SM Energy Co — Director's Dealing 2012

May 4, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SM Energy Co (SM)
CIK: 0000893538
Period of Report: 2012-05-03

Reporting Person: BICKLE LARRY W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-03	Common Stock; $.01 Par Value	M	3346	$12.50	Acquired	108632	Direct
2012-05-03	Common Stock; $.01 Par Value	S	3346	$65.00	Disposed	105286	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-03	Stock Options (Right to Buy)	$12.50	M	3346	Disposed	2012-12-31	Common Stock (3346)	Direct

Footnotes

F1: The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on February 28, 2012.

F2: The options vested in four equal installments on December 31, 2002, 2003, 2004, and 2005.