SANDRIDGE ENERGY, INC. ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2024, $0.11 PER SHARE CASH DIVIDEND, AND 2025 GUIDANCE

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]