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SM Energy SM Unproved properties

Unproved properties at other companies

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Antero ResourcesAR
$1.11B+25.7%
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Permian ResourcesPR
$2.01B+4.9%
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Chord EnergyCHRD

Other financials

Income statement

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Revenue$1.5B+75.0%
Gross profit$1.1B+69.5%
Operating income-$298.0M-208%
Net income-$335.0M-284%
EPS (diluted)-$1.68-206%

Balance sheet

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Cash & equivalents$449.0M+831,381%
Total debt$138.0M+111%
Total equity$6.9B+55.9%
Total assets$19.1B+118%

Cash flow

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Operating cash flow$640.0M+32.5%
CapEx$12.8M
Free cash flow$500.6M+43.7%

Valuation

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Market cap$6.51B+117%
P/E49.8×+46.1×
P/S1.7×+0.7×

Profitability

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Gross margin71.3%-4.4pp
Operating margin11.2%-28.2pp
Net margin3.5%-24.1pp
FCF margin50.1%+2.8pp

Returns & leverage

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Return on equity2.3%-17.9pp
Debt / equity0.0×
Current ratio0.4×-0.2×

Where this comes from

Reported directly by SM Energy in its filing.

Tagged under the XBRL concept us-gaap:UnprovedOilAndGasPropertySuccessfulEffortMethod.

The official record: SM Energy’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SM Energy's unproved properties?
SM Energy (SM) reported unproved properties of $1.08B in Q1 2026.
How has SM Energy's unproved properties changed year-over-year?
SM Energy's unproved properties increased by 41.8% year-over-year, from $760.13M to $1.08B.
What is the long-term trend for SM Energy's unproved properties?
Over 5 years (2020 to 2025), SM Energy's unproved properties has grown at a -8.4% compound annual growth rate (CAGR), from $714.6M to $460M.
What does unproved properties mean?
This represents the acquisition and exploration costs associated with oil and gas properties that have not yet been proven to contain reserves. It captures the company's investment in future growth opportunities and exploratory acreage. Investors monitor this to gauge the company's pipeline for future reserve replacement.