SandRidge Energy(US:SD)2021-05-12 13:51Company Strategy and Focus - SandRidge Energy's primary strategic focus is to grow the cash value and generation capability of its asset base to accelerate shareholder value realization in a safe, responsible, and efficient manner[7] - The company aims to extend and flatten its production profile with low capital, high return projects and well reactivations[7] - The company is focused on lower risk, PDP-weighted assets that fit its core cost efficiency and production optimization competencies for opportunistic acquisitions[7] Asset Base and Production - The company has a long-lived Midcon asset position with a more than 9 year average reserve life[11] - The company's Q1 2021 net production was 175 thousand barrels of oil equivalent per day (Mboe/d), with approximately 47% liquids[12] - The company's PD reserves are 602 million barrels of oil equivalent (MMBoe) with a PV-10 value of approximately $233 million[12] Financial Performance and Cost Reduction - The company has lowered its absolute LOE by more than 70% and its LOE per Boe by more than 40% since 2016[22] - The company has lowered its absolute and per Boe G&A by more than 60% since 2018[43] - The company achieved 1Q21 Gas and NGL realizations 52% and 79% higher, respectively, than their LTM averages[27] Safety and ESG Commitment - The company is approaching three years without a Total Recordable Incident Rate (TRIR), currently at 33 months[18] - The company has a disciplined ESG commitment with a focus on environmental, social, and governance aspects[5]