SANDRIDGE ENERGY, INC. ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE THREE AND NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2025 AND DECLARES DIVIDEND OF $0.12 PER SHARE

Core Insights - SandRidge Energy, Inc. reported strong financial and operational results for Q3 2025, highlighting successes in its Cherokee drilling campaign and a commitment to safety with four years without a recordable safety incident [3][4][10]. Financial Results - Net income for Q3 2025 was $15.953 million, down from $19.558 million in Q2 2025 and $25.484 million in Q3 2024, reflecting a decrease of 18.4% and 37.6% respectively [4]. - Adjusted net income for Q3 2025 was $15.478 million, compared to $12.236 million in Q2 2025 and $7.057 million in Q3 2024, marking an increase of 26.5% and 119.5% respectively [4]. - Adjusted EBITDA for Q3 2025 was $27.285 million, up from $22.822 million in Q2 2025 and $17.742 million in Q3 2024, representing increases of 19.4% and 53.9% respectively [4][10]. Operational Results - Total production for Q3 2025 was 1,745 MBoe, an increase of 7.8% from Q2 2025 and 12% from Q3 2024 [5][10]. - Oil production increased by 49% year-over-year, contributing to a total revenue increase of 32% compared to Q3 2024 [10][11]. - The company achieved average realized prices of $65.23 per barrel for oil and $1.71 per Mcf for natural gas in Q3 2025 [5][10]. Drilling and Completion Operations - Three wells from the Cherokee development program were turned to sales in Q3 2025, with average peak 30-day initial production rates of approximately 2,000 gross Boe per day [7][8]. - The first well in the Cherokee program produced over 275,000 gross Boe in its first 170 days of production [8]. Operating Costs - Lease operating expenses for Q3 2025 totaled $10.9 million, with a per Boe cost of $6.25, reflecting an increase from the previous year due to higher labor and utility costs [9][10]. Liquidity and Capital Structure - As of September 30, 2025, the company had $102.6 million in cash and cash equivalents, with no outstanding debt [10][11]. - A dividend of $0.12 per share was declared on November 4, 2025, payable on November 28, 2025 [10][13]. Capital Expenditures - Capital expenditures for the nine months ended September 30, 2025, were $50.638 million, primarily for drilling and completion activities [25]. Environmental, Social, and Governance (ESG) - SandRidge maintains a commitment to ESG principles, including no routine flaring of natural gas and a focus on safety and efficiency in operations [17].