SandRidge Energy, Inc. today announced that Carl Giesler, Jr. has resigned as Chief Executive Officer, President and a member of the Board of Directors for the Company in order to pursue another career opportunity. Mr. Giesler's resignation will be effective July 16, 2021, and is not the result of any disagreement with the Company or any matter relating to the Company's operations, policies or practices. The Board has [...]
OKLAHOMA CITY, May 11, 2021 /PRNewswire/ -- SandRidge Energy, Inc. today announced financial and operational results for the quarter ended March 31, 2021. Results and highlights during the quarter: Improved net cash1 by $48.2 million to a net cash position of $56.5 million compared to a net cash position of $8.3 million at the end of the prior quarter, the increase was primarily due to the sale of North Park Basin [...]
In the news release, SandRidge Energy, Inc. Announces 2021 Second Quarter Operational and Financial Results Release Date and Conference Call Information, issued 04-May-2021 by SandRidge Energy, Inc. over PR Newswire, we are advised by the company that the headline should read "First Quarter" rather than "Second Quarter" as originally issued inadvertently. The complete, corrected release follows: [...]
SandRidge Energy, Inc. today announced plans to release first quarter 2021 operational and financial results after the close of trading on Tuesday, May 11, 2021. In conjunction with that release, the Company also plans to release an updated investor presentation. The presentation will be on the Company's website at http://investors.sandridgeenergy.com/Investor-Relations/. Management will host a live conference call on [...]
SandRidge Energy, Inc. today announced the acquisition of all the overriding royalty interest assets of SandRidge Mississippian Trust I . The gross purchase price is $4.85 million . At the current strip and based on historical production trends, the Company believes the Acquisition represents an attractive price-to-value, approximating PDP PV-55 and a 2-year cash-on-cash payback. Carl Giesler, President and CEO commented [...]
OKLAHOMA CITY, March 3, 2021 /PRNewswire/ -- SandRidge Energy, Inc. today announced financial and operational results for the quarter and fiscal year ended December 31, 2020. Results and highlights during the full year 2020: Decreased net debt1 by $55.4 million to a net cash position of $2.1 million compared to a net debt position of $53.2 million at the end of the prior year Generated Adjusted EBITDA of $53.4 million [...]
SandRidge Energy, Inc. today announced the closing of the previously announced divestiture of its North Park Basin assets in Colorado for $47 million in cash, subject to customary effective-date adjustments. About SandRidge Energy, Inc. SandRidge Energy, Inc. is an independent oil and gas company engaged in the development and acquisition of oil and gas properties. Its primary areas of operation are the Mid-Continent in [...]
SandRidge Energy, Inc. today announced that it has entered into a definitive agreement for the sale of its North Park Basin assets . The consideration is $47 million in cash subject to customary post-closing adjustments. The effective date is October 1, 2020, and the transaction is expected to close during the first quarter of 2021. NPB accounted for less than 10% of the Company's production during the quarter ended [...]
SandRidge Energy, Inc. today announced the closing of a $30 million credit facility . The New Credit Facility is with affiliates of Icahn Enterprises, and consists of a $10 million revolving loan facility and a $20 million term loan facility. The New Credit Facility replaced the Company's prior credit agreement which was with a lending syndicate led by Royal Bank of Canada. The Prior Credit Facility was terminated [...]
OKLAHOMA CITY, Nov. 4, 2020 /PRNewswire/ – SandRidge Energy, Inc. today announced financial and operational results for the quarter ended September 30, 2020. Results and highlights during the quarter: Decreased net debt1 by $44.7 million to $0.8 million compared to $45.5 million at the end of the prior quarter Generated Adjusted EBITDA of $15.4 million compared to $8.8 million in the prior quarter Produced 22.3 MBoepd [...]
SandRidge Energy, Inc. today announced the closing on the sale of the Company's 30-story office tower and annex with parking and ancillary uses located at 123 Robert S. Kerr, Oklahoma City, Oklahoma 73102 , for net proceeds of approximately $35.4 million. As of June 30, 2020, the Company had approximately $14.9 million in cash and $59.0 million in outstanding debt under the Company's revolving credit facility. The $35.4 [...]
SandRidge Energy, Inc. today announced financial and operational results for the quarter ended June 30, 2020. Results and highlights during the quarter: Produced 23.6 MBoepd for the quarter Incurred a net loss of $215.8 million, or $6.06 per share, driven largely by significantly challenged commodity prices, a non-cash ceiling test write down and an impairment charge to the value of the Company's office headquarters, and [...]
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