SM Energy Co

Our long-term vision and strategy is to sustainably grow value for all of our stakeholders as a premier operator of top-tier assets. We are focused on operational execution, maintaining and expanding our portfolio quality and depth, and returning capital to stockholders through our Stock Repurchase Program and fixed dividend, while maintaining a strong balance sheet.

We expect our total 2024 capital program to be between $1.16 billion and $1.20 billion, excluding acquisitions, which we expect to fund with cash flows from operations and cash on hand. We plan to focus our 2024 capital program on highly economic oil development projects in both our Midland Basin and South Texas assets, including the assets we acquired during 2023. We expect to repurchase additional shares of our outstanding common stock through our Stock Repurchase Program during 2024, under which $214.9 million remains available for repurchases through December 31, 2024, as of the filing of this report.