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SM Energy SM Capitalized Exploratory Well Costs
Capitalized Exploratory Well Costs 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:CapitalizedExploratoryWellCosts.
The source filing: SM Energy’s 10-K, filed February 26, 2026.
- Filed
- Feb 26, 2026, 8:56 AM EST
- Fiscal year
- FY2025
- Accession
- 0000893538-26-000032
| Line item | For the Years Ended December 31, 2025 | For the Years Ended December 31, 2024 | For the Years Ended December 31, 2023 |
|---|---|---|---|
| Beginning balance | $33 | $71 | $49 |
| Additions to capitalized exploratory well costs pending the determination of net proved reserves | 22 | 33 | 71 |
| Reclassifications based on the determination of net proved reserves | (33) | (67) | (48) |
| Capitalized exploratory well costs charged to expense (1) | — | (4) | — |
| Ending balance | $22 | $33 | $71 |
ITEM 8. CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
FAQ
- What is SM Energy's capitalized exploratory well costs?
- SM Energy (SM) reported capitalized exploratory well costs of $22M in Q4 2025.
- How has SM Energy's capitalized exploratory well costs changed year-over-year?
- SM Energy's capitalized exploratory well costs decreased by 33.3% year-over-year, from $33M to $22M.
- What is the long-term trend for SM Energy's capitalized exploratory well costs?
- Over 5 years (2020 to 2025), SM Energy's capitalized exploratory well costs has grown at a 31.0% compound annual growth rate (CAGR), from $5.7M to $22M.
- What does capitalized exploratory well costs mean?
- This metric captures the costs associated with drilling exploratory wells that have been capitalized on the balance sheet while the company determines if the wells contain proved reserves. It represents a significant component of capital allocation toward future growth and reserve replacement. Investors monitor this to assess the company's success rate in exploration and the efficiency of its capital investment in finding new hydrocarbon resources.
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