SandRidge Energy, Inc.

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 [...]

SandRidge Energy, Inc. today announced that its Board of Directors adopted a tax benefits preservation plan designed to protect the availability of SandRidge's net operating loss carryforwards under the Internal Revenue Code . As of December 31, 2019, SandRidge had approximately $1.4 billion of usable U.S. federal NOLs that could be available to offset its future federal taxable income. SandRidge's ability to use these [...]

SandRidge Energy, Inc. today announced financial and operational results for the quarter ended March 31, 2020. Results and highlights during the quarter: Produced 28.2 MBoepd for the quarter Incurred a net loss of $13 million, or $0.36 per share, driven largely by a non-cash ceiling test write down, and adjusted net loss of $7 million, or $0.21 per share Generated Adjusted EBITDA of $20 million for the quarter Decreased [...]

SandRidge Energy, Inc. today announced new leadership as well as further initiatives to realize shareholder value. The Company named Carl F. Giesler, Jr. as its President and Chief Executive Officer. Most recently, Mr. Giesler led the cost and operational turnaround and subsequent cash sale in January for Jones Energy, Inc. . At Jones Energy, Mr. Giesler led a team that significantly right-sized that company's [...]

SandRidge Energy, Inc. today announced financial and operational results for the quarter and fiscal year ended December 31, 2019. Results and highlights during the fourth quarter and full year 2019: Fourth quarter net loss of $249 million, or $7.01 per share, driven largely by a non-cash ceiling test write down, and adjusted net loss of $4 million, or $0.11 per share Fourth quarter adjusted EBITDA increased 24 [...]

SandRidge Energy, Inc. today announced it has initiated a series of actions designed to improve shareholder value: Evaluation of minimal 2020 capex plan to maximize free cash flow John P. Suter named Interim President & CEO following departure of Paul D. McKinney The Company will be focusing on actions to maximize value to shareholders, which will include evaluation of the 2020 capital expenditure program in light of [...]

 SandRidge Energy, Inc. today announced financial and operational results for the quarter ended September 30, 2019. Highlights during the third quarter: Reduced G&A by 38% and Adjusted G&A by 39%, quarter over quarter Reduced full year 2019 capital expenditures and adjusted G&A guidance midpoints Net loss of $182 million, or $5.12 per share, driven largely by a non-cash ceiling test write down, and adjusted net loss of [...]

SandRidge Energy, Inc. today announced financial and operational results for the quarter ended June 30, 2019. Highlights during the second quarter: Oil production increased 16% quarter over quarter to 984 MBbls Total production increased 2% quarter over quarter to 3.2 MMBoe Reduced annual cash G&A run rate by $6 million Net loss of $13 million, or $0.38 per share, driven by changes in commodity prices and a reduction in [...]

SandRidge Energy, Inc. will release its 2019 second quarter financial and operational results after the close of trading on the New York Stock Exchange on Wednesday, August 7, 2019. The company will host a conference call to discuss these results on Thursday, August 8, 2019 at 8:00am CT.  The telephone number to access the conference call from within the U.S. is 245-9650 and from outside the U.S. is 689-4222.  The [...]