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SM Energy SM Payments to Explore and Develop Oil and Gas Properties

Payments to Explore and Develop Oil and Gas Properties at other companies

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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 / equity0×0.0×
Current ratio0.4×-0.2×

Where this comes from

Reported directly by SM Energy in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties.

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 payments to explore and develop oil and gas properties?
SM Energy (SM) reported payments to explore and develop oil and gas properties of $555M in Q1 2026.
How has SM Energy's payments to explore and develop oil and gas properties changed year-over-year?
SM Energy's payments to explore and develop oil and gas properties increased by 34.1% year-over-year, from $414M to $555M.
What is the long-term trend for SM Energy's payments to explore and develop oil and gas properties?
Over 4 years (2021 to 2025), SM Energy's payments to explore and develop oil and gas properties has grown at a 20.8% compound annual growth rate (CAGR), from $674.84M to $1.44B.
What does payments to explore and develop oil and gas properties mean?
This represents the cash outflows dedicated to the exploration of new reserves and the development of existing oil and gas properties. It includes costs associated with drilling, completion, and infrastructure necessary to bring production online. This is a primary measure of the company's commitment to organic growth and reserve replacement.