| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 449,000 | 368,000 | 162,251 | 101,877 |
| Accounts receivable | 915,000 | 331,000 | 367,688 | 364,296 |
| Derivative assets | 201,000 | 83,000 | 68,567 | 78,504 |
| Prepaid expenses and other | 106,000 | 29,000 | 34,452 | 30,413 |
| Total current assets | 1,671,000 | 811,000 | 632,958 | 575,090 |
| Proved oil and gas properties | 22,280,000 | 16,012,000 | 15,653,507 | 15,378,464 |
| Accumulated depletion, depreciation, and amortization | 7,891,000 | 8,793,000 | 8,477,647 | 8,157,601 |
| Unproved oil and gas properties, net of valuation allowance of 12 and 12, respectively | 1,078,000 | 460,000 | 592,493 | 589,842 |
| Wells in progress | 835,000 | 458,000 | 424,891 | 395,532 |
| Properties held for sale, net | 666,000 | NaN | NaN | NaN |
| Other property and equipment, net of accumulated depreciation of 65 and 63, respectively | 133,000 | 65,000 | 71,669 | 54,531 |
| Total property and equipment, net | 17,101,000 | 8,202,000 | 8,264,913 | 8,260,768 |
| Derivative assets | 27,000 | 6,000 | 4,677 | 4,871 |
| Other noncurrent assets | 345,000 | 234,000 | 186,952 | 152,506 |
| Total noncurrent assets | 372,000 | 240,000 | 191,629 | 157,377 |
| Total assets | 19,144,000 | 9,253,000 | 9,089,500 | 8,993,235 |
| Accounts payable and accrued expenses | 2,221,000 | 690,000 | 674,157 | 794,002 |
| Senior notes, net | 1,235,000 | 419,000 | 418,593 | NaN |
| Derivative liabilities | 703,000 | 2,000 | 9,888 | 19,003 |
| Other current liabilities | 121,000 | 58,000 | 32,688 | 24,942 |
| Total current liabilities | 4,280,000 | 1,169,000 | 1,135,326 | 837,947 |
| Revolving credit facility | 0 | 0 | 0 | 0 |
| Senior notes, net | 6,741,000 | 2,296,000 | 2,294,118 | 2,711,148 |
| Asset retirement obligations | 477,000 | 150,000 | 150,127 | 150,095 |
| Deferred tax liabilities, net | 315,000 | 724,000 | 690,446 | 589,756 |
| Derivative liabilities | 2,000 | 2,000 | 4,852 | 12,480 |
| Other noncurrent liabilities | 461,000 | 102,000 | 101,544 | 101,711 |
| Total noncurrent liabilities | 7,996,000 | 3,274,000 | 3,241,087 | 3,565,190 |
| Common stock, 0.01 par value - authorized 400,000,000 and 200,000,000 shares, respectively issued and outstanding 239,696,577 and 114,630,905 shares, respectively | 2,000 | 1,000 | 1,146 | 1,146 |
| Additional paid-in capital | 3,962,000 | 1,517,000 | 1,507,875 | 1,516,542 |
| Retained earnings | 2,903,000 | 3,291,000 | 3,205,190 | 3,073,545 |
| Accumulated other comprehensive income | 1,000 | 1,000 | -1,124 | -1,135 |
| Total stockholders equity | 6,868,000 | 4,810,000 | 4,713,087 | 4,590,098 |
| Total liabilities and stockholders equity | 19,144,000 | 9,253,000 | 9,089,500 | 8,993,235 |
SM Energy Co (SM)
SM Energy Co (SM)