SM Energy & Civitas Q2 2026: Texas Permits, Spuds & Production
SM Energy Q2 2026 production and guidance alongside current Texas permits, reported spuds, source labels, and separate source clocks.
By Johnathan · Reviewed by EnergyNetWatch Research · Historical report · Content updated 2026-08-09
Historical report
This page is a historical source-record snapshot tied to a specific company update or activity event. It links back into durable operator and state workflows.
Key Takeaways
- SM Energy reported approximately 440 MBoe/d of average daily production and raised second-half guidance to 435–440 MBoe/d.
- The current Texas matched pull shows 20 90-day permits and zero matched 90-day reported-spud rows.
- The 12-month view contains 74 matched reported-spud rows, so the current 90-day result should not be read as the full history.
SM Energy reported second-quarter 2026 financial and operating results on August 6, 2026. EnergyNetWatch reviewed the current Texas source-record layer through July 24 for permits and July 21 for reported spuds.
This page keeps the company results and the state records separate. The company figures below come from SM Energy's official release. The EnergyNetWatch figures are public Texas permit and reported-spud rows matched to SM Energy and Civitas source labels.
For the current operator view, use the durable SM Energy & Civitas operator intelligence page. This page preserves the Q2 event and the current Texas record check.
Q2 company update
| Reported item | Q2 2026 |
|---|---|
| Average daily production | 439.7 MBoe/d |
| Oil production | 229.8 MBbl/d |
| Operating cash flow | $1.1 billion |
| Operating cash flow before working-capital changes | $1.2 billion |
| Adjusted free cash flow | $467 million |
| Adjusted EBITDAX | $1.4 billion |
| Second-half production guidance | 435–440 MBoe/d |
| Full-year capital guidance | $2.65–$2.85 billion, maintained |
| Merger synergies actioned | $355 million, or 95% of target |
This was the first full quarter as a combined SM Energy and Civitas company. The release also says the $950 million South Texas asset sale closed on April 30, with approximately $900 million of net proceeds. Q2 includes only one month of production from those divested South Texas assets.
Texas source-record check
| EnergyNetWatch record layer | Current matched pull |
|---|---|
| 90-day permits | 20 |
| 12-month permits | 122 |
| 90-day reported spuds | 0 |
| 12-month reported spuds | 74 |
| Permit source clock | Through July 24, 2026 |
| Reported-spud source clock | Through July 21, 2026 |
The current matched pull uses SM Energy and Civitas Permian source labels. Other historical or legacy labels are retained separately when the source record does not support a current post-merger rollup.
What the records show
The Texas pull shows 20 permit rows in the current 90-day window and no matched reported-spud rows in that same window. That is a source-record result, not a claim that no drilling occurred. Permits and reported spuds are different record stages, and the source clocks are not identical.
The 12-month view contains 74 matched reported-spud rows. The earlier Q1 page showed 40 90-day permits and 97 12-month permits from a different source pull. Those windows have different anchors and should not be presented as a quarter-over-quarter activity change without a like-for-like query.
SM's merger, the South Texas divestiture, and the Texas source-label treatment also matter when reading the counts. A state record under an SM or Civitas label is not automatically a consolidated company asset after the transaction.
How to read the comparison
The company table reports SM Energy's consolidated Q2 results and guidance. The Texas table reports public records under the reviewed labels. The figures are shown together for context, but they are not a production reconciliation and the state rows do not prove a specific well, facility, contractor, or project.
Sources
- SM Energy Reports Second Quarter 2026 Results
- SM Energy Q2 2026 financial and operating results event
- SM Energy financial results
- Texas Railroad Commission data sets
- SM Energy & Civitas operator intelligence
EnergyNetWatch Texas records were reviewed August 8, 2026. The current pull is a source-label activity screen, not a company-reported production or guidance reconciliation.
Data notes
Company-reported figures are from SM Energy's Q2 2026 results release published August 6, 2026. EnergyNetWatch Texas permit rows run through July 24, 2026 and reported-spud rows through July 21, 2026. Company results and state-source rows use different definitions and are kept separate.
Recommended next pages
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