---
schema_version: "secwatch.filing_event.v1"
accession: "0000893538-26-000104"
form_type: "8-K"
ticker: "SM"
cik: "0000893538"
company_name: "SM Energy Co"
filed_at: "2026-07-16T20:15:15+00:00"
generated_at: "2026-07-16T20:16:09.437208+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SM Energy pre-announces Q2 2026 realized prices; net derivative loss of ~$220M

## Summary
- Oil realized price before derivatives $96.85/Bbl; after derivatives $80.62/Bbl.
- Gas realized price before derivatives $0.17/Mcf; after derivatives $1.54/Mcf.
- NGLs realized price before derivatives $24.69/Bbl; after derivatives $24.83/Bbl.
- Net derivative settlement loss for Q2 2026 estimated at ~$220 million.
- Preliminary data; full Q2 results subject to completion of financial reporting.

## SEC filing metadata
- accession: 0000893538-26-000104
- form_type: 8-K
- ticker: SM
- cik: 0000893538
- company_name: SM Energy Co
- filed_at: 2026-07-16T20:15:15+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/893538/000089353826000104/0000893538-26-000104-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/893538/000089353826000104/sm-20260716.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000893538-26-000104
- JSON: https://secwatch.observer/filing/0000893538-26-000104.json
- Plain text: https://secwatch.observer/filing/0000893538-26-000104.txt

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