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SandRidge Energy Announces Financial and Operational Results for Q1 2025

On May 7, 2025, SandRidge Energy, Inc. (NYSE: SD) released its impressive financial and operational results for the first quarter that ended on March 31, 2025. Alongside this announcement, the company declared a cash dividend of $0.11 per share, which will be payable on June 2, 2025, to shareholders of record by May 19, 2025.

Key Financial Highlights

The report shares several significant achievements, highlighting a net income of $13 million, translating to $0.35 per basic share. The adjusted net income also showed improvement, with figures reaching $14.5 million or $0.39 per basic share. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) tallied at $25.5 million for the quarter.

In terms of cash, as of March 31, 2025, SandRidge reported having $101.1 million in cash and cash equivalents, including restricted cash. Notably, the company repurchased $5.0 million worth of its stock in the first quarter of the year.

Operational Performance

SandRidge experienced an overall production average of 17.9 MBoe per day during this quarter, reflecting a significant 17% increase on a Boe basis compared to the same quarter in 2024. Specifically, oil production rose by 30%, contributing to a remarkable 41% increase in total revenues versus the same period last year. These positive outcomes were attributed to the Cherokee acquisition and better market price realisations.

Additionally, the company embarked on a one-rig drilling program in the Cherokee area, with the first well production expected to commence by mid-May 2025.

Financial Comparisons

When comparing the results from Q1 2025 to previous quarters, net income was slightly down from $17.6 million in Q4 2024, representing a decrease of $4.5 million. However, it shows an increase of approximately $1.9 million from $11.1 million in Q1 2024. Furthermore, the net cash provided by operating activities equated to $20.3 million, lower than the previous quarter’s figure of $26 million but higher than the previous year’s $15.7 million in Q1 2024.

Revenue Overview

In Q1 2025, revenues from oil, natural gas, and natural gas liquids (NGLs) amounted to $42.6 million compared to $30.3 million in Q1 2024, which indicates strong growth driven by the company’s strategic operational moves. The realized oil price per barrel stood at $69.88, down from $75.08 last year, while natural gas prices realized a boost to $2.69 per Mcf from $1.25 a year ago.

Cost Management

The company’s lease operating expense (LOE) reached $10.9 million, or $6.79 per Boe, improving operational efficiency compared to $7.92 per Boe in Q1 2024. The firm is committed to controlling operating costs thoroughly while maximizing the value of its assets through diligent expenditure management and operational enhancements.

Looking Ahead

Going forward, SandRidge Energy’s strategy focuses on expanding its asset base efficiently and safely, concentrating its efforts on high-return projects, particularly within the Cherokee Shale Play. The management remains keen on monitoring commodity prices and adapting operational plans accordingly, ensuring the sustainability of cash flows while prioritizing dividend payments to shareholders.

In adherence to environmental responsibilities, SandRidge is maintaining its commitment to ESG principles, such as minimized natural gas flaring and enhanced water transport methods, favouring pipeline systems over trucking.

The company invites interested parties to join its forthcoming conference call scheduled for May 8, 2025, at 1 p.m. CT to delve further into these results and discuss future earnings expectations.

About SandRidge Energy, Inc.

SandRidge Energy, Inc. is an independent oil and gas exploration and production firm focused primarily in the Mid-Continent region across Oklahoma, Texas, and Kansas. To learn more about the company, visit sandridgeenergy.com.