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AI brief of an SEC Form 8-K · SM Energy (SM)

SM Energy expects $220 million Q2 2026 derivative settlement loss; oil realized $96.85 per Bbl

Mixed Impact 3 of 5 earnings Written later

SM Energy said it expects a net derivative settlement loss of about $220 million for the second quarter of 2026. Its average realized oil price before derivative settlements was $96.85 per barrel, but $80.62 per barrel after them, so hedging reduced the oil price it realized. The figures are preliminary, the filing does not give revenue, earnings per share or full-year guidance, and results remain subject to the company's closing process.

Key points

  • Average oil price realized before derivative settlements was $96.85 per Bbl for the three months ended June 30, 2026; after net derivative settlements it was $80.62 per Bbl.
  • Average gas price realized was $0.17 per Mcf before and $1.54 per Mcf after net derivative settlements.
  • Average NGL price realized was $24.69 per Bbl before and $24.83 per Bbl after net derivative settlements.
  • The company anticipates a net derivative settlement loss of approximately $220 million for the second quarter of 2026.

The filing

CompanySM Energy (SM)
Form8-K, current report
Filed with the SECJul 16, 2026, 4:15 PM ET
Accession number0000893538-26-000104

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 16, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.