<?xml version="1.0" encoding="UTF-8"?><own:edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns:own="http://www.sec.gov/edgar/ownership">
  <!-- Generated by Workiva -->
  <own:headerData>
    <own:submissionType>144</own:submissionType>
    <own:filerInfo>
      <own:filer>
        <own:filerCredentials>
          <own:cik>0001192045</own:cik>
          <own:ccc>XXXXXXXX</own:ccc>
        </own:filerCredentials>
      </own:filer>
      <own:liveTestFlag>LIVE</own:liveTestFlag>



    </own:filerInfo>
  </own:headerData>
  <own:formData>
    <own:issuerInfo>
      <own:issuerCik>0000893538</own:issuerCik>
      <own:issuerName>SM Energy</own:issuerName>
      <own:secFileNumber>001-31539</own:secFileNumber>
      <own:issuerAddress>
        <com:street1>1700 Lincoln St.,  Suite 3200</com:street1>
        <com:city>Denver</com:city>
        <com:stateOrCountry>CO</com:stateOrCountry>
        <com:zipCode>80203</com:zipCode>
      </own:issuerAddress>
      <own:issuerContactPhone>303-861-8140</own:issuerContactPhone>
      <own:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Ramiro Peru</own:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <own:relationshipsToIssuer>
        <own:relationshipToIssuer>Director</own:relationshipToIssuer>
      </own:relationshipsToIssuer>
    </own:issuerInfo>
    <own:securitiesInformation>
      <own:securitiesClassTitle>Common</own:securitiesClassTitle>
      <own:brokerOrMarketmakerDetails>
        <own:name>Merrill</own:name>
        <own:address>
          <com:street1>14636 N Scottsdale Rd., Suite 325</com:street1>
          <com:city>Scottsdale</com:city>
          <com:stateOrCountry>AZ</com:stateOrCountry>
          <com:zipCode>85254</com:zipCode>
        </own:address>
      </own:brokerOrMarketmakerDetails>
      <own:noOfUnitsSold>24553</own:noOfUnitsSold>
      <own:aggregateMarketValue>862792</own:aggregateMarketValue>
      <own:noOfUnitsOutstanding>239748701</own:noOfUnitsOutstanding>
      <own:approxSaleDate>05/21/2026</own:approxSaleDate>
      <own:securitiesExchangeName>NYSE</own:securitiesExchangeName>
    </own:securitiesInformation>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common</own:securitiesClassTitle>
      <own:acquiredDate>12/31/2024</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>In lieu of services</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>SM Energy</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>3850</own:amountOfSecuritiesAcquired>
      <own:paymentDate>12/31/2024</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common</own:securitiesClassTitle>
      <own:acquiredDate>12/31/2023</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>In Lieu of services</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>SM Energy</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>6541</own:amountOfSecuritiesAcquired>
      <own:paymentDate>12/31/2023</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common</own:securitiesClassTitle>
      <own:acquiredDate>12/31/2022</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>In Lieu of services</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>SM Energy</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>3621</own:amountOfSecuritiesAcquired>
      <own:paymentDate>12/31/2022</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common</own:securitiesClassTitle>
      <own:acquiredDate>12/31/2021</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>In Lieu of services</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>SM Energy</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>8041</own:amountOfSecuritiesAcquired>
      <own:paymentDate>12/31/2021</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common</own:securitiesClassTitle>
      <own:acquiredDate>03/08/2017</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>In Lieu of services</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>SM Energy</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>1500</own:amountOfSecuritiesAcquired>
      <own:paymentDate>03/08/2017</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common</own:securitiesClassTitle>
      <own:acquiredDate>02/27/2017</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>In Lieu of services</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>SM Energy</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>1000</own:amountOfSecuritiesAcquired>
      <own:paymentDate>02/27/2017</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</own:nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <own:noticeSignature>
      <own:noticeDate>05/21/2026</own:noticeDate>
      <own:signature>Ramiro Peru</own:signature>
    </own:noticeSignature>
  </own:formData>
</own:edgarSubmission>
