and sole dispositive power over all 13,000,649 shares, with no shared voting or dispositive authority. The filing identifies Aristeia Capital as organized in Delaware and acting in an investment adviser capacity. The Schedule 13G is signed by Andrew B. David as Chief Operating Officer of Aristeia Capital.
State Street Corporation reports beneficial ownership of SM Energy common stock. The firm, through its asset-management subsidiaries, holds 11,705,860 shares of SM Energy common stock, representing 4.9% of the class as of June 30, 2026.
State Street has no sole voting or dispositive power over these shares. It reports shared voting power over 11,334,428 shares and shared dispositive power over 11,705,860 shares, reflecting holdings managed across entities including SSGA Funds Management, Inc. and several State Street Global Advisors affiliates.
The filing notes that ownership is at or below 5 percent of the class, and that no other person is disclosed as having the right to receive dividends or sale proceeds beyond the normal investors in these managed accounts.
SM Energy Company reported Q2 2026 oil, gas and NGL production revenue of $2,156 million and total operating revenues and other income of $2,500 million, generating net income of $1,071 million, or $4.46 per diluted share. For the first half of 2026, net income was $736 million and net cash provided by operating activities was $1,743 million.
The company completed its stock-for-stock merger with Civitas Resources on January 30, 2026, transferring total consideration of $2,664 million and issuing about 124 million shares. Civitas contributed $1.3 billion of revenue in Q2 and $2.0 billion year to date. SM also closed the South Texas Divestiture on April 30, 2026, receiving $896 million of net cash proceeds and recording a $262 million gain.
Total assets rose to $18,858 million at June 30, 2026, with Senior Notes, net, increasing to $6,620 million. The company issued $1,000 million of 6.625% 2034 Senior Notes, repurchased $894 million of 8.375% 2028 Civitas notes, and redeemed both $400 million of 2026 Civitas Senior Notes and $419 million of 2026 Senior Notes. There were no borrowings under the $2.5 billion revolving credit facility. Q2 production reached 40.0 MMBOE, or 439.7 MBOE per day, supported by a $2.65–$2.85 billion 2026 capital program and an active commodity derivatives portfolio.
SM Energy Company reported very strong results for the quarter ended June 30, 2026 and outlined further debt reduction plans. Total operating revenues and other income were $2,500 million, with net income of $1,071 million, or $4.46 per diluted share. Net cash provided by operating activities was $1,103 million, and adjusted free cash flow reached $467 million. Average net daily production was 439.7 MBoe per day, including roughly 230 MBbl per day of oil, at an average realized price of $53.86 per Boe before hedges.
The company continues integrating its Civitas merger, having actioned 95% of targeted $355 million run-rate synergies and cutting full-year 2026 recurring G&A guidance by $50 million at the midpoint. SM closed a $950 million South Texas asset sale, recognized an estimated $262 million gain, and used about $900 million of proceeds to redeem $819 million of 2026 Senior Notes, contributing to a $1.1 billion sequential reduction in net debt to $6,253 million.
For 2026, SM raised its second-half production outlook to 435–440 MBoe per day and narrowed full-year production guidance to 418–423 MBoe per day while maintaining capital guidance of $2.65–$2.85 billion. It also instructed the trustee to redeem at par the remaining $417 million of 6.625% Senior Notes due 2027 on September 4, 2026 using cash on hand, leaving no Senior Notes maturities until mid-2028.