Welcome to our dedicated page for Sandridge Energy news (Ticker: SD), a resource for investors and traders seeking the latest updates and insights on Sandridge Energy stock.
Sandridge Energy Inc. (NYSE: SD) maintains an active presence in U.S. hydrocarbon exploration with focused operations across the Mid-Continent region. This news hub provides investors and industry observers with essential updates about the company's strategic initiatives and operational developments.
Access consolidated coverage of SD's official communications including quarterly results, asset acquisitions, and technology implementations. Our repository features verified updates on drilling advancements, partnership agreements, and community engagement programs aligned with the company's operational philosophy.
Key content categories include earnings announcements, joint venture details, production capacity updates, and leadership communications. Each update is curated to reflect SD's commitment to efficient resource development and stakeholder transparency.
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SandRidge Energy (NYSE: SD) has announced a $144 million acquisition of assets in the Western Anadarko Basin's Cherokee play. The deal includes:
- Net production of ~6 MBoed (40% oil) in Ellis and Roger Mills Counties, Oklahoma
- 42 producing wells and 4 drilled uncompleted wells
- Leasehold interest in 11 drilling spacing units, adding inventory of up to 22 two-mile lateral wells
SandRidge also entered a Joint Development Agreement for future development of certain acquired leasehold interests. The acquisition is expected to be immediately accretive to key metrics, including production, EBITDA, and free cash flow. The company plans to fund the transaction with cash on hand, with an anticipated closing in Q3 2024.
SandRidge Energy, Inc. announced financial results for Q1 2024, including a $0.11 per share cash dividend. Net income was $11.1 million, adjusted net income was $8.4 million. Adjusted EBITDA was $14.7 million. Company had $208.5 million in cash. Operating costs and expenses were managed efficiently. Production totaled 1,376 MBoe. Revenues were $30.3 million. Company continues to focus on production optimization and high-return projects.
SandRidge Energy, Inc. announced plans to release first quarter 2024 operational and financial results, with a conference call scheduled for May 8, 2024. The company is an independent oil and gas company operating in the Mid-Continent region.
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