Highest-materiality recent filing
SM Energy redeems $419M of 6.75% senior notes due 2026
Redeemed $419,235,000 aggregate principal of 6.75% Senior Notes due 2026 on June 1, 2026.
SM Energy boosts CEO & COO LTIP targets; CEO severance multiplier raised to 3.0x
CEO McDonald LTIP target raised to $5.8M (40% RSU, 60% PSU); COO McKenna to $2.4M (50% each).
Q1 net loss of $1.68/diluted share (non-cash derivative loss); adjusted EPS $1.55.
SM Energy closes $950M South Texas asset sale; redeems $819M in 2026 notes
Closed South Texas divestiture for $950M cash; net proceeds ~$900M after adjustments.
Average realized oil price $73.69/Bbl, gas $1.72/Mcf, NGLs $21.58/Bbl for Q1 2026.
SM Energy issues $1.0B of 6.625% Senior Notes due 2034
$1.0B aggregate principal amount, 6.625% coupon, matures April 15, 2034.
SM Energy prices upsized $1.0B of 6.625% senior notes due 2034 to refinance 2028 notes
$1.0B aggregate principal amount of 6.625% senior notes due 2034 priced at par.
SM Energy launches $750M notes offering and tender for high-coupon 2028 notes
Plans to offer $750M senior notes due 2034 to fund tender offer for up to $750M of its 8.375% notes due 2028.
SM Energy Q4/FY2025: record production 75.5 MMBoe, record OCF $2.01B, raises dividend 10%
Full-year 2025 net income $648M ($5.64 diluted EPS); adjusted net income $623M ($5.42). Record production 75.5 MMBoe (+21% YoY), 53% oil.
SM Energy sells S. Texas assets to Caturus for $950M cash; proceeds to reduce debt
Sale of ~61,000 net acres and ~260 producing wells in Webb County, TX for $950M cash.
Each Civitas share converted to 1.45 SM shares; combined company trades as SM under same name.
SM Energy and Civitas stockholders approve merger; expected close Jan 30, 2026
Stockholders of both SM Energy and Civitas voted in favor of all proposals necessary for the all-stock merger.
SM Energy names new CEO and board slate contingent on Civitas merger close
Four directors (Bailo, Powers, Sullivan, Vogel) resign effective at closing of First Merger; no disagreement cited.
SM Energy and Civitas announce merger leadership, $1B+ divestiture target, $200M synergies
Beth McDonald named CEO; Wade Pursell CFO; Blake McKenna COO; James Lebeck EVP post-close.
SM Energy to acquire Civitas in $12.8B all-stock merger; 1.45 shares per CIVI share
Each Civitas share exchanges for 1.45 SM Energy shares; combined enterprise value ~$12.8B; expected close Q1 2026.
SM Energy Q3 net income $155.1M, production up 26% YoY, adjusted FCF +80% to $234.3M
Net income $155.1M ($1.35 diluted EPS); adjusted net income $153.7M ($1.33 diluted).
SM Energy to acquire Civitas Resources in all-stock merger at 1.45x exchange ratio
Each Civitas share will be exchanged for 1.45 shares of SM Energy common stock.
CEO Herb Vogel plans retirement by March 2026; Elizabeth McDonald appointed President, COO
Herbert S. Vogel to retire as CEO on March 1, 2026; will remain a director until May 2026 annual meeting.
SM Energy Q2 record production 209.1 MBoe/d beats guidance; net income $201.7M; debt paid to zero
Record quarterly net production of 19.0 MMBoe (209.1 MBoe/d), 5% above guidance mid-point, oil 55% (115.7 Mbbl/d).
SM Energy Q1 production 197.3 MBoe/d (high-end); net income $182.3M, up 39% YoY; Uinta outperforms
Net production 17.8 MMBoe (197.3 MBoe/d), 53% oil; total daily production +36% YoY, oil +63% YoY driven by Uinta Basin assets.
SM Energy reports record 2024 production and reserves; 2025 guidance up 22% YoY; officer changes
Record oil production 29.4 MMBbls (+23% YoY); total production 62.4 MMBoe (+12% YoY).
SM Energy files amendment to 8-K with financial statements for its 80% Uinta Basin acquisition
Acquisition of an undivided 80% interest in Uinta Basin oil and gas assets from XCL Sellers closed October 1, 2024.
SM Energy Q3 EPS $2.09, adjusted $1.62; closes $2.1B Uinta acquisition; raises dividend
Net income $240.5M ($2.09 diluted EPS); adjusted EPS $1.62; production 15.6 MMBoe (170.0 MBoe/d) above guidance.
SM Energy closes $2.1B Uinta Basin acquisition of 80% interest in XCL Resources assets
Net purchase price of $2.1B for 80% undivided interest; $1.9B cash paid at closing on Oct 1, 2024.
Q2 net income $210.3M ($1.82 diluted EPS); adjusted EPS $1.85; production 158.5 MBoe/d (46% oil).
SM Energy issues $1.5B in senior notes, redeems $349.1M of 5.625% notes due 2025
Issued $750M 6.750% Senior Notes due 2029 and $750M 7.000% Senior Notes due 2032 on July 25, 2024.
SM Energy announces $1.3B note offering to finance XCL acquisition; raises dividend, $500M buyback
Plans to offer $650M senior notes due 2029 and $650M senior notes due 2032 in private placement.
SM Energy prices $1.5B senior notes offering to fund Uinta Basin acquisition and redeem 2025 notes
Priced $750M 6.750% senior notes due 2029 and $750M 7.000% senior notes due 2032, both at par.
SM Energy amends credit agreement to permit up to $1.2B in debt for Uinta Basin acquisition from XCL
Entered First Amendment to credit agreement on July 2, 2024 to facilitate acquisition of Uinta Basin oil and gas assets from XCL Resources.
SM Energy acquires Uinta Basin assets for $2.55B; NOG takes 20% stake
Acquisition of Uinta Basin assets for $2.55B cash; SM's share $2.04B (80%), NOG's $510M (20%).
Q1 net production 145.1 MBoe/d (44% oil) exceeded guidance; net income $131M ($1.13 diluted EPS).
SM Energy FY2023 net income $817.9M ($6.86 EPS); 2024 production guidance raised 3-4%
Full-year 2023 net income $817.9M ($6.86 diluted EPS); adjusted EPS $5.89. Q4 net income $247.1M ($2.12).
SM Energy beats 2023 production guidance, lowers capex, net debt $969M, return ~$300M
Full-year 2023 production 55.5 MMBoe (152.0 MBoe/d), up 5% YoY, exceeding guidance; Q4 production 14.1 MMBoe at 43% oil.
SM Energy Q3 net income $222.3M, raises dividend 20% to $0.18/quarter
Q3 net income $222.3M ($1.88 diluted EPS); adjusted EPS $1.73; Adjusted EBITDAX $475.6M.
SM Energy Q2 net income $149.9M ($1.25/sh) vs $2.60/sh YoY; acquires 20,000 Midland acres for $90.6M
Net income $149.9M ($1.25 diluted EPS); adjusted EPS $1.28; Adjusted EBITDAX $390.2M.
Repurchased 2.6 million shares (2.2% of outstanding) in Q2 2023 under $500M program; total repurchases 5.3M shares since inception.
On March 24, 2025, Dr. Stephen R. Brand informed the Company of his decision to retire from the Board of Directors (the “ Board ”) of SM Energy Company (the “ Company ”) effective upon the adjournment of the Company’s next annual meeting of stockholders, currently scheduled for May 22, 2025.
Patrick A. Lytle, who currently serves in the role of Vice President - Chief Accounting Officer and Controller will be promoted to the position of Senior Vice President - Finance, effective March 2, 2025.
Effective March 2, 2025, Alan Bennett will be appointed as Vice President - Controller of the Company.
Effective November 26, 2024, the Board of Directors (“Board”) of SM Energy Company (“Company”) fixed the number of directors at ten and appointed Dr. Ashwin Venkatraman to serve on the Board
On September 9, 2024, SM Energy Company (the “ Company ”) announced that the Board of Directors of the Company had appointed Beth McDonald, age 45, as Executive Vice President and Chief Operating Officer of the Company.
Effective February 16, 2024, the Board of Directors (“ Board ”) of the Company fixed the number of directors at nine and appointed Barton R. Brookman to serve on the Board until the next annual meeting of the Company’s stockholders, or until his successor is elected and qualified or his earlier resignation or removal.
On December 30, 2022, SM Energy Company (“ Company ”) announced that David Copeland, its Executive Vice President and General Counsel, has advised its Board of Directors of his intention to resign from his current position effective December 31, 2022.
Effective November 22, 2021, the Board of Directors (“ Board ”) of SM Energy Company (“ Company ”) appointed Anita M. Powers to serve as a director of the Company until the next annual meeting of the Company’s stockholders, or until her successor is elected and qualified or her earlier resignation or removal.
Max materiality 0.90 · Median 0.70 · Most common event earnings