Stock-Based Compensation	9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 12 - Stock-Based Compensation As of September 30, 2026, 1.2 million shares of common stock were available for grant under the SM Energy Company 2025 Equity Incentive Compensation Plan and 3.1 million shares were available for grant under the Civitas Resources, Inc. 2024 Long Term Incentive Plan acquired as part of the Merger. These amounts reflect decreases from the shares of common stock available for grant as of June 30, 2026, resulting from annual grants of RSUs and PSUs made during the three months ended September 30, 2026. In connection with the closing of the Merger on January 30, 2026, we converted outstanding Civitas equity awards into RSUs of the Company. The converted awards were measured at fair value as of the Closing Date in accordance with ASC 805, and the portion attributable to post-combination service will be recognized as stock-based compensation in accordance with ASC Topic 718, Compensation—Stock Compensation. In total, 2.5 million RSUs were issued in the conversion, with an aggregate fair value of $49 million. Of this amount, $20 million was attributable to future service and was recorded as unrecognized stock-based compensation, which will be recognized over the remaining requisite service periods of the awards. Other than the impact of the converted awards, there were no material changes to our stock-based compensation arrangements during the three and nine months ended September 30, 2026.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2026

Share-Based Payment Arrangement [Abstract]

Note 12 - Stock-Based Compensation

As of September 30, 2026, 1.2 million shares of common stock were available for grant under the SM Energy Company 2025 Equity Incentive Compensation Plan and 3.1 million shares were available for grant under the Civitas Resources, Inc. 2024 Long Term Incentive Plan acquired as part of the Merger. These amounts reflect decreases from the shares of common stock available for grant as of June 30, 2026, resulting from annual grants of RSUs and PSUs made during the three months ended September 30, 2026.

In connection with the closing of the Merger on January 30, 2026, we converted outstanding Civitas equity awards into RSUs of the Company. The converted awards were measured at fair value as of the Closing Date in accordance with ASC 805, and the portion attributable to post-combination service will be recognized as stock-based compensation in accordance with ASC Topic 718, Compensation—Stock Compensation.

In total, 2.5 million RSUs were issued in the conversion, with an aggregate fair value of $49 million. Of this amount, $20 million was attributable to future service and was recorded as unrecognized stock-based compensation, which will be recognized over the remaining requisite service periods of the awards. Other than the impact of the converted awards, there were no material changes to our stock-based compensation arrangements during the three and nine months ended September 30, 2026.