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]

SandRidge Energy, Inc. (SD) has released its financial and operational results for the second quarter of 2024, reflecting a mixed performance. The company's performance reflects challenges with declining production and revenues. However, SD's strategic acquisitions and strong liquidity position highlight its focus on long-term growth and stability. Here is a breakdown of the key metrics. Q2 Results SandRidge Energy reported second-quarter 2024 earnings per share of 17 cents, decreasing 55.3% from 38 cents i ...

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 ...

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].

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 ...

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 ...

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]