Dividends and Shareholder Returns - The Board declared a cash dividend of $0.11 per share, payable on March 31, 2025, to shareholders of record on March 20, 2025[4]. - In 2024, the company paid $16.4 million in regular quarterly dividends and a one-time special dividend of $55.9 million[4]. Financial Performance - The company generated net income of $63.0 million, or $1.70 per basic share, in 2024, with adjusted net income of $34.5 million, or $0.93 per basic share[4]. - Adjusted EBITDA for 2024 was $69.5 million[4]. - Total revenues for the year ended December 31, 2024, were $125.29 million, a decrease from $148.64 million in 2023[31]. - Net income for 2024 was $62.99 million, compared to $60.86 million in 2023, resulting in a basic income per share of $1.70[31]. - Free cash flow for 2024 was $47,528,000, down from $89,174,000 in 2023, indicating a decrease of 46.8%[44]. - Net income for Q4 2024 was $17,583,000, a significant increase from $1,792,000 in Q4 2023, representing a growth of over 877%[48]. - Adjusted EBITDA for Q4 2024 was $24,073,000, compared to $19,458,000 in Q4 2023, reflecting an increase of approximately 23%[49]. - Adjusted net income available to common stockholders for Q4 2024 was $12,698,000, slightly down from $13,016,000 in Q4 2023, a decrease of approximately 2.4%[53]. - For the year ended December 31, 2024, the total adjusted net income available to common stockholders was $34,502,000, down from $69,015,000 in 2023, a decrease of approximately 50%[53]. Production and Operations - Production averaged 19.1 MBoe per day in Q4 2024, a 19% increase compared to Q4 2023, with oil production up 28%[4]. - Total oil production increased to 294 MBbl in Q4 2024 from 231 MBbl in Q4 2023, while natural gas production rose to 5,509 MMcf from 5,030 MMcf[22]. - The company plans to produce between 5.9 and 7.1 MMBoe in 2025[20]. - 2025 guidance includes drilling eight and completing six new SandRidge-operated wells in the Cherokee Shale[4]. Capital Expenditures and Investments - Total capital expenditures for 2025 are projected to be between $66 million and $85 million[20]. - Capital expenditures for the year ended December 31, 2024, totaled $26.81 million, excluding acquisitions[26]. - Capital expenditures for property, plant, and equipment were $26,404,000 in 2024, consistent with $26,375,000 in 2023[37]. - The company closed a second acquisition in the Cherokee Shale Play for $5.7 million on December 13, 2024[4]. Assets and Liabilities - Total assets increased to $581,511,000 in 2024 from $574,166,000 in 2023, representing a growth of 1.9%[34]. - Total current liabilities rose to $60,595,000 in 2024, up from $49,324,000 in 2023, marking an increase of 22.9%[34]. - Total liabilities increased to $120,980,000 in 2024 from $106,055,000 in 2023, an increase of 14%[34]. - The company's cash and cash equivalents decreased to $99.51 million as of December 31, 2024, from $253.94 million in 2023[29]. - The company reported a decrease in cash and cash equivalents to $98,128,000 in 2024 from $252,407,000 in 2023, a drop of 61%[34]. Operating Expenses - Lease operating expenses for 2025 are estimated to be between $42 million and $50 million[20]. - Lease operating expenses decreased to $40.01 million in 2024 from $41.86 million in 2023[31]. - General and administrative expenses for Q4 2024 were $3,009,000, with an adjusted G&A per Boe of $1.39, compared to $2,208,000 and $1.49 per Boe in Q4 2023[55]. Cash Flow - Net cash provided by operating activities decreased to $73,933,000 in 2024 from $115,578,000 in 2023, a decline of 36%[42]. - Adjusted operating cash flow for 2024 was $76,904,000, down from $103,526,000 in 2023, a decrease of 25.7%[42]. Reserves and Pricing - Proved reserves increased from 55.7 MMBoe at December 31, 2023, to 63.1 MMBoe at December 31, 2024, driven by acquisitions and positive revisions[24]. - Average realized oil price per barrel decreased to $71.44 in Q4 2024 from $77.53 in Q4 2023[22]. - The company has fixed price swaps for oil at an average price of $71.60 for 2025[28]. Other Financial Metrics - Interest income for the year ended December 31, 2024, was $(7,875,000), down from $(10,656,000) in 2023, reflecting a decrease of about 26%[53]. - The accumulated deficit improved to $(539,961,000) in 2024 from $(602,947,000) in 2023, showing a reduction of 10.4%[34]. Forward-Looking Statements - The company highlighted the importance of forward-looking statements regarding future operations and financial performance, emphasizing the inherent risks and uncertainties involved[56].

Financial Results & Update - SandRidge Energy reported a net income of $17.583 million for Q4 2024, a decrease of 31% from $25.484 million in Q3 2024, but an increase from $1.792 million in Q4 2023 [3] - Adjusted net income for Q4 2024 was $12.698 million, up 80% from $7.057 million in Q3 2024, but slightly down from $13.016 million in Q4 2023 [3] - The company generated $25.993 million in net cash from operating activities in Q4 2024, an increase from $20.847 million in Q3 2024, but a slight decrease from $26.219 million in Q4 2023 [3] - Free cash flow for Q4 2024 was $13.161 million, compared to $25.525 million in Q4 2023 [3] Operational Results & Update - Total production for Q4 2024 was 1,754 MBoe, a 12% increase from 1,563 MBoe in Q3 2024 and a 19% increase from 1,473 MBoe in Q4 2023 [4] - Oil production increased by 28% year-over-year, while natural gas production decreased by 4.5% [4][20] - Revenue from oil, natural gas, and NGLs was $38.973 million in Q4 2024, up 30% from $30.057 million in Q3 2024 and up 15% from $33.926 million in Q4 2023 [4] Liquidity & Capital Structure - As of December 31, 2024, SandRidge had $99.5 million in cash and cash equivalents, with no outstanding debt [7][29] - The company declared a cash dividend of $0.11 per share on March 7, 2025, payable on March 31, 2025 [6][8] Acquisitions - In 2024, SandRidge completed two acquisitions in the Cherokee Shale Play, totaling $127.6 million, enhancing its ownership interest in oil and gas properties [9] - The company plans to operate the majority of its development in 2025, focusing on the Cherokee Shale [9] 2025 Guidance - SandRidge anticipates total production of 5.9 to 7.1 MMBoe in 2025, with capital expenditures estimated between $66 million and $85 million [17] - The company plans to drill eight new wells and complete six in the Cherokee Shale [10] Environmental, Social, & Governance (ESG) - SandRidge emphasizes its commitment to ESG practices, including no routine flaring of natural gas and efficient water transportation [11]

Core Viewpoint - SandRidge Energy, Inc. is set to release its fourth quarter and full year 2024 operational and financial results on March 10, 2025, after market close [1] Group 1: Financial Results Announcement - The company will host a conference call on March 11, 2025, at 1:00 p.m. Central Time to discuss the financial results and operational highlights for the fourth quarter and full year 2024 [2] - Participants can access the conference call by registering online in advance, receiving dial-in information and a conference ID upon registration [2] Group 2: Webcast Information - A live audio webcast of the conference call will be available on the company's website, and it will be archived for replay for at least 30 days [3] Group 3: Company Overview - SandRidge Energy, Inc. is an independent oil and gas company involved in the production, development, and acquisition of oil and gas properties, primarily operating in the Mid-Continent and Western Anadarko regions in Oklahoma, Texas, and Kansas [4]

Group 1 - SandRidge Energy has maintained a conservative management approach, featuring a strong balance sheet with significant cash reserves and no long-term debt or bank loans [2] - The company is recognized as one of the few natural gas producers in a cyclical oil and gas industry, which requires patience and experience for successful investment [2] Group 2 - The analysis provided in the article focuses on identifying undervalued companies within the oil and gas sector, emphasizing the importance of understanding balance sheets, competitive positioning, and development prospects [1]

Group 1 - SandRidge Energy (NYSE: SD) averaged approximately 16,000 BOEPD in production during July and August 2024, which represents an increase of about 7% compared to Q2 2024 production [2] - The increase in production was primarily attributed to the company's legacy assets [2] - The article highlights the analytical experience of Aaron Chow, who has over 15 years in the field and focuses on value opportunities and distressed plays, particularly in the energy sector [2] Group 2 - The article promotes a free two-week trial for the Distressed Value Investing community, which offers exclusive research and access to a portfolio of historic research [1] - The community includes over 1,000 reports on more than 100 companies, indicating a broad scope of research coverage [1] - The author emphasizes that there are no current stock or derivative positions in any mentioned companies, ensuring an unbiased perspective [2]

Financial Performance - Total revenues for Q3 2024 were $30.057 million, a decrease of $8.092 million (21.2%) compared to Q3 2023 revenues of $38.149 million[91]. - For the nine-month period ended September 30, 2024, total revenues were $86.317 million, down $28.398 million (24.7%) from $114.715 million in the same period of 2023[91]. - Consolidated revenues for the nine-month period ended September 30, 2024, were $86.3 million, a decrease of $28.4 million compared to $114.7 million in 2023[91]. - Oil revenues for the three-month period ended September 30, 2024, were $16.9 million, down from $21.3 million in 2023, reflecting a decrease of $4.5 million[91]. - Natural gas revenues for the nine-month period ended September 30, 2024, were $13.3 million, a decline of $14.1 million compared to $27.4 million in 2023[91]. Production Metrics - Oil production for Q3 2024 was 231 MBbls, a decrease of 36 MBbls (13.5%) from 267 MBbls in Q3 2023[92]. - Natural gas production for Q3 2024 was 4,729 MMcf, down 547 MMcf (10.4%) from 5,276 MMcf in Q3 2023[92]. - The average daily total volumes for Q3 2024 were 17.0 MBoe/d, a decrease of 0.2 MBoe/d (1.2%) from 17.2 MBoe/d in Q3 2023[92]. - The company did not bring online any new wells in the trailing twelve months ended September 30, 2024[114]. - The company did not drill any new wells in the trailing twelve months ended September 30, 2024, impacting production volumes[94]. Expenses and Costs - Total operating expenses for the three months ended September 30, 2024, were $20,867 thousand, an increase of $1,532 thousand compared to $19,335 thousand for the same period in 2023[95]. - Lease operating expenses decreased to $9,104 thousand for the three months ended September 30, 2024, down from $11,450 thousand in 2023, a reduction of $2,346 thousand[95]. - Depreciation and depletion for oil and natural gas properties increased to $8,345 thousand for the three months ended September 30, 2024, compared to $4,217 thousand in 2023, an increase of $4,128 thousand[95]. - General and administrative expenses for the three months ended September 30, 2024, were $2,304,000, a decrease of $315,000 (12.0%) from $2,619,000 in the same period of 2023[102]. Cash Flow and Dividends - Cash flows from operations for the nine months ended September 30, 2024, were $47,940 thousand, a decrease from $89,359 thousand in the same period in 2023[112]. - Cash payments for acquisitions totaled $126.0 million, contributing to a reduction in working capital to $66.8 million at September 30, 2024, down from $228.5 million at December 31, 2023[110]. - Cash used in financing activities for the nine-month period ended September 30, 2024, included $68.2 million in cash dividends, down from $77.8 million in 2023[117]. - The company paid cash dividends totaling $149.7 million since 2023, representing $3.50 per share in special dividends and $0.53 per share in quarterly dividends[117]. Acquisitions and Investments - The company completed the acquisition of producing oil and natural gas properties in the Cherokee Play for $123.8 million on August 30, 2024[82]. - Cash flows used in investing activities for the nine-month period ended September 30, 2024, included acquisitions of oil and gas properties for $126.0 million, compared to $11.2 million in 2023[114]. - Total capital expenditures for the nine-month period ended September 30, 2024, were $139.4 million, significantly higher than $32.9 million in 2023[115]. Derivative Contracts and Risk Management - The company has entered into various commodity derivative contracts to manage price fluctuations, with open contracts as of September 30, 2024, including swaps for natural gas and NGLs[124]. - Changes in fair value of derivative contracts could significantly affect current period earnings, as the company does not designate any of its derivative contracts as hedges for accounting purposes[126]. - The company has open derivative contracts with a weighted average price of $42.76 per barrel for Mont Belvieu OPIS and $74.85 per barrel for NYMEX WTI for the period October 2024 - December 2024[125]. - The maximum potential loss under derivative transactions due to credit risk is limited to net amounts due from counterparties[129]. - All derivative transactions are conducted in the over-the-counter market with counterparties having an "investment grade" credit rating[128]. Tax and Financial Reporting - The company recorded a net income tax benefit of $15.4 million for the three and nine months ended September 30, 2024, related to a partial valuation allowance release[106]. - There were no changes in the company's internal control over financial reporting during the quarter ended September 30, 2024[133]. - The company's disclosure controls and procedures were deemed effective as of September 30, 2024, ensuring timely and accurate reporting[132]. Market Outlook - The estimated SEC prices for the fourth quarter of 2024 are projected to be $75.95 per barrel of oil and $2.17 per MMBtu of natural gas[100]. - The company expects no full cost ceiling limitation impairment for the fourth quarter of 2024 based on estimated SEC prices[100]. Risk Factors - Risk factors that could adversely affect the business are detailed in the 2023 Form 10-K, highlighting uncertainties in operations[137].

Financial Data and Key Metrics Changes - The company reported a positive quarter, with total production reflecting contributions from the recent acquisition in the Western Anadarko Basin [4]. Business Line Data and Key Metrics Changes - Specific details regarding changes in individual business lines were not provided in the available content. Market Data and Key Metrics Changes - Information on market data and key metrics changes was not included in the provided content. Company Strategy and Development Direction and Industry Competition - The company has successfully closed an acquisition in the Western Anadarko Basin, indicating a strategic move to enhance production capabilities [4]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the quarter's performance and the impact of the acquisition on future production [4]. Other Important Information - The call included forward-looking statements that are subject to risks and uncertainties, with actual results potentially differing from projections [2][3]. Q&A Session Summary - No specific questions and answers from the Q&A session were provided in the available content.

Core Viewpoint - SandRidge Energy, Inc. faced challenges in Q3 2024 due to lower commodity prices and production hurdles, impacting earnings and revenues while emphasizing operational efficiencies and growth initiatives [1] Q3 Results - Adjusted earnings per share were 19 cents, a decline of 56.4% from 44 cents in the prior-year quarter [2] - Total revenues fell 21.2% to $30.1 million from $38.1 million in the prior-year quarter [2] Production - Total production was 1,563 MBoe, down from 1,586 MBoe in Q3 2023 [3] - Oil production decreased by 13.5% to 231 MBbl from 267 MBbl a year ago [3] - Natural gas production fell 10.4% to 4,729 MMcf from 5,276 MMcf a year ago [3] - Natural gas liquids production increased by 23.6% to 544 MBbl from 440 MBbl a year ago [3] Realized Prices - Realized oil price per barrel fell 8.5% to $73.07 from $79.83 in Q3 2023 [4] - Realized natural gas price per barrel declined 32.4% to 92 cents from $1.36 [4] - Realized NGL price per barrel decreased to $16.25 from $21.89 [4] - Overall realized price per Boe declined 19.5% year over year to $19.23 [4] Profitability Metrics - Adjusted EBITDA was $17.7 million, down from $22.6 million in the year-ago quarter [5] - Adjusted net income was $7.1 million, a 56.4% decline from $16.2 million in Q3 2023 [6] Cash Flow - Free cash flow was $10.9 million, down from $24.2 million in the prior-year period [7] Expenses - Lease operating expenses reduced by 19.4% to $5.82 per Boe from $7.22 [8] - Production taxes and other expenses decreased to $1.16 per Boe from $1.28 [8] - Depletion expenses per Boe doubled to $5.34 from $2.66 [8] Liquidity & Capital Expenditure - As of September 30, 2024, cash and cash equivalents were $94.1 million with no outstanding debt [9] - Capital expenditure for the nine months ending in September 2024 was $13.6 million [9] Financial Performance - Q3 2024 performance was marked by challenges in revenue generation due to softening oil and gas prices [10] Operational Efficiency - The company maintained operational efficiency with reduced LOE costs and improved cost control [11] Growth Initiatives - Completed a $123.8 million acquisition in the Cherokee play, expected to enhance production and cash flow [12] - Plans to leverage recent acquisitions by completing drilled uncompleted wells and starting a drilling program [13] - Closed acquisition of additional assets in the Cherokee play, including 44 producing wells [14]

Financial Performance - Third quarter net income was $25.5 million, or $0.69 per basic share, representing a 188% increase compared to the previous quarter[4] - The company reported a net income of $25,484,000 for the three months ended September 30, 2024, compared to $18,670,000 for the same period in 2023, representing an increase of 36.5%[41] - The company reported a net income of $25,484 thousand for the three months ended September 30, 2024, compared to $59,065 thousand in the same period last year, indicating a decrease of approximately 56.9%[28] - Net income for the nine months ended September 30, 2024, was $45,403, a decrease of 23.2% compared to $59,065 for the same period in 2023[32] - For the nine months ended September 30, 2024, net income available to common stockholders was $55,999,000, compared to $59,065,000 for the same period in 2023, a decrease of 5.0%[46] Revenue and Production - Total revenues for the nine months ended September 30, 2024, were $86,317 thousand, down from $114,715 thousand in the same period last year, representing a decline of about 24.8%[28] - Total oil production for the three months ended September 30, 2024, was 231 MBbl, a decrease from 267 MBbl in the same period last year, while natural gas production was 4,729 MMcf, down from 5,276 MMcf[24] - Production in September averaged approximately 19 MBoe/d, an increase of 27% compared to Q2 2024, with oil comprising 18% of total production[3] - The net realized price per barrel of oil was $73.71 for the three months ended September 30, 2024, compared to $79.83 in the same period last year, reflecting a decrease of approximately 7.3%[24] - Realized oil price per barrel decreased to $73.07, down from $79.54 in Q2 2024, while realized natural gas price per Mcf increased to $0.92[6] Cash Flow and Expenses - Adjusted EBITDA for the third quarter was $17.7 million, with free cash flow generated of $34.4 million for the nine-month period, indicating a conversion rate of approximately 76% relative to adjusted EBITDA[3][4] - Adjusted EBITDA for the three months ended September 30, 2024, was $17,742,000, down from $22,587,000 in the same period of 2023, a decrease of 21.5%[42] - Net cash provided by operating activities for the three months ended September 30, 2024, was $20,847,000, compared to $25,507,000 for the same period in 2023, a decrease of 18.9%[42] - Free cash flow for the nine months ended September 30, 2024, was $34,367, a decrease of 45.0% compared to $63,649 for the same period in 2023[38] - Cash and cash equivalents at the end of the period were $94,081, a significant decrease of 62.9% from $252,407 at the beginning of the year[32] Capital Expenditures and Investments - Capital expenditures for the nine months ended September 30, 2024, totaled $13,455 thousand, which includes drilling, completion, and capital workovers of $6,562 thousand and leasehold and geophysical costs of $6,893 thousand[25] - Capital expenditures for property, plant, and equipment for the nine months ended September 30, 2024, were $13,572, down 47.3% from $25,681 in the same period of 2023[32] - The company reported a net cash used in investing activities of $138,662 for the nine months ended September 30, 2024, compared to $35,531 in the same period of 2023[32] Shareholder Returns and Equity - The Board of Directors declared a cash dividend of $0.11 per share, payable on November 29, 2024, to shareholders of record on November 15, 2024[3] - Total stockholders' equity as of September 30, 2024, was $446,757 thousand, a decrease from $468,111 thousand at the end of 2023, indicating a decline of about 4.5%[26] - The company's cash and cash equivalents decreased to $94,081 thousand as of September 30, 2024, down from $253,944 thousand at the end of 2023[26] - Total liabilities increased to $118,483 as of September 30, 2024, up 11.7% from $106,055 on December 31, 2023[30] Operational Focus and Future Outlook - The company is focused on optimizing production through high-return projects, including workovers and artificial lift improvements[9] - The company remains open to further merger and acquisition opportunities while maintaining a strong balance sheet and capital return program[16] - The company anticipates future operational performance to be influenced by various factors including oil and natural gas prices, capital availability, and regulatory changes[51]

Group 1 - SandRidge Energy, Inc. (NYSE: SD) has provided updated guidance following the completion of its acquisition in the Western Anadarko Basin, indicating an additional production gain of approximately 6,000 BOEPD [2] - The updated guidance also outlines SandRidge's plans for further investment in development, reflecting a strategic focus on enhancing production capabilities [2] Group 2 - The article highlights the expertise of Aaron Chow, also known as Elephant Analytics, who has over 15 years of analytical experience and is recognized as a top-rated analyst on TipRanks [2] - Chow's background includes co-founding a mobile gaming company that was acquired by PENN Entertainment, showcasing his experience in both analytical and modeling skills [2]