secwatch.observer — SEC 8-K summary
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Issuer:     SM Energy Co (SM)
CIK:        0000893538
Form:       8-K
Filed at:   2023-06-21T23:59:59+00:00
Accession:  0000893538-23-000056
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SM Energy announces Q2 2023 activity: 2.6M shares repurchased, production up, 22,800 acre acquisition
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- Repurchased 2.6 million shares (2.2% of outstanding) in Q2 2023 under $500M program; total repurchases 5.3M shares since inception.
- Expects to exceed high-end of Q2 production guidance due to higher oil, gas, and NGL volumes from South Texas.
- Expects to underspend low-end of Q2 capital and LOE guidance due to cost deflation; plans additional Midland Basin rig in October 2023.
- Entered agreement to acquire 20,000 net acres in Dawson and Martin counties, Texas for $93.5M with 1,250 Boe/d production (~90% oil).
- Acquired additional 2,800 net acres adjacent to prior Midland Basin acquisition, bringing combined acreage to 9,100 net acres.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/893538/000089353823000056/0000893538-23-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/893538/000089353823000056/sm-20230621.htm
  HTML page:      https://secwatch.observer/filing/0000893538-23-000056

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