SM: Q3 delivered $397 million adjusted free cash flow as synergies and debt reduction advanced

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Q3 production was 433,000 BOE/d, with $397 million adjusted free cash flow and net debt down to $6 billion. Merger synergies reached $400 million; focus turns to capital efficiency, deleveraging and a 2027 plan that accounts for Uinta takeaway limits.

Based on [SM Energy Company [SM] Q3 2026 Audio Transcript — Nov. 4 2026](https://www.tradingview.com/symbols/NYSE-SM/documents/)

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