Sandridge Energy Stock Price, News & Analysis

SandRidge Energy reported strong financial results for the year ending December 31, 2022, showcasing a net income of $242.2 million, translating to $6.59 per basic share. Adjusted net income stood at $171.5 million, or $4.67 per share, alongside a 63% free cash flow conversion rate. The company maintained stable production levels at an average of 17.7 MBoed and successfully executed new drilling programs, completing six wells. Operationally, SandRidge improved its production capabilities by returning 50 wells to production in 2022. However, lease operating expenses saw an increase over the prior year, affecting overall operating costs.

SandRidge Energy reported a net income of $53.7 million for Q3 2022, equivalent to $1.46 per share. Adjusted EBITDA reached $54.8 million, marking a slight increase from the prior quarter. The company maintained production at 17.8 MBoed, with 42 wells returned to production in 2022. SandRidge generated $36.3 million in free cash flow, with a conversion rate of 66%. Despite rising operating and administrative costs, the company remains debt-free, holding $240.6 million in cash and equivalents. Future plans include continued well reactivations and efficient capital project allocations.

SandRidge Energy, Inc. (NYSE: SD) will release its third quarter 2022 operational and financial results on November 2, 2022, after trading closes. A conference call to discuss these results will take place on November 3, 2022, at 10:00 a.m. Central Time. Participants can register in advance to receive dial-in information. The call will also be accessible via a live audio webcast on the Company's website, which will be archived for 30 days.

On October 6, 2022, SandRidge Energy, Inc. (NYSE: SD) announced the election of Nancy Dunlap to its Board of Directors. Dunlap, aged 70, has extensive experience, serving as private counsel for Jon S. Corzine since 1999 and a director at Icahn Enterprises G.P. Inc. since April 2021. She was also a director at CVR Refining from July 2018 to February 2019. Chairman Jonathan Frates expressed enthusiasm about her appointment, highlighting her expertise as a means to enhance shareholder value.

SandRidge Energy, NYSE: SD, reported financial results for Q2 2022, generating Adjusted EBITDA of $53.7 million and net income of $48.5 million ($1.32 per share). Production remained steady at 17.8 MBoed despite no new completions. The company returned 29 wells to production in H1 2022 and is increasing its drilling program from 9 to 12 wells. Operating costs decreased, with lease operating expenses at $9.5 million. Total capital expenditures for 2022 are guided to be between $56-$70 million, with projected production of 5.9-7.1 MMBoe.

SandRidge Energy, Inc. (NYSE: SD) will release its second quarter 2022 operational and financial results on August 3, 2022, post-market close. Following this, a conference call is scheduled for August 4, 2022, at 10:00 a.m. CT to discuss the results and operational highlights. Interested participants can join via telephone or access a live webcast from the company's website. SandRidge operates primarily in the Mid-Continent region, focusing on the development and acquisition of oil and gas properties.

SandRidge Energy (NYSE: SD) reported strong financial results for Q1 2022, generating an Adjusted EBITDA of $39.4 million and a net income of $34.7 million, or $0.95 per share. Production rose to 17.8 MBoed, up from 17.5 MBoed in Q1 2021. The company returned 139 wells to production since 2021 and proactively acquired $4.7 million in materials to mitigate inflation impacts. Operating cash flow was $39.1 million, and cash reserves stood at $165.8 million with no debt obligations, indicating solid financial health.

SandRidge Energy, Inc. (NYSE: SD) will release its first quarter 2022 operational and financial results on May 4, 2022, after market close. A conference call to discuss these results will take place on May 5, 2022, at 10:00 a.m. Central Time. Interested parties can register for the call online and access a live audio webcast on the company's website. SandRidge operates primarily in the Mid-Continent region of Oklahoma and Kansas, focused on the development and acquisition of oil and gas properties.