SandRidge Energy(SD) - 2024 Q4 - Annual Report

Financial Performance - SandRidge 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 a 20% profit margin for the last quarter[12]. - The company anticipates a 10% growth in revenue for the next quarter, driven by increased production and favorable market conditions[66]. 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 increased to 100 million Boe, reflecting a 10% growth from the previous year[12]. - The company reported a significant increase in oil and natural gas production, achieving a total output of 1.2 million barrels of oil equivalent per day, representing a 15% increase year-over-year[66]. - The company experienced a 15% increase in oil production, reaching an average of 25,000 barrels per day in the last quarter[67]. - The company anticipates a 10% growth in natural gas production, projecting an average of 50 million cubic feet per day for the next quarter[67]. - The company has identified 200,000 acres of undeveloped acreage, with plans to drill 50 new wells in the next fiscal year, which is expected to enhance production capacity by 20%[67]. Capital Expenditures and Investments - The company reported a significant increase in capital expenditures, projecting a total of $150 million for the upcoming fiscal year, which represents a 20% increase compared to the previous year[67]. - Capital expenditures for the upcoming year are projected to be$ 500 million, focusing on new drilling projects and technology upgrades[67]. - The company plans to allocate $50 million towards new technology development in the upcoming fiscal year[12]. - The company plans to invest$ 30 million in new technology for hydraulic fracturing to enhance production efficiency[67]. Cost Management - The company has set a production cost target of $15 per Boe, aiming for a 5% reduction in operational expenses[12]. - The company reported a 5% decline in operating costs per barrel, bringing it down to$ 18 per barrel[67]. - The company has identified $50 million in potential cost savings through operational efficiencies over the next two years[67]. Market Strategy and Expansion - SandRidge is expanding its market presence in the North Park Basin, targeting an additional 20,000 acres for exploration[12]. - The company is focusing on expanding its operations in the Mid-Continent region, which currently accounts for 70% of its total production[67]. - The company is exploring potential acquisition opportunities to enhance its asset portfolio in the next 12 months[12]. - The company is exploring potential acquisitions to increase its reserve base, targeting assets with a combined value of$ 200 million[67]. - The company is exploring strategic acquisitions to expand its market presence, particularly in the Gulf of Mexico region[67]. Guidance and Future Outlook - SandRidge's management has provided guidance for the next quarter, projecting revenues between $160 million and$ 170 million[12]. - The company expects to maintain its dividend at $0.10 per share, reflecting a commitment to returning value to shareholders[67]. - The company expects to maintain its dividend at$ 0.50 per share, reflecting confidence in its cash flow generation capabilities[66]. - Forward-looking statements indicate potential risks including commodity price volatility and regulatory changes that could impact operations[66]. Regulatory and Operational Challenges - The company is facing regulatory challenges that could impact future drilling activities, particularly in states with stricter environmental regulations[67]. - A new technology for enhanced oil recovery is currently in development, which is expected to improve recovery rates by 15% once implemented[67].