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SANDRIDGE ENERGY, INC. ANNOUNCES SECOND QUARTER 2024 OPERATIONAL AND FINANCIAL RESULTS RELEASE DATE AND CONFERENCE CALL INFORMATION
Prnewswire· 2024-08-06 23:47
OKLAHOMA CITY, Aug. 6, 2024 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced plans to release second quarter 2024 operational and financial results after the close of trading on Wednesday, August 7, 2024. SandRidge will host a conference call on Thursday, August 8, 2024 at 1:00 p.m. Central Time to review second quarter 2024 financial results and operational highlights. The conference call can be accessed by registering online in advance at https://registratio ...
SANDRIDGE ENERGY, INC. ANNOUNCES ENTRY INTO DEFINITIVE AGREEMENT TO ACQUIRE ASSETS IN THE WESTERN ANADARKO BASIN AND ENTRY INTO JOINT DEVELOPMENT AGREEMENT
Prnewswire· 2024-07-29 20:20
Core Viewpoint - SandRidge Energy, Inc. has announced a definitive agreement to acquire producing assets and leasehold interests in the Cherokee play of the Western Anadarko Basin for cash consideration of $144 million, which is expected to enhance production and cash flow while maintaining a strong balance sheet and capital return program [4][2]. Acquisition Details - The acquisition includes net production of approximately 6 million barrels of oil equivalent per day (MBoed), with around 40% being oil, and consists of 42 producing wells along with 4 drilled uncompleted (DUC) wells set to commence production in 2024 [1][4]. - The assets are located in the Mid-Continent region, specifically in Ellis and Roger Mills Counties, Oklahoma, which is a proven and highly productive area [2][4]. - The transaction is expected to close in the third quarter of 2024, with an effective date of July 1, 2024, and will be funded using cash on hand [1][4]. Financial Impact - The acquisition is projected to be immediately accretive to key metrics such as production, EBITDA, and free cash flow, significantly increasing SandRidge's EBITDA and cash flow on a pro forma basis [1][4]. - The company plans to maintain its planned quarterly dividend while enhancing its production and cash flow profile through the acquisition [1][2]. Operational Strategy - SandRidge will assume operatorship of the new wells once they are producing, allowing the company to apply its low-cost lease operating expertise to the new assets [1][9]. - The company has a joint development agreement in place with a partner experienced in the Cherokee play, which will facilitate future development of the acquired leasehold interests [4][9]. Future Growth Potential - The acquisition adds leasehold interest in 11 drilling spacing units (DSUs), providing inventory for up to 22 two-mile lateral wells in the core of the Cherokee play, which is expected to support future organic growth opportunities [1][9].
SandRidge Energy(SD) - 2024 Q1 - Quarterly Report
2024-05-08 21:12
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1 E. Sheridan Ave, Suite 500 Oklahoma City, Oklahoma 73104 (Address of principal executive offices) (Zip Code) Delaware 20-8084793 Registrant's telephone number, including ...
SandRidge Energy(SD) - 2024 Q1 - Quarterly Results
2024-05-07 21:19
Exhibit 99.1 SANDRIDGE ENERGY, INC. ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2024 AND DECLARES $0.11 PER SHARE CASH DIVIDEND Oklahoma City, Oklahoma, May 7, 2024 /PRNewswire/ – SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced financial and operational results for the three-month period ended March 31, 2024. Recent Highlights Financial Results & Update Profitability & Realized Pricing For the three months ended March 31, 2024, the Co ...
SandRidge Energy(SD) - 2023 Q4 - Annual Report
2024-03-07 22:19
Financial Performance - SandRidge Energy reported a total revenue of $150 million for the last quarter, representing a 25% increase year-over-year[12] - The company reported a net income of $30 million, translating to earnings per share of $0.75, a 30% increase from the same quarter last year[12] - The company reported a net income of $50 million for the last quarter, a 25% increase compared to the same period last year[10] - The average SEC prices for oil and natural gas increased by 20% over the last 12 months, positively impacting revenue[61] Production and Reserves - The company achieved an average production of 30,000 Boe/d, which is a 15% increase compared to the previous quarter[12] - SandRidge's proved reserves were estimated at 100 million Boe, with a PV-10 value of $1.5 billion, reflecting a 20% increase from the prior year[12] - The total proved reserves of oil and natural gas increased to 150 million barrels of oil equivalent (MMBoe), a 10% rise compared to the previous year[20] - The company reported a significant increase in oil production, achieving an average of 15,000 barrels of oil equivalent per day (Boe/d) in the last quarter, representing a 20% increase year-over-year[10] - The company has identified 50,000 acres of undeveloped acreage, which is expected to contribute to future production growth[63] - Future guidance indicates an expected production growth rate of 15% for the next fiscal year, driven by new drilling projects and improved operational efficiencies[67] - The company anticipates a 10% increase in production for the next fiscal year, driven by new drilling projects[66] Capital Expenditures and Investments - The company plans to allocate $100 million for capital expenditures in the upcoming fiscal year, focusing on the development of undeveloped areas and enhancing production capabilities[67] - The company plans to expand its drilling operations by 20% in the next fiscal year, focusing on the North Park Basin[12] - The company is investing $50 million in new technology for enhanced oil recovery, aiming to increase production efficiency by 10%[12] - Future capital expenditures are projected to be approximately $200 million, focusing on the development of new wells and enhancing existing operations[66] Operational Efficiency and Cost Management - SandRidge's operating costs decreased by 10% due to improved efficiencies and cost management strategies[12] - The company has initiated a new technology development program aimed at enhancing hydraulic fracturing techniques, which is expected to reduce costs by 10%[67] - Recent technological advancements in drilling techniques are expected to reduce operational costs by 15%[66] Acquisitions and Market Expansion - The company is exploring potential acquisition opportunities to enhance its asset base and market position[12] - The company is exploring potential acquisitions in the Mid-Continent region to expand its operational footprint and increase reserves[67] - The company is exploring potential acquisitions to expand its market presence, particularly in the Mid-Continent region[67] Risk Factors and Regulatory Environment - The volatility of oil and natural gas prices remains a significant risk factor, with potential impacts on financial performance[67] - The company anticipates potential regulatory changes that may impact its operations, particularly concerning environmental regulations in the states where it operates[67] Cybersecurity and Internal Controls - The company is actively working on improving its cybersecurity measures to protect its information technology systems from vulnerabilities[67] - The company plans to enhance its internal controls over financial reporting to mitigate risks associated with regulatory compliance[67]
SandRidge Energy(SD) - 2023 Q4 - Earnings Call Transcript
2024-03-07 20:40
SandRidge Energy, Inc. (NYSE:SD) Q4 2023 Earnings Conference Call March 7, 2024 11:00 AM ET Company Participants Scott Prestridge - SVP, Finance and Strategy Grayson Pranin - President, CEO & COO Brandon Brown - CFO & SVP Conference Call Participants Josh Young - Bison Interests David Cardell - BluePond Capital Operator Ladies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this time, I would like to welcome everyone to the SandRidge fourth-quar ...
SandRidge Energy(SD) - 2023 Q4 - Annual Results
2024-03-06 22:25
Exhibit 99.1 SANDRIDGE ENERGY, INC. ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2023, $0.11 PER SHARE CASH DIVIDEND, AND 2024 GUIDANCE Oklahoma City, Oklahoma, March 6, 2024 /PRNewswire/ – SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE:SD) today announced financial and operational results for the quarter and fiscal year ended December 31, 2023. Recent Highlights Financial Results & Update Profitability & Realized Pricing For the full year 2023, the Comp ...
SandRidge Energy(SD) - 2023 Q3 - Earnings Call Transcript
2023-11-08 02:00
SandRidge Energy, Inc. (NYSE:SD) Q3 2023 Earnings Conference Call November 7, 2023 2:00 PM ET Company Participants Scott Prestridge - Vice President-Finance & Treasury Grayson Pranin - Chief Executive Officer Brandon Brown - CFO Dean Parrish - SVP of Operations Operator Good day. My name is Karen, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Q3 2023 SandRidge Energy Conference Call. [Operator Instructions] I'd now like to turn the call over to Scott Prestr ...
SandRidge Energy(SD) - 2023 Q3 - Quarterly Report
2023-11-07 21:48
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33784 SANDRIDGE ENERGY, INC. (Exact name of registrant as specified in its charter) (State or other juris ...
SandRidge Energy(SD) - 2023 Q2 - Earnings Call Transcript
2023-08-04 23:07
SandRidge Energy, Inc. (NYSE:SD) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET Company Participants Scott Prestridge - Vice President-Finance & Treasury Grayson Pranin - Chief Executive Officer & Chief Operating Officer Salah Gamoudi - Chief Financial Officer & Chief Accounting Officer Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today. At this time, I would like to welcome everyone to the SandRi ...