---
schema_version: "secwatch.filing_event.v1"
accession: "0000893538-25-000126"
form_type: "8-K"
ticker: "SM"
cik: "0000893538"
company_name: "SM Energy Co"
filed_at: "2025-10-16T23:59:59+00:00"
generated_at: "2026-05-17T03:39:13.017960+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# SM Energy borrowing base reaffirmed at $3.0B; commitment unchanged at $2.0B

## Summary
- Semi-annual borrowing base redetermination: $3.0B reaffirmed, elected commitment stays at $2.0B.
- Third Amendment eliminates prior springing maturity tied to senior notes; replaces with short-term debt/availability test.
- Amendment required borrowing availability >80% of commitment if unsecured debt >$50M matures within 91 days.
- CFO Wade Pursell cited lender group's trust in SM's disciplined strategy and financial strength.

## SEC filing metadata
- accession: 0000893538-25-000126
- form_type: 8-K
- ticker: SM
- cik: 0000893538
- company_name: SM Energy Co
- filed_at: 2025-10-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/893538/000089353825000126/0000893538-25-000126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/893538/000089353825000126/sm-20251013.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000893538-25-000126
- JSON: https://secwatch.observer/filing/0000893538-25-000126.json
- Plain text: https://secwatch.observer/filing/0000893538-25-000126.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.