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SandRidge Energy, Inc. - SD STOCK NEWS

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) is a prominent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. With a principal focus on the U.S. Mid-Continent and the Niobrara Shale, SandRidge Energy prides itself on developing high-return, growth-oriented projects. The company's business activities span across Exploration and Production, Drilling and Oil Field Services, and Midstream Gas Services.

Recent financial results demonstrate SandRidge's solid performance. For the three-month period ending June 30, 2023, the company reported a net income of $16.6 million, or $0.45 per basic share, with a net cash flow from operating activities amounting to $24.0 million. Additionally, SandRidge generated approximately $39.5 million of free cash flow for the six-month period ending June 30, 2023. The company maintains a robust liquidity position with $224.0 million in cash and cash equivalents as of June 30, 2023, and has no outstanding debt obligations.

Operationally, SandRidge's production for the second quarter of 2023 totaled 1,593 MBoe, with a composition of 18% oil, 54% natural gas, and 28% NGLs. The company's continuous development programs, such as those targeting the Meramec formation, have yielded higher oil content, thereby enhancing total production and commodity price realizations.

The company is dedicated to its Environmental, Social, and Governance (ESG) commitments, including no routine flaring of produced natural gas and transporting approximately 97% of its produced water via pipeline. SandRidge also emphasizes safety and training for its workforce, ensuring high safety standards in daily operations.

SandRidge Energy’s community engagement is noteworthy, particularly through its “give, share, serve” initiative. Employees enthusiastically participate in community programs and partnerships with local schools, demonstrating the company's commitment to social responsibility.

SandRidge Energy continues to pursue strategic initiatives to enhance shareholder value, including disciplined capital allocation, prudent development programs, and potential merger and acquisition opportunities that align with its core competencies. The company’s future development projects aim to leverage its strong asset base, particularly with a 99% held-by-production acreage, ensuring optimal project timing aligned with favorable commodity prices.

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SandRidge Energy, Inc. (SD) reported strong financial results for 2023 with net income of $60.9 million and adjusted EBITDA of $93.2 million. The Company declared a $0.11 per share cash dividend and paid $3.70 per share in cumulative dividends in 2023. Production averaged 16.9 MBoed in 2023, showing a 10% increase in oil production year-over-year.
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SandRidge Energy, Inc. plans to release fourth quarter and full year 2023 operational and financial results on March 6, 2024. A conference call is scheduled for March 7, 2024, to review the results and operational highlights.
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SandRidge Energy, Inc. announced a one-time dividend of $1.50 per share and an ongoing quarterly dividend increase to $0.11 per share. The one-time dividend totals approximately $55 million and will be payable on February 20, 2024. The Board also plans to increase the ongoing quarterly dividend starting with the next payout in March 2024. The company aims to maintain resources for mergers and acquisitions, focus on growing its asset base, and exercise prudent capital allocation.
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SandRidge Energy, Inc. announces financial and operational results for Q3 2023, including a $0.10 per share cash dividend. Net income for the quarter was $18.7 million, or $0.51 per basic share. Adjusted EBITDA was $22.6 million. The company generated $24.2 million of free cash flow for the quarter. G&A expense was $2.6 million. The company had $232.2 million of cash and cash equivalents as of September 30, 2023. The dividend payable on November 27, 2023, is part of the company's ongoing cash dividend program.
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SandRidge Energy, Inc. reported second quarter net income of $16.6 million and adjusted net income of $14.0 million. The company generated approximately $39.5 million of free cash flow in the six-month period ended June 30, 2023. SandRidge also announced a $0.10 per share cash dividend payable on August 28, 2023. The company closed an acquisition to increase its working interest in twenty-six wells within the Northwest Stack play. Production totaled 1,593 MBoe for the second quarter, with a focus on increasing oil content.
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SandRidge Energy, Inc. announced a one-time dividend of $2.00 per share, totaling approximately $74 million, payable on June 7, 2023. They also planned an ongoing quarterly dividend of $0.10 per share starting in August 2023. Additionally, the company authorized a $75 million stock buyback program.
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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.

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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.

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FAQ

What is the current stock price of SandRidge Energy (SD)?

The current stock price of SandRidge Energy (SD) is $11.85 as of January 31, 2025.

What is the market cap of SandRidge Energy (SD)?

The market cap of SandRidge Energy (SD) is approximately 441.7M.

What is SandRidge Energy, Inc.'s primary business?

SandRidge Energy, Inc. is primarily engaged in the exploration, development, and production of oil and natural gas, with operations focused in the U.S. Mid-Continent and Niobrara Shale.

Where is SandRidge Energy headquartered?

SandRidge Energy is headquartered in Oklahoma City, Oklahoma.

What are SandRidge Energy's main operational areas?

The company's main operational areas include the Mid-Continent region in Oklahoma and Kansas, and the Niobrara Shale.

How did SandRidge Energy perform financially in recent quarters?

For the three-month period ending June 30, 2023, SandRidge reported a net income of $16.6 million and net cash provided by operating activities of $24.0 million.

What is SandRidge Energy's approach to environmental responsibility?

SandRidge Energy is committed to ESG principles, including no routine flaring of natural gas and transporting around 97% of produced water via pipeline.

Does SandRidge Energy pay dividends?

Yes, SandRidge announced a one-time cash dividend of $2.00 per share in May 2023 and ongoing quarterly cash dividends of $0.10 per share.

What recent operational achievements has SandRidge Energy reported?

SandRidge completed two wells targeting the Meramec formation and ten artificial lift conversions, enhancing production and lowering costs.

What is the company's financial position regarding debt?

As of June 30, 2023, SandRidge Energy had no outstanding term or revolving debt obligations.

How does SandRidge Energy engage with the community?

Through the “give, share, serve” initiative, SandRidge employees participate in community programs and partnerships with local schools.

What are SandRidge Energy's future plans?

SandRidge plans to focus on high-return projects, potential mergers, and acquisitions, while maintaining disciplined capital allocation to maximize shareholder value.
SandRidge Energy, Inc.

NYSE:SD

SD Rankings

SD Stock Data

441.73M
36.46M
2.02%
70.17%
1.59%
Oil & Gas E&P
Crude Petroleum & Natural Gas
Link
United States of America
OKLAHOMA CITY