SandRidge Energy, Inc.

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 [...]

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 [...]