SM Energy Co

For the period ended Mar 31, 2026. Filed May 7, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 7, 2026

SM$29.52+1.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Balance Sheets March, and December 31,

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in millions, except share data)

	March 31,2026	December 31,2025
ASSETS
Current assets:
Cash and cash equivalents	$449	$368
Accounts receivable	915	331
Derivative assets	201	83
Prepaid expenses and other	106	29
Total current assets	1,671	811
Property and equipment (successful efforts method):
Proved oil and gas properties	22,280	16,012
Accumulated depletion, depreciation, and amortization	(7,891)	(8,793)
Unproved oil and gas properties, net of valuation allowance of $12 and $12, respectively	1,078	460
Wells in progress	835	458
Properties held for sale, net	666	—
Other property and equipment, net of accumulated depreciation of $65 and $63, respectively	133	65
Total property and equipment, net	17,101	8,202
Noncurrent assets:
Derivative assets	27	6
Other noncurrent assets	345	234
Total noncurrent assets	372	240
Total assets	$19,144	$9,253
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses	$2,221	$690
Senior Notes, net	1,235	419
Derivative liabilities	703	2
Other current liabilities	121	58
Total current liabilities	4,280	1,169
Noncurrent liabilities:
Revolving credit facility	—	—
Senior Notes, net	6,741	2,296
Asset retirement obligations	477	150
Deferred tax liabilities, net	315	724
Derivative liabilities	2	2
Other noncurrent liabilities	461	102
Total noncurrent liabilities	7,996	3,274
Commitments and contingencies (note 7)
Stockholders’ equity:
Common stock, $0.01 par value - authorized: 400,000,000 and 200,000,000 shares, respectively; issued and outstanding: 239,696,577 and 114,630,905 shares, respectively	2	1
Additional paid-in capital	3,962	1,517
Retained earnings	2,903	3,291
Accumulated other comprehensive income	1	1
Total stockholders’ equity	6,868	4,810
Total liabilities and stockholders’ equity	$19,144	$9,253

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.