#USA #Denver #SM Energy #Credit Agreement #borrowing base

SM Energy Completes Credit Facility Redetermination

DENVER, October 16, 2025 – SM Energy Company, listed under NYSE as SM, has announced the successful completion of its semi-annual redetermination of the borrowing base associated with its reserves-based revolving credit facility. This assessment has confirmed the borrowing base at a robust $3.0 billion, with the elected commitment amount remaining stable at $2.0 billion, indicating strong financial confidence within the company.

In conjunction with this redetermination, SM Energy has made significant amendments to its existing Credit Agreement; one of the most notable changes includes the replacement of the previous springing maturity provision. This update introduces a more adaptable structure focused on short-term debt and borrowing capacity, thereby offering enhanced financial flexibility.

Wade Pursell, Executive Vice President and Chief Financial Officer of SM Energy, expressed optimism regarding the reaffirmation by the lender group. “We’re pleased with the reaffirmed borrowing base and unchanged commitment levels,” he stated, acknowledging that these factors, combined with the newly amended terms, reflect the confidence that SM Energy’s banking partners maintain in the company's disciplined strategic maneuvers and overall financial strength.

About SM Energy

SM Energy Company is an independent energy entity involved in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs) primarily in Texas and Utah. With a commitment to transparency and investor relations, SM Energy routinely shares vital updates on its operations and business strategies through its official website. Interested stakeholders are encouraged to visit SM Energy’s official website for the latest information.

Investor Relations Contact

For inquiries regarding investment matters, please contact:

• - Pat Lytle, [email protected], 303-864-2502
• - Meghan Dack, [email protected], 303-837-2426

This strategic reaffirmation and amended credit terms solidify the path forward for SM Energy as they navigate the complex landscape of energy production, ensuring robust financial standing in the marketplace while continuing to meet stakeholder needs effectively.