SM Energy Q1 Production Jumps Following Civitas Merger, Raises 2026 Outlook

-- SM Energy Company (SM) reported Q1 earnings on Wednesday, showing net production volumes of 33.4 million barrels of oil equivalent, up from 17.8 mmboe a year earlier following the Civitas Resources merger.

Oil production volumes increased to 17.1 mmbbl for the quarter ended March 31, up from 9.3 mmbbl a year earlier.

Natural gas production climbed to 72.4 billion cubic feet for the quarter from 36.4 Bcf a year earlier.

Natural gas liquids production rose to 4.2 mmbbl for Q1, compared with 2.4 mmbbl a year earlier.

SM Energy completed its merger with Civitas Resources on Jan. 30, 2026, adding Permian and DJ Basin assets.

SM Energy raised its full-year 2026 production guidance to 150 mmboe to 157 mmboe and an average daily total production of 410,000 boe per day to 430,000 boe/d.

SM Energy maintained its 2026 capital expenditure plan at $2.65 billion to $2.85 billion and expects to drill about 245 net wells during the year.

SM Energy completed the $950 million sale of certain South Texas assets on Apr. 30 and plans to use about $900 million of net proceeds to retire outstanding 2026 senior notes.

Price: $27.50, Change: $-1.08, Percent Change: -3.78%

RBC Maintains Suncor Energy's Outperform Rating, C$100 Price Target

RBC Capital Markets on Wednesday reiterated Suncor Energy's (SU.TO) outperform rating and C$100 price target, with the bank noting the company delivered another quarter of "robust performance" punctuated by a "jumbo-sized" downstream pre-tax margin of $2 billion (including FIFO gains) in part driven by record refined product sales of 680,900 bbl/d.RBC's updated production outlook of 862,100 bbl/d, anchored by a $5.7 billion capital program, remains relatively unchanged."Suncor's first-quarter results reinforced our confidence that its culture of sustained high performance is taking deep root and enabling the company to be on the podium, come what may," RBC said. "We believe the ingredients are in place for the company to earn a premium relative valuation, conceivably over the next year," RBC added.Suncor is RBC's favorite integrated producer in Canada and is part of its Global Energy Best Ideas list.Suncor traded at $85.70 per share at last look Thursday on the Toronto Stock Exchange.Price: $85.70, Change: $-2.21, Percent Change: -2.51%

$SU.TO

SM Energy Q1 Production Jumps Following Civitas Merger, Raises 2026 Outlook

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