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SM Energy SM Exploration Expense
Exploration Expense at other companies
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Where this comes from
Reported directly by SM Energy in its filing.
Tagged under the XBRL concept us-gaap:ExplorationExpense.
The source filing: SM Energy’s 10-Q, filed August 6, 2026.
- Filed
- Aug 6, 2026, 8:55 AM EDT
- Fiscal quarter
- Q2 FY2026
- Calendar quarter
- Q2 2026
- Accession
- 0000893538-26-000121
| Line item | For the Three Months Ended June 30, 2026 | For the Three Months Ended June 30, 2025 | For the Six Months Ended June 30, 2026 | For the Six Months Ended June 30, 2025 |
|---|---|---|---|---|
| Operating expenses: | ||||
| Oil, gas, and NGL production expense | 556 | 224 | 984 | 449 |
| Depletion, depreciation, and amortization | 592 | 293 | 1,024 | 563 |
| Exploration | 21 | 15 | 47 | 27 |
| General and administrative | 79 | 42 | 253 | 81 |
| Net derivative (gain) loss | (272) | (78) | 425 | (61) |
| Other operating expense | 28 | 2 | 48 | 7 |
| Total operating expenses | 1,004 | 498 | 2,781 | 1,066 |
Item 1. Financial Statements (unaudited)
FAQ
- What is SM Energy's exploration expense?
- SM Energy (SM) reported exploration expense of $21M in Q2 2026.
- How has SM Energy's exploration expense changed year-over-year?
- SM Energy's exploration expense increased by 40.0% year-over-year, from $15M to $21M.
- What is the long-term trend for SM Energy's exploration expense?
- Over 4 years (2021 to 2025), SM Energy's exploration expense has grown at a 9.7% compound annual growth rate (CAGR), from $39.3M to $56.88M.
- What does exploration expense mean?
- This metric captures the costs incurred during the search for new oil and gas reserves, including geological and geophysical studies, exploratory drilling, and leasehold acquisitions that do not result in proved reserves. It reflects the company's appetite for risk and its long-term strategy for replenishing its asset base. High levels of this expense indicate an aggressive growth strategy through organic discovery.
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