SM Energy SM Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Including Assessed Tax by Product | ||||||
| Crude Oil | $1.26B+91.8% | $580.05M-14.9% | $669.11M+25.8% | $653.38M+22.7% | $658M+49.2% | |
| Natural Gas Liquids (NGL) | $91M+49.2% | $51.5M-24.7% | $57.74M-3.8% | $53.7M-3.6% | $61M+19.9% | |
| Natural Gas | $124M+3.3% | $70.75M-17.2% | $84.16M+66.5% | $77.99M+72.6% | $120M+76.9% | |
| Revenue from Contract with Customer, Including Assessed Tax by Geography | ||||||
| DJ Basin | $342M— | —— | —— | —— | $0— | |
| Midland Basin | $729M+85.5% | $293.16M-24.1% | $344.19M-15.3% | $341.86M-14.9% | $393M+5.4% | |
| South Texas | $200M-14.2% | $211.48M-13.9% | $235.31M-0.3% | $211.48M-8.7% | $233M+24.7% | |
| Uinta Basin | $206M-3.7% | $197.66M-3.1% | $231.51M— | $231.74M— | $214M— | |
| Relative percentage by Geography | ||||||
| DJ Basin | 23%— | —— | —— | —— | 0%— | |
| Midland Basin | 49%+2.0pp | —— | —— | —— | 47%— | |
| South Texas | 14%-14.0pp | —— | 29%-8.0pp | 27%-10.0pp | 28%-5.0pp | |
| Uinta Basin | 14%-11.0pp | —— | 29%— | 30%— | 25%— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does SM Energy break its business down?
- SM Energy (SM) reports revenue from contract with customer, including assessed tax by product across 3 parts — Crude Oil, Natural Gas Liquids (NGL) and Natural Gas. Each is extracted from the segment footnotes and tracked over time.
- Where does SM Energy's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in SM Energy's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
