secwatch.observer — SEC 8-K summary
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Issuer:     SM Energy Co (SM)
CIK:        0000893538
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0000893538-24-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SM Energy beats 2023 production guidance, lowers capex, net debt $969M, return ~$300M
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- Full-year 2023 production 55.5 MMBoe (152.0 MBoe/d), up 5% YoY, exceeding guidance; Q4 production 14.1 MMBoe at 43% oil.
- Estimated 2023 capex $1,070M (incl. accruals), below guided range; Q4 capex $268M, below low end of guidance.
- Net debt ~$969M at year-end (long-term debt $1,585M, cash $616M); leverage ratio expected to improve from Q3.
- Returned ~$300M to shareholders in 2023 via share repurchases (6.93M shares retired) and dividends; $215M remaining on buyback authorization.
- Full financial results and 2024 operating plan to be released on Feb 21 after market close, with Q&A call Feb 22.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000003/0000893538-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/893538/000089353824000003/sm-20240201.htm
  HTML page:      https://secwatch.observer/filing/0000893538-24-000003

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