Sandridge Energy Stock Price, News & Analysis

SandRidge Energy, Inc. (SD) announced its Q2 2021 results, reporting a net income of $16.3 million, equating to $0.45 per share. The company’s net cash increased to $70.6 million, while total cash and cash equivalents reached $90.6 million. A share repurchase program was initiated, allowing up to $25 million in stock buybacks starting August 16, 2021, aimed at returning value to shareholders. Production rose to 19.0 MBoed, a notable increase from the previous quarter, despite no new drilling activity. The company also acquired overriding royalty interests for $3.6 million.

SandRidge Energy, Inc. (NYSE: SD) will announce its second quarter 2021 operational and financial results after market close on August 10, 2021. An updated investor presentation will also be available on the company’s website. A conference call to discuss the results is scheduled for August 11, 2021, at 10:00 a.m. Central Time, accessible through online registration. Participants can also listen to a live audio webcast on the company’s website, which will be archived for 30 days.

SandRidge Energy (NYSE: SD) announced the resignation of CEO Carl Giesler, effective July 16, 2021, who is leaving for another career opportunity without disagreements. The Board appointed Grayson Pranin, the current COO, as the new CEO, highlighting his past contributions to right-sizing the company's cost structure and maximizing cash flow. Jonathan Frates, Chairman, expressed gratitude for Giesler's leadership during a challenging period and voiced confidence in Pranin's capabilities to steer the company forward.

SandRidge Energy reported Q1 2021 financial results showing significant improvements in net cash and adjusted EBITDA. Net cash rose by $48.2 million to $56.5 million, driven by the $47 million sale of North Park Basin. Adjusted EBITDA increased to $21.7 million from $9.1 million, reflecting higher commodity prices. However, total production dropped to 18.2 MBoed from 21.1 MBoed. Net income reached $35.0 million, equating to $0.97 per share, while adjusted net income was $17.4 million, or $0.48 per share. Operating cash flow was reported at $19.6 million.

SandRidge Energy, Inc. (NYSE: SD) has scheduled the release of its first quarter 2021 operational and financial results for May 11, 2021, after market close. An updated investor presentation will accompany this release and be available on the company's website. Additionally, management will conduct a live conference call on May 12, 2021, at 10:00 a.m. Central Time to discuss these results and highlights.

SandRidge Energy, Inc. (NYSE:SD) announced the acquisition of overriding royalty interest assets from SandRidge Mississippian Trust I for $4.85 million, netting $3.55 million due to a 26.9% ownership stake. The acquisition is deemed attractive based on projected cash flow and production trends, with expectations of a 2-year cash-on-cash payback. President and CEO Carl Giesler emphasized that this strategic move will enhance the company's reserves, netbacks, and cash flow, reflecting a commitment to shareholder value.

SandRidge Energy reported its financial results for Q4 and FY 2020, highlighting a significant net loss of $277.4 million, translating to $7.77 per share, largely due to lower commodity prices and impairment charges. Revenue fell to $115 million from $266 million in 2019. The company improved its net debt position, achieving a net cash position of $2.1 million. Adjusted EBITDA for the year was $53.4 million, down from $134.8 million. Production dropped to 23.8 MBoed from 32.8 MBoed. Successful asset sales included the North Park Basin for $47 million and the headquarters building for $35.4 million.

SandRidge Energy, Inc. (NYSE: SD) has successfully closed the sale of its North Park Basin assets in Colorado for $47 million in cash. This divestiture, first announced earlier, is subject to customary effective-date adjustments. SandRidge continues to focus on the development and acquisition of oil and gas properties, primarily in the Mid-Continent regions of Oklahoma and Kansas. Further details about the company’s operations can be found on its official website.

SandRidge Energy announced a definitive agreement to sell its North Park Basin assets for $47 million, with the transaction expected to close in the first quarter of 2021. The effective date for the sale is October 1, 2020. NPB contributed less than 10% of the company’s production and proved developed reserves as of September 30, 2020, and December 31, 2019, respectively. CEO Carl Giesler stated that this sale enhances shareholder value, aligning with the company’s focus on cash optimization.