SM Energy(US:SM)2025-09-02 17:15Production and Reserves - Estimated net proved reserves increased by 68% from the end of 2020 to the end of 2024[6,8] - Total net production is expected to increase by 64% from 2020 to 2025[6,8] - Oil production is expected to increase by 76% from 2020 to 2025[6,8] Financial Performance and Capital Allocation - Net debt reduced by approximately $140 million in Q2 2025[78] - The company has repurchased 101 million shares[52] - The annual dividend increased from $002 to $080 per share[53] Operational Efficiency and Regional Focus - Average drilling and completion cost decreased by 15%[28] - Completed footage increased by 64% on average per day[28] - Drilling footage increased by 19% on average per day[28] Q2 2025 Performance - Total net production was 2091 MBoe/d in Q2 2025 with 55% oil[80,81] - Adjusted EBITDAX was $5696 million in Q2 2025[80,81] - Adjusted net income was $150 per share in Q2 2025[80,81]