SM Energy Company
10/14/2026 | Press release | Distributed by Public on 10/14/2026 14:34
Business/Financial Results (Form 8-K)
Item 2.02 Results of Operations and Financial Condition
In accordance with General Instruction B.2. of Form 8-K, the following information shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The furnishing of this information shall not constitute an admission as to the materiality or completeness of any information herein.
SM Energy Company (the "Company") is providing the following summary of earnings considerations that management believes will impact results for the third quarter of 2026. This summary is intended solely to provide information regarding preliminary, unaudited estimates of these factors. It is not comprehensive of all results for, or changes that have occurred during, the third quarter of 2026 and does not constitute an estimate of the Company's third quarter 2026 earnings. In addition, this summary may not reflect all adjustments and charges required to fully account for changes in industry conditions, is preliminary in nature, and remains subject to completion of the Company's financial reporting process for the third quarter of 2026.
The Company presents in this Item 2.02 certain information for the three months ended September 30, 2026, regarding its realized prices and commodity derivative activity.
Realized Prices
The following table presents information about average realized prices:
| For the Three Months Ended | |||||
| September 30, 2026 | |||||
| Realized price (before the effect of net derivative settlements): | |||||
| Oil (per Bbl) | $ | 85.76 | |||
| Gas (per Mcf) | $ | 2.48 | |||
| NGLs (per Bbl) | $ | 29.40 | |||
Commodity Derivative Activity
For the third quarter of 2026, the Company anticipates a net derivative settlement loss of $207 million. This amount reflects settlements of commodity derivatives during the quarter and excludes changes in the fair value of unsettled derivative positions, which could be material and will be reported with the Company's third quarter results.
Forward Looking Statements
This Current Report on Form 8-K contains "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements, other than statements of historical fact, including estimates for factors that may impact the Company's results for the third quarter of 2026, are forward-looking statements.
Forward-looking statements are based on management's current estimates, assumptions and expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements include, without limitation, statements regarding commodity prices, realized prices, derivative activity, market conditions, anticipated financial results and other factors affecting the Company's results of operations. The information provided herein is preliminary in nature, is subject to completion of the Company's financial reporting processes for the third quarter of 2026, and may change.
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