$SM
SM Energy Co Stock $sm

$sm Overview Financials Valuation SEC Filings Company Website

2015 Q4 Form 10-Q Financial Statement

#000089353815000104 Filed on October 28, 2015

Income Statement

Concept	2015 Q4	2015 Q3	2014 Q3
Revenue	$299.2M	$371.2M	$618.8M
YoY Change	-49.73%	-40.02%	0.93%
Cost Of Revenue	$169.2M	$184.6M	$178.4M
YoY Change	-13.76%	3.48%	12.27%
Gross Profit	$130.0M	$184.2M	$445.8M
YoY Change	-67.42%	-58.68%	-3.17%
Gross Profit Margin	43.45%	49.63%	72.04%
Selling, General & Admin	$33.60M	$37.80M	$41.70M
YoY Change	-35.63%	-9.35%	23.01%
% of Gross Profit	25.85%	20.52%	9.35%
Research & Development	$37.90M	$19.70M	$34.60M
YoY Change	-23.74%	-43.06%	112.27%
% of Gross Profit	29.15%	10.69%	7.76%
Depreciation & Amortization	$240.0M	$243.9M	$183.3M
YoY Change	9.49%	33.06%	-6.38%
% of Gross Profit	184.62%	132.41%	41.12%
Operating Expenses	$315.2M	$304.1M	$258.5M
YoY Change	-0.32%	17.64%	-3.18%
Operating Profit	-$185.2M	$32.10M	$357.0M
YoY Change	-323.67%	-91.01%	159.65%
Interest Expense	$91.10M	$33.16M	$22.62M
YoY Change	-84.53%	46.58%	-7.62%
% of Operating Profit		103.28%	6.34%
Other Income/Expense, Net	$600.0K	$27.00K	-$672.0K
YoY Change	-700.0%	-104.02%	-2500.0%
Pretax Income	-$537.1M	-$1.026M	$333.7M
YoY Change	-201.21%	-100.31%	195.23%
Income Tax	-$196.9M	-$4.140M	$124.7M
% Of Pretax Income			37.38%
Net Earnings	-$340.3M	$3.114M	$208.9M
YoY Change	-202.59%	-98.51%	195.57%
Net Earnings / Revenue	-113.74%	0.84%	33.77%
Basic Earnings Per Share		$0.05	$3.10
Diluted Earnings Per Share	-$5.004M	$0.05	$3.05
COMMON SHARES
Basic Shares Outstanding	67.97M shares	67.96M shares	67.38M shares
Diluted Shares Outstanding		68.12M shares	68.43M shares

Balance Sheet

Concept	2015 Q4	2015 Q3	2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$0.00	$200.0K	$300.0K
YoY Change	-100.0%	-33.33%	50.0%
Cash & Equivalents	$18.00K	$197.0K	$269.0K
Short-Term Investments
Other Short-Term Assets	$419.4M	$366.4M	$67.20M
YoY Change	-9.24%	445.24%	3.86%
Inventory
Prepaid Expenses
Receivables	$134.1M	$171.1M	$304.2M
Other Receivables	$41.20M	$0.00	$0.00
Total Short-Term Assets	$519.0M	$537.7M	$371.6M
YoY Change	-30.34%	44.69%	7.44%
LONG-TERM ASSETS
Property, Plant & Equipment	$4.950B	$5.451B	$5.215B
YoY Change	-10.06%	4.52%	24.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$31.67M	$77.62M	$51.19M
YoY Change	-29.08%	51.62%	-40.67%
Total Long-Term Assets	$152.4M	$225.1M	$73.70M
YoY Change	-34.94%	205.49%	-64.84%
TOTAL ASSETS
Total Short-Term Assets	$519.0M	$537.7M	$371.6M
Total Long-Term Assets	$152.4M	$225.1M	$73.70M
Total Assets	$5.622B	$6.214B	$5.661B
YoY Change	-13.29%	9.77%	19.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable		$361.7M	$664.9M
YoY Change		-45.6%	10.61%
Accrued Expenses	$253.3M
YoY Change	-55.4%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$302.5M	$485.2M	$669.6M
YoY Change	-61.45%	-27.54%	6.32%
LONG-TERM LIABILITIES
Long-Term Debt	$2.518B	$2.534B	$1.990B
YoY Change	7.96%	27.34%	22.24%
Other Long-Term Liabilities	$52.94M	$40.34M	$28.33M
YoY Change	33.59%	42.4%	-39.75%
Total Long-Term Liabilities	$3.467B	$3.542B	$3.039B
YoY Change	1.61%	16.53%	20.59%
TOTAL LIABILITIES
Total Short-Term Liabilities	$302.5M	$485.2M	$669.6M
Total Long-Term Liabilities	$3.467B	$3.542B	$3.039B
Total Liabilities	$3.769B	$4.027B	$3.709B
YoY Change	-10.18%	8.58%	17.74%
SHAREHOLDERS EQUITY
Retained Earnings	$1.560B	$1.900B	$1.682B
YoY Change	-22.57%	12.93%	24.83%
Common Stock	$306.3M	$299.1M	$274.5M
YoY Change	7.86%	8.99%	10.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)			$0.00
YoY Change			-100.0%
Treasury Stock Shares			0.000 shares
Shareholders Equity	$1.852B	$2.187B	$1.952B
YoY Change
Total Liabilities & Shareholders Equity	$5.622B	$6.214B	$5.661B
YoY Change	-13.29%	9.77%	19.5%

Cashflow Statement

Concept	2015 Q4	2015 Q3	2014 Q3
OPERATING ACTIVITIES
Net Income	-$340.3M	$3.114M	$208.9M
YoY Change	-202.59%	-98.51%	195.57%
Depreciation, Depletion And Amortization	$240.0M	$243.9M	$183.3M
YoY Change	9.49%	33.06%	-6.38%
Cash From Operating Activities	$193.6M	$235.3M	$359.9M
YoY Change	-49.25%	-34.62%	-11.03%
INVESTING ACTIVITIES
Capital Expenditures	-$232.6M	-$288.3M	-$899.9M
YoY Change	-68.66%	-67.96%	132.29%
Acquisitions
YoY Change
Other Investing Activities	$22.90M	$100.0K	-$3.400M
YoY Change	-3916.67%	-102.94%	183.33%
Cash From Investing Activities	-$209.8M	-$288.1M	-$903.4M
YoY Change	-71.75%	-68.11%	132.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	16.10M	52.90M	379.9M
YoY Change	-95.54%	-86.08%	-2489.31%
NET CHANGE
Cash From Operating Activities	193.6M	235.3M	359.9M
Cash From Investing Activities	-209.8M	-288.1M	-903.4M
Cash From Financing Activities	16.10M	52.90M	379.9M
Net Change In Cash	-100.0K	100.0K	-163.6M
YoY Change	0.0%	-100.06%	182983502506666600.0%
FREE CASH FLOW
Cash From Operating Activities	$193.6M	$235.3M	$359.9M
Capital Expenditures	-$232.6M	-$288.3M	-$899.9M
Free Cash Flow	$426.2M	$523.6M	$1.260B
YoY Change	-62.08%	-58.44%	59.09%

Facts In Submission

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CY2015Q3	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	2019000	USD
	us-gaap	Disposal Group Not Discontinued Operation Loss Gain On Write Down DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown	98600000	USD
	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	3400000	USD
	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	3400000	USD
CY2014Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.10
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	4.98
CY2015Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.05
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.59
CY2014Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.05
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	4.90
CY2015Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.05
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.59
CY2014Q3	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.374
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.374
CY2015Q3	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	4.035
CY2014Q3	us-gaap	Exploration Expense ExplorationExpense	34556000	USD
	us-gaap	Exploration Expense ExplorationExpense	80161000	USD
CY2015Q3	us-gaap	Exploration Expense ExplorationExpense	19679000	USD
	us-gaap	Exploration Expense ExplorationExpense	82627000	USD
CY2014Q3	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	190661000	USD
	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	-33470000	USD
CY2015Q3	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	212253000	USD
	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	285491000	USD
CY2014Q3	us-gaap	Gain Loss On Sale Of Oil And Gas Property GainLossOnSaleOfOilAndGasProperty	-5432000	USD
	us-gaap	Gain Loss On Sale Of Oil And Gas Property GainLossOnSaleOfOilAndGasProperty	52000	USD
CY2015Q3	us-gaap	Gain Loss On Sale Of Oil And Gas Property GainLossOnSaleOfOilAndGasProperty	2415000	USD
	us-gaap	Gain Loss On Sale Of Oil And Gas Property GainLossOnSaleOfOilAndGasProperty	38497000	USD
CY2014Q3	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
CY2015Q3	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-16578000	USD
CY2014Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	41696000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	114862000	USD
CY2015Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	37782000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	124026000	USD
CY2014Q3	us-gaap	Impairment Of Leasehold ImpairmentOfLeasehold	15522000	USD
	us-gaap	Impairment Of Leasehold ImpairmentOfLeasehold	18487000	USD
CY2015Q3	us-gaap	Impairment Of Leasehold ImpairmentOfLeasehold	6600000	USD
	us-gaap	Impairment Of Leasehold ImpairmentOfLeasehold	24046000	USD
CY2014Q3	us-gaap	Impairment Of Oil And Gas Properties ImpairmentOfOilAndGasProperties	0	USD
	us-gaap	Impairment Of Oil And Gas Properties ImpairmentOfOilAndGasProperties	0	USD
CY2015Q3	us-gaap	Impairment Of Oil And Gas Properties ImpairmentOfOilAndGasProperties	55990000	USD
	us-gaap	Impairment Of Oil And Gas Properties ImpairmentOfOilAndGasProperties	124430000	USD
CY2014Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	333686000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	533985000	USD
CY2015Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-1026000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-185748000	USD
CY2014Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	124748000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	199660000	USD
CY2015Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-4140000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-78296000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	1979000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	492000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-28797000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-74247000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-6476000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-105336000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-234000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-587000	USD
CY2014Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	1051000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	1089000	shares
CY2015Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	158000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
CY2014Q3	us-gaap	Interest Expense InterestExpense	22621000	USD
	us-gaap	Interest Expense InterestExpense	70851000	USD
CY2015Q3	us-gaap	Interest Expense InterestExpense	33157000	USD
	us-gaap	Interest Expense InterestExpense	96583000	USD
	us-gaap	Interest Paid Net InterestPaidNet	79119000	USD
	us-gaap	Interest Paid Net InterestPaidNet	88920000	USD
CY2014Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	6516700000	USD
CY2015Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	6213861000	USD
CY2014Q4	us-gaap	Liabilities Current LiabilitiesCurrent	784660000	USD
CY2015Q3	us-gaap	Liabilities Current LiabilitiesCurrent	485197000	USD
CY2014Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	3445385000	USD
CY2015Q3	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	3541827000	USD
CY2014Q4	us-gaap	Line Of Credit LineOfCredit	166000000	USD
CY2015Q3	us-gaap	Line Of Credit LineOfCredit	184000000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	378884000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	150074000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1735985000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-934846000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1075122000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	784849000	USD
	us-gaap	Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1 NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1	6200000	USD
CY2014Q3	us-gaap	Oil And Gas Production Expense OilAndGasProductionExpense	178390000	USD
	us-gaap	Oil And Gas Production Expense OilAndGasProductionExpense	519697000	USD
CY2015Q3	us-gaap	Oil And Gas Production Expense OilAndGasProductionExpense	184568000	USD
	us-gaap	Oil And Gas Production Expense OilAndGasProductionExpense	554404000	USD
CY2014Q4	us-gaap	Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization	3233012000	USD
CY2015Q3	us-gaap	Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization	3240109000	USD
CY2014Q3	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	617207000	USD
	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	1894977000	USD
CY2015Q3	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	366615000	USD
	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	1201186000	USD
CY2014Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	356979000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	607329000	USD
CY2015Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	32104000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-73210000	USD
CY2014Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	78214000	USD
CY2015Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	77615000	USD
CY2014Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	196000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	526000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-20000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-772000	USD
CY2014Q3	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	-196000	USD
	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	-526000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	20000	USD
	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	772000	USD
CY2014Q3	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	5444000	USD
	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	19505000	USD
CY2015Q3	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	7166000	USD
	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	34589000	USD
CY2014Q3	us-gaap	Other Labor Related Expenses OtherLaborRelatedExpenses	-6399000	USD
	us-gaap	Other Labor Related Expenses OtherLaborRelatedExpenses	-15280000	USD
CY2015Q3	us-gaap	Other Labor Related Expenses OtherLaborRelatedExpenses	-4364000	USD
	us-gaap	Other Labor Related Expenses OtherLaborRelatedExpenses	-13174000	USD
CY2014Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1000000	USD
CY2015Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	0	USD
CY2014Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	39631000	USD
CY2015Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	40341000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	2934000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-3670000	USD
CY2014Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-672000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-2493000	USD
CY2015Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	27000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	623000	USD
CY2014Q3	us-gaap	Other Operating Income OtherOperatingIncome	7011000	USD
	us-gaap	Other Operating Income OtherOperatingIncome	31457000	USD
CY2015Q3	us-gaap	Other Operating Income OtherOperatingIncome	2121000	USD
	us-gaap	Other Operating Income OtherOperatingIncome	13548000	USD
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	714000	USD
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	990000	USD
	us-gaap	Payments Of Dividends PaymentsOfDividends	3353000	USD
	us-gaap	Payments Of Dividends PaymentsOfDividends	3373000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	10576000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	8502000	USD
	us-gaap	Payments To Acquire Oil And Gas Property And Equipment PaymentsToAcquireOilAndGasPropertyAndEquipment	459277000	USD
	us-gaap	Payments To Acquire Oil And Gas Property And Equipment PaymentsToAcquireOilAndGasPropertyAndEquipment	7088000	USD
	us-gaap	Payments To Explore And Develop Oil And Gas Properties PaymentsToExploreAndDevelopOilAndGasProperties	1317862000	USD
	us-gaap	Payments To Explore And Develop Oil And Gas Properties PaymentsToExploreAndDevelopOilAndGasProperties	1261871000	USD
	us-gaap	Pension And Other Postretirement Benefit Contributions PensionAndOtherPostretirementBenefitContributions	6400000	USD
CY2014Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	19625000	USD
CY2015Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	19114000	USD
CY2014Q4	us-gaap	Price Risk Derivatives At Fair Value Net PriceRiskDerivativesAtFairValueNet	592100000	USD
CY2015Q3	us-gaap	Price Risk Derivatives At Fair Value Net PriceRiskDerivativesAtFairValueNet	489900000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	2898000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	3157000	USD
	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	USD
	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	490951000	USD
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	536500000	USD
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	1604500000	USD
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-85000	USD
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-159000	USD
	us-gaap	Proceeds From Sale Of Oil And Gas Property And Equipment ProceedsFromSaleOfOilAndGasPropertyAndEquipment	41868000	USD
	us-gaap	Proceeds From Sale Of Oil And Gas Property And Equipment ProceedsFromSaleOfOilAndGasPropertyAndEquipment	335103000	USD
CY2014Q3	us-gaap	Profit Loss ProfitLoss	208938000	USD
	us-gaap	Profit Loss ProfitLoss	334325000	USD
CY2015Q3	us-gaap	Profit Loss ProfitLoss	3114000	USD
	us-gaap	Profit Loss ProfitLoss	-107452000	USD
CY2014Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	5503903000	USD
CY2015Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	5451039000	USD
CY2014Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	334356000	USD
CY2015Q3	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	359339000	USD
CY2014Q4	us-gaap	Proved Oil And Gas Property Successful Effort Method ProvedOilAndGasPropertySuccessfulEffortMethod	7348436000	USD
CY2015Q3	us-gaap	Proved Oil And Gas Property Successful Effort Method ProvedOilAndGasPropertySuccessfulEffortMethod	7468331000	USD
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	146500000	USD
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	1586500000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	0	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	350000000	USD
CY2014Q3	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	183259000	USD
	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	548255000	USD
CY2015Q3	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	243879000	USD
	us-gaap	Results Of Operations Depreciation Depletion Amortization And Accretion ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion	680984000	USD
CY2014Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	2013997000	USD
CY2015Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	1899803000	USD
CY2014Q3	us-gaap	Revenues Revenues	618786000	USD
	us-gaap	Revenues Revenues	1926486000	USD
CY2015Q3	us-gaap	Revenues Revenues	371151000	USD
	us-gaap	Revenues Revenues	1253231000	USD
CY2014Q4	us-gaap	Senior Notes SeniorNotes	2200000000	USD
CY2015Q3	us-gaap	Senior Notes SeniorNotes	2350000000	USD
CY2014Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2286655000	USD
CY2015Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2186837000	USD
CY2014Q4	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	532498000	USD
CY2015Q3	us-gaap	Unproved Oil And Gas Property Successful Effort Method UnprovedOilAndGasPropertySuccessfulEffortMethod	381869000	USD
CY2014Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	68430000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	68258000	shares
CY2015Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	68119000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	67638000	shares
CY2014Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	67379000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	67169000	shares
CY2015Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	67961000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	67638000	shares
	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 1 - The Company and Business</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SM Energy Company (“SM Energy” or the “Company”) is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids (also respectively referred to as “oil,” “gas,” and “NGLs” throughout this report) in onshore North America.</font></div></div>
	us-gaap	Property Plant And Equipment Impairment PropertyPlantAndEquipmentImpairment	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Proved and Unproved Oil and Gas Properties</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Proved oil and gas property costs are evaluated for impairment and reduced to fair value when there is an indication the carrying costs may not be recoverable. The Company uses Level 3 inputs and the income valuation technique, which converts future amounts to a single present value amount, to measure the fair value of proved properties through an application of discount rates and price forecasts selected by the Company’s management. The calculation of the discount rate is based on the best information available and was estimated to be </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">12 percent</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">. The Company believes the discount rate is representative of current market conditions and takes into account estimates of future cash payments, expectations of possible variations in the amount and/or timing of cash flows, the risk premium, and nonperformance risk. The prices for oil and gas are forecast based on New York Mercantile Exchange (“NYMEX”) strip pricing, adjusted for basis differentials, for the first </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">five</font><font style="font-family:inherit;font-size:10pt;"> years, after which a flat terminal price is used for each commodity stream. The prices for NGLs are forecast using OPIS Mont Belvieu pricing, for as long as the market is actively trading, after which a flat terminal price is used. Future operating costs are also adjusted as deemed appropriate for these estimates. The Company recorded impairment of proved oil and gas properties expense of </font><font style="font-family:inherit;font-size:10pt;">$56.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$124.4 million</font><font style="font-family:inherit;font-size:10pt;"> for the three and </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively, due to continued declines in commodity strip prices since year-end 2014, the Company’s decision to reduce capital invested in the development of certain prospects in its South Texas & Gulf Coast and Permian regions, and a decline in performance of non-core assets. Proved properties measured at fair value within the accompanying balance sheets totaled </font><font style="font-family:inherit;font-size:10pt;">$56.8 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">. As of December 31, 2014, proved oil and gas properties measured at fair value totaled </font><font style="font-family:inherit;font-size:10pt;">$33.4 million</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unproved oil and gas property costs are evaluated for impairment and reduced to fair value when there is an indication that the carrying costs may not be recoverable.  To measure the fair value of unproved properties, the Company uses a market approach, which takes into account the following significant assumptions: future development plans, risk weighted potential resource recovery, and estimated reserve values. The Company recorded abandonment and impairment of unproved oil and gas properties expense of </font><font style="font-family:inherit;font-size:10pt;">$6.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$24.0 million</font><font style="font-family:inherit;font-size:10pt;"> for the three and </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively, related to acreage the Company no longer intended to develop. Unproved properties measured at fair value were written down to </font><font style="font-family:inherit;font-size:10pt;">zero</font><font style="font-family:inherit;font-size:10pt;"> in the accompanying balance sheets as of </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Proved properties classified as held for sale, including the corresponding asset retirement obligation liability, are valued using a market approach, based on an estimated selling price, as evidenced by the most current bid prices received from third parties, if available. If an estimated selling price is not available, the Company utilizes the income valuation technique discussed above. Unproved properties classified as held for sale are valued using a market approach, based on an estimated selling price, as evidenced by the most current bid prices received from third parties. If an estimated selling price is not available, the Company estimates acreage value based on the price received for similar acreage in recent transactions by the Company or other market participants in the principal market. For the </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">, write-downs on certain assets held for sale totaled </font><font style="font-family:inherit;font-size:10pt;">$98.6 million</font><font style="font-family:inherit;font-size:10pt;">. There were minimal adjustments on certain assets held for sale for the three months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2015</font><font style="font-family:inherit;font-size:10pt;">. These write-downs are included within the net gain (loss) on divestiture activity line item on the accompanying statements of operations. Please refer to </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Note 3 – Acquisitions, Divestitures, and Assets Held for Sale. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value measurements of assets acquired and liabilities assumed are measured on a nonrecurring basis on the acquisition date using an income valuation technique based on inputs that are not observable in the market and therefore represent Level 3 inputs. Significant inputs to the valuation of acquired oil and gas properties include estimates of: (i) reserves; (ii) production rates; (iii) future operating and development costs; (iv) future commodity prices, including price differentials; (v) future cash flows; and (vi) a market participant-based weighted average cost of capital rate. These inputs require significant judgments and estimates by the Company’s management at the time of the valuation. </font></div></div>

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sm-321906certifications930.htm	Edgar Link	pending
sm-9302015x10q.htm	Edgar Link	pending
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$SM
SM Energy Co Stock $sm

2015 Q4 Form 10-Q Financial Statement

#000089353815000104 Filed on October 28, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SM SM Energy Co Stock $sm

2015 Q4 Form 10-Q Financial Statement

#000089353815000104 Filed on October 28, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SM
SM Energy Co Stock $sm