SandRidge Energy(US:SD)2025-11-06 22:15Production and Revenue - Total MBoe production for Q3 2025 was 1,745 MBoe, a 11.6% increase from 1,563 MBoe in Q3 2024[84] - Oil production for Q3 2025 was 344 MBbls, up 49% from 231 MBbls in Q3 2024[89] - Average daily total volumes increased to 19.0 MBoe/d in Q3 2025, compared to 17.0 MBoe/d in Q3 2024[89] - Oil revenues increased by $5.54 million to $22.42 million for the three months ended September 30, 2025, compared to $16.87 million in 2024[88] - Natural gas revenues rose by $4.17 million to $8.52 million for the three months ended September 30, 2025, compared to $4.35 million in 2024[88] - Total revenues for the three months ended September 30, 2025, were $39.82 million, an increase of 32.4% compared to $30.06 million in the same period of 2024[88] - Oil revenues for Q3 2025 were $39,822,000, up from $30,057,000 in Q3 2024, reflecting a 32.5% increase[91] Expenses and Financial Performance - Total operating expenses for Q3 2025 were $24,104,000, an increase of 15.5% from $20,867,000 in Q3 2024[92] - Lease operating expenses for Q3 2025 were $10.91 million, an increase from $9.10 million in Q3 2024[92] - General and administrative expenses increased by $0.43 million to $2.74 million for the three months ended September 30, 2025, compared to $2.30 million in 2024[99] - Lease operating expenses per Boe increased to $6.25 in Q3 2025 from $5.82 in Q3 2024[92] - General and administrative expenses rose to $2,737,000 in Q3 2025, up from $2,304,000 in Q3 2024, a 18.8% increase[99] Cash Flow and Capital Expenditures - Cash flows from operating activities increased to $68.45 million for the nine months ended September 30, 2025, up from $47.94 million in 2024[107] - Capital expenditures for the nine months ended September 30, 2025, totaled $50.64 million, significantly higher than $13.46 million in 2024[109] - Total capital expenditures, including acquisitions, amounted to $58.43 million for the nine months ended September 30, 2025, down from $139.41 million in 2024[109] - Cash flows used in investing activities decreased significantly to $(46.13) million for the nine months ended September 30, 2025, compared to $(138.66) million in 2024[107] - The company reported a net increase in cash and cash equivalents of $3.08 million for the nine months ended September 30, 2025, contrasting with a net decrease of $(159.86) million in 2024[107] Debt and Working Capital - The company had no outstanding term or revolving debt obligations as of September 30, 2025[103] - Working capital increased to $73.8 million at September 30, 2025, compared to $67.1 million at December 31, 2024[105] - Cash and cash equivalents as of September 30, 2025, totaled $102.6 million, with no outstanding debt obligations[103] Strategic Focus and Future Outlook - The company is focused on one-rig development in the Cherokee Shale Play and evaluating merger and acquisition opportunities[85] - Total leasehold position is approximately 95% held by production, supporting future development[85] - The company plans to adjust capital activity based on commodity prices and project results to optimize returns[85] - The estimated SEC prices for the fourth quarter of 2025 are projected to be $65.45 per barrel of oil and $3.33 per MMBtu of natural gas[97] Shareholder Returns - The company paid total cash dividends of $165.9 million since 2023, equating to $4.48 per share in total dividends, which includes $3.50 per share in special dividends and $0.98 per share in quarterly dividends[110]