-- 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.
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