Welcome to our dedicated page for Sm Energy SEC filings (Ticker: SM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
SM Energy Company filings document the regulatory disclosures of an independent upstream oil and gas company producing crude oil, natural gas, and NGLs across Colorado, New Mexico, Texas, and Utah. Its 8-K reports furnish operating and financial results, realized commodity prices, derivative activity, share data, and related earnings materials.
The filing record also covers capital-structure and financing matters, including senior note issuances, purchase agreements, subsidiary guarantees, and tender offer disclosures for outstanding notes. Proxy materials and related filings address shareholder voting, governance matters, executive and board oversight, and other public-company disclosure topics.
SM Energy Co EVP & CFO A. Wade Pursell reported two non-market transactions in company stock. On March 12, 2026, he made a bona fide gift of 7,500 shares of common stock with no sale proceeds, leaving him with 398,110 shares held directly afterward.
Earlier, on December 31, 2025, he purchased 184 shares of common stock at $15.96 per share through the company’s Employee Stock Purchase Plan, after which he held 405,610 shares directly.
SM Energy Company has issued and sold $1.0 billion of 6.625% Senior Notes due 2034. The notes were placed with institutional investors under Rule 144A and Regulation S and are not registered under the Securities Act.
The notes mature on April 15, 2034, pay 6.625% interest semi-annually starting October 15, 2026, and are guaranteed by certain subsidiaries. The indenture includes restrictions on additional debt, dividends, asset sales, liens, affiliate transactions, and mergers, and sets out detailed events of default and optional redemption terms.
SM Energy Company announced that it has priced an upsized private offering of $1.0 billion aggregate principal amount of 6.625% senior notes due 2034, to be issued at par. The offering is expected to close on March 9, 2026, subject to customary conditions.
SM Energy plans to use the net proceeds mainly to fund a previously announced cash tender offer for up to $750 million of its outstanding $1.350 billion 8.375% senior notes due 2028, and for general corporate purposes, including additional repayment of the 2028 notes. The notes are being sold in a private placement under exemptions from registration.
SM Energy Company announced that it has priced an upsized private offering of $1.0 billion aggregate principal amount of 6.625% senior notes due 2034, to be issued at par. The offering is expected to close on March 9, 2026, subject to customary conditions.
SM Energy plans to use the net proceeds mainly to fund a previously announced cash tender offer for up to $750 million of its outstanding $1.350 billion 8.375% senior notes due 2028, and for general corporate purposes, including additional repayment of the 2028 notes. The notes are being sold in a private placement under exemptions from registration.
SM Energy Company announced that it has priced an upsized private offering of $1.0 billion aggregate principal amount of 6.625% senior notes due 2034, to be issued at par. The offering is expected to close on March 9, 2026, subject to customary conditions.
SM Energy plans to use the net proceeds mainly to fund a previously announced cash tender offer for up to $750 million of its outstanding $1.350 billion 8.375% senior notes due 2028, and for general corporate purposes, including additional repayment of the 2028 notes. The notes are being sold in a private placement under exemptions from registration.
SM Energy Company ownership update: BlackRock, Inc. reports beneficial ownership of 33,455,147 shares, representing 14.0% of SM Energy Company common stock as reported on this amendment.
BlackRock discloses sole voting power of 33,100,271 shares and sole dispositive power of 33,455,147 shares. The filing identifies iShares Core S&P Small-Cap ETF as a holder with more than 5% of outstanding common stock. The amendment is signed by Spencer Fleming on 03/04/2026.
SM Energy Company ownership update: BlackRock, Inc. reports beneficial ownership of 33,455,147 shares, representing 14.0% of SM Energy Company common stock as reported on this amendment.
BlackRock discloses sole voting power of 33,100,271 shares and sole dispositive power of 33,455,147 shares. The filing identifies iShares Core S&P Small-Cap ETF as a holder with more than 5% of outstanding common stock. The amendment is signed by Spencer Fleming on 03/04/2026.
SM Energy Company ownership update: BlackRock, Inc. reports beneficial ownership of 33,455,147 shares, representing 14.0% of SM Energy Company common stock as reported on this amendment.
BlackRock discloses sole voting power of 33,100,271 shares and sole dispositive power of 33,455,147 shares. The filing identifies iShares Core S&P Small-Cap ETF as a holder with more than 5% of outstanding common stock. The amendment is signed by Spencer Fleming on 03/04/2026.
SM Energy Company plans a private offering of $750,000,000 aggregate principal amount of senior notes due 2034 and has launched a cash tender offer for up to $750,000,000 of its 8.375% senior notes due 2028, of which $1.350 billion is outstanding. The notes offering is limited to qualified institutional buyers under Rule 144A and non‑U.S. persons under Regulation S and will be issued without Securities Act registration under available exemptions. SM Energy expects to use the new notes’ net proceeds, together with cash on hand and/or borrowings under its revolving credit facility, to fund the tender offer for the 2028 notes under an Offer to Purchase dated March 4, 2026. The company also filed as exhibits Civitas Resources’ audited 2024–2025 financial statements, pro forma combined financial information and a Civitas reserve report following their completed merger.
SM Energy Company plans a private offering of $750,000,000 aggregate principal amount of senior notes due 2034 and has launched a cash tender offer for up to $750,000,000 of its 8.375% senior notes due 2028, of which $1.350 billion is outstanding. The notes offering is limited to qualified institutional buyers under Rule 144A and non‑U.S. persons under Regulation S and will be issued without Securities Act registration under available exemptions. SM Energy expects to use the new notes’ net proceeds, together with cash on hand and/or borrowings under its revolving credit facility, to fund the tender offer for the 2028 notes under an Offer to Purchase dated March 4, 2026. The company also filed as exhibits Civitas Resources’ audited 2024–2025 financial statements, pro forma combined financial information and a Civitas reserve report following their completed merger.
SM Energy Company plans a private offering of $750,000,000 aggregate principal amount of senior notes due 2034 and has launched a cash tender offer for up to $750,000,000 of its 8.375% senior notes due 2028, of which $1.350 billion is outstanding. The notes offering is limited to qualified institutional buyers under Rule 144A and non‑U.S. persons under Regulation S and will be issued without Securities Act registration under available exemptions. SM Energy expects to use the new notes’ net proceeds, together with cash on hand and/or borrowings under its revolving credit facility, to fund the tender offer for the 2028 notes under an Offer to Purchase dated March 4, 2026. The company also filed as exhibits Civitas Resources’ audited 2024–2025 financial statements, pro forma combined financial information and a Civitas reserve report following their completed merger.
SM Energy Company reports on a transformative 2025, highlighting a completed Uinta Basin integration, a pending merger with Civitas Resources that closed in early 2026, and a sharper focus on high-return oil development. Net proved reserves were 673.0 MMBOE at December 31, 2025, down slightly from 678.3 MMBOE as production of 75.5 MMBOE and reserve removals under the five-year development rule slightly exceeded extensions and positive revisions.
Average net daily production rose 21% to 206.8 MBOE, driven by a full year from the Uinta Basin, and oil grew to 53% of total volumes. Production revenue increased to $3.1 billion and net derivative gains to $178 million, supported by stronger gas pricing. PV-10 of total proved reserves was $6.847 billion, below 2024 due to lower commodity prices and reserve mix.
The company emphasizes disciplined capital allocation, sustainability, and balance sheet strength. For 2026, it plans a $2.65–$2.85 billion capital program funded mainly with operating cash flow, prioritizing integration of Civitas, divestiture of selected South Texas assets, debt reduction, and increased shareholder returns through a higher $0.88 per-share base dividend and share repurchases.
SM Energy Company reported strong fourth quarter and full-year 2025 results, with record net production of 75.5 MMBoe and record operating cash flow of $2.01 billion. Adjusted EBITDAX reached $2.26 billion, up 13% year-over-year, as volumes grew despite weaker oil prices.
Full-year net income was $648 million, or $5.64 per diluted share, versus $770 million in 2024, while adjusted net income was $623 million, or $5.42 per share. Adjusted free cash flow rose 28% to $620 million, and net debt fell by $437 million to $2.37 billion, improving leverage to 1.05x net debt-to-adjusted EBITDAX.
The company closed its merger with Civitas Resources in early 2026 and agreed to sell certain South Texas assets for $950 million, advancing a $1.0 billion divestiture target. The board raised the annual fixed dividend policy by 10% to $0.88 per share and declared a quarterly dividend of $0.22 payable on March 23, 2026. For 2026, SM Energy plans $2.65–$2.85 billion in capital expenditures and 146–153 MMBoe of production, prioritizing free cash flow, debt reduction, and share repurchases.
SM Energy Company reported strong fourth quarter and full-year 2025 results, with record net production of 75.5 MMBoe and record operating cash flow of $2.01 billion. Adjusted EBITDAX reached $2.26 billion, up 13% year-over-year, as volumes grew despite weaker oil prices.
Full-year net income was $648 million, or $5.64 per diluted share, versus $770 million in 2024, while adjusted net income was $623 million, or $5.42 per share. Adjusted free cash flow rose 28% to $620 million, and net debt fell by $437 million to $2.37 billion, improving leverage to 1.05x net debt-to-adjusted EBITDAX.
The company closed its merger with Civitas Resources in early 2026 and agreed to sell certain South Texas assets for $950 million, advancing a $1.0 billion divestiture target. The board raised the annual fixed dividend policy by 10% to $0.88 per share and declared a quarterly dividend of $0.22 payable on March 23, 2026. For 2026, SM Energy plans $2.65–$2.85 billion in capital expenditures and 146–153 MMBoe of production, prioritizing free cash flow, debt reduction, and share repurchases.
SM Energy Company agreed to sell certain South Texas assets in its southern Maverick Basin position to Caturus Energy for a cash purchase price of $950 million, subject to customary adjustments. The package includes approximately 61,000 net acres, about 260 producing wells and related facilities in Webb County, Texas.
These properties are expected to produce roughly 37–39 MBoe/d in 2026 and generate about $160 million of asset-level cash flow for the year, with associated net proved reserves of about 168 MMBoe as of December 31, 2025. The transaction has an effective date of February 1, 2026 and is expected to close in the second quarter of 2026, subject to customary conditions including Hart-Scott-Rodino clearance and required consents.
SM Energy plans to prioritize debt reduction with the proceeds in order to accelerate deleveraging and strengthen its balance sheet, and it intends to share an updated return-of-capital program when it reports earnings the following week.
Energy Company reported that its Audit Committee dismissed Ernst & Young LLP as independent auditor and appointed Deloitte & Touche LLP for the fiscal year ending December 31, 2026. The change will take effect after EY completes the audit of the 2025 consolidated financial statements.
EY’s reports on the 2023 and 2024 financial statements were unqualified and not modified for uncertainty, scope, or accounting principles. The company states there were no disagreements with EY and no reportable events through February 4, 2026, and it did not consult Deloitte on accounting or audit matters before this appointment.
SM Energy Co director Wouter T. van Kempen reported a Form 4 transaction involving company common stock. On February 5, 2026, 75,217 shares of common stock at $18.87 per share were withheld to cover tax obligations when restricted stock units vested. After this tax-withholding event, van Kempen directly beneficially owned 135,385 shares of SM Energy Co common stock.