SD

Interested in SandRidge Energy, Inc.? Here are five stocks we like better. Strong second-quarter performance: Production rose 11% year over year to 19.7 MBOE per day, while revenue increased 48% to more than $51 million and adjusted EBITDA climbed 49% to $34 million. Operating cash flow nearly doubled to $42.4 million. Debt-free with shareholder returns: SandRidge ended the quarter with about $115 million in cash and no debt, paid $10.6 million in dividends, and declared another $0.13-per-share dividend. The company expects operating cash flow to fund 2026 capital spending and distributions. Cherokee expansion remains central to growth: SandRidge plans to drill 10 operated Cherokee wells in 2026 and expects its pending acquisition to add 7,000 net leasehold acres and interests in 21 wells. Recent Cherokee wells delivered strong production, including a step-out well averaging about 11,000 Mcfe per day over 90 days. 3 High-Value Companies With Triple-Digit Upside Potential SandRidge Energy (NYSE:SD) reported higher second-quarter production, revenue and cash flow, supported by its operated Cherokee development program and stronger oil prices, while outlining plans to expand its position in the Mid-Continent through a bolt-on acquisition. Chief Executive Officer Grayson Pranin said the company delivered a “strong quarter and first half,” with year-over-year growth in production and revenue. He also highlighted the announced Cherokee Play transaction, which is expected to add oil-weighted production and additional development inventory. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling 3 Stocks to Gain From the Rising Demand in Offshore Drilling Executive Vice President and Chief Financial Officer Jonathan Frates said total production reached 19.7 MBOE per day during the quarter, up 11% year over year on a barrel-of-oil-equivalent basis. Oil production increased 22% from the comparable period a year earlier. Revenue totaled just over $51 million, up 48% year over year, while adjusted EBITDA rose 49% to $34 million. Net income was approximately $27 million, or $0.72 per common share, compared with $19.6 million, or $0.53 per share, in the prior-year period. Adjusted net income was about $21 million, or $0.57 per share, versus $12.2 million, or $0.33 per share, a year earlier. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Oil & Gas Producer Denbury Etching Cup-With-Handle Base Cash flow from operations increased to $42.4 million from $22.9 million in the year-earlier quarter. Adjusted operating cash flow was $34.6 million, compared with $25.6 million in the second quarter of 2025. Oil averaged roughly $95 per barrel during the period, Frates said, while natural gas prices fell to just above $3. Before hedges, SandRidge realized $95.35 per barrel of oil, $1.36 per Mcfe of natural gas and $21.68 per barrel of natural gas liquids. The company said its gas realization declined meaningfully from the first quarter, primarily due to widening regional price differentials. → No Hangover: Revisiting Microsoft One Week After Earnings SandRidge ended the quarter with approximately $115 million in cash, including restricted cash, or about $3.09 per common share outstanding. The company reported no debt and said it expects to fund its 2026 capital expenditures and shareholder returns from operating cash flow. The company paid $10.6 million in dividends during the quarter, including its regular quarterly dividend of $0.13 per share and a previously announced one-time special dividend of $0.20 per share. Including special dividends, SandRidge said it has paid $5.05 per share in dividends since the beginning of 2023. On Aug. 4, 2026, the board declared another $0.13-per-share dividend, payable Aug. 31 to shareholders of record as of Aug. 19. Shareholders may elect cash or additional common shares through the company’s dividend reinvestment plan. Frates said the company has hedged just under 30% of the midpoint of its 2026 production guidance using swaps and collars. That includes 37% of expected natural gas production and 43% of oil production. Chief Operating Officer Dean Parrish said second-quarter capital spending, excluding acquisitions and divestitures, was $16.3 million, below expectations largely because of activity timing. The company attributed lower costs in part to a competitive bidding process for drilling and completion work in the Cherokee Play, as well as improved artificial-lift run times. Lease operating expense was $10.3 million, or $5.73 per BOE, in line with expectations. Adjusted general and administrative expense was $2.7 million, or $1.52 per BOE, compared with $2.4 million, or $1.48 per BOE, in the second quarter of 2025. SandRidge brought two wells online during the quarter and two additional wells online in July. It was drilling the sixth of 10 planned Cherokee wells for 2026 at the time of the call. Parrish said the fourth well drilled in the program was the company’s fastest and lowest-cost well to date. The company also recompleted a shut-in legacy well in an uphole zone, which produced initially at 1,400 Mcfe per day and 4 barrels of oil per day, exceeding expectations, according to Parrish. SandRidge plans to drill 10 operated Cherokee wells and complete nine during 2026. One completion is expected to carry into 2027. Estimated gross well costs range from approximately $9 million to $11 million, depending on depth. The 2026 capital program is projected at $76 million to $97 million, including $62 million to $80 million for drilling and completions. Pranin said SandRidge signed an agreement on June 29 to acquire producing assets and leasehold interests in the Cherokee Play. The transaction would add 7,000 net leasehold acres and interests in 21 wells, including interests in four SandRidge-operated wells. The acquired undeveloped leasehold includes four two-and-a-half-mile wells and four two-mile wells that offset SandRidge’s core position in Roger Mills County. The operated producing wells being acquired had an average 30-day initial production rate of more than 2,100 BOE per day, with oil representing 58% of production, according to Pranin. The company expects the acquisition to close in the third quarter and does not currently plan to add employees as a result of the transaction. One Cherokee Shale well brought online during the quarter reached a peak 30-day average rate of about 2,000 BOE per day, consistent with nearby wells, Pranin said. A separate step-out well targeting a sub-member below the Cherokee Shale produced more than 10,000 Mcfe per day and more than 100 barrels of oil per day over its initial 30 days. Its 90-day average was approximately 11,000 Mcfe per day, with cumulative production exceeding 1 billion cubic feet after 100 days. SandRidge said it is still assessing long-term recoveries and whether the new target could support stacked-pay development opportunities, but plans to remain deliberate as it gathers additional production history. SandRidge Energy, Inc (NYSE: SD) is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge's asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency. Founded in 2006 by industry veteran Tom L. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "SandRidge Energy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. SandRidge Energy Inc (NYSE:SD) reported a strong quarter with revenue up 48% year-over-year to $51 million and adjusted EBITDA up 49% to $34 million. The company successfully brought online two new Cherokee wells with strong initial production rates, including one well with a 30-day average of 2,000 BOE per day. SandRidge Energy Inc (NYSE:SD) announced a bolt-on acquisition in the Cherokee play, adding 7,000 net acres and 21 wells, which is expected to expand its footprint and bolster inventory. The company maintains a debt-free balance sheet with approximately $115 million in cash, providing financial flexibility and supporting its capital return program. SandRidge Energy Inc (NYSE:SD) continues to return capital to shareholders, having paid $5.05 per share in dividends since 2023, including a recent special dividend. The company's low-cost operations are evident with adjusted G&A of $1.52 per BOE, which continues to lead among peers. A recompleted legacy well exceeded expectations with initial production rates of 1,400 mcf per day and 4 barrels of oil per day, showcasing value extraction from existing assets. The company has a strong safety record with over 4.5 years without a recordable safety incident, reflecting operational excellence. SandRidge Energy Inc (NYSE:SD) benefits from approximately $1.5 billion in federal net operating losses, shielding income from taxes. The company is exploring a new sub-member of the Cherokee formation with promising results, potentially adding further development options. Natural gas prices fell significantly during the quarter, with realized prices dropping to $1.36 per MCF from $3.13 in the prior quarter, due to widening regional differentials. The company's capital expenditure for the quarter was $16.3 million, which was better than expected but still represents a significant cash outflow. Lease operating expenses increased to $5.73 per BOE, up from $5.25 per BOE in the prior year, reflecting inflationary pressures. The company faces potential supply chain and inflationary pressures, though it is mitigating these by securing critical components in advance. The company's production is only partially hedged, with just under 30% of 2026 guidance hedged, leaving it exposed to commodity price volatility. The new Cherokee sub-member well, while promising, is still under assessment, and long-term recoveries are uncertain, requiring patience and further data. The company's dividend of $0.13 per share is modest, and the special dividend was one-time, which may not satisfy income-focused investors. The acquisition adds integration risks, though the company plans to manage without adding personnel. The company's production growth is modest, with only 10 wells planned for the year, which may limit upside in a rising price environment. The company's reliance on legacy assets with a double-digit reserve life could face decline if new development doesn't offset natural production declines. Warning! GuruFocus has detected 3 Warning Sign with SD. Is SD fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more details on the recently announced Cherokee acquisition and its strategic fit?A: Grayson Prannen, CEO, explained that the acquisition adds 7,000 net acres and interests in 21 wells, including four operated wells, immediately offsetting their core position in Roger Mills County. The acquired operated wells have an average 30-day IP of over 2,100 BOE per day with 58% oil. This bolt-on expands their footprint with quality oil-weighted production and bolsters Cherokee inventory without adding personnel, as they plan to apply their low-cost operational expertise to integrate the assets. Q: What were the key financial highlights for the second quarter of 2026?A: Jonathan Freitas, CFO, reported revenues of just over $51 million, a 48% increase year-over-year, and adjusted EBITDA of $34 million, up 49%. Net income was approximately $27 million, or $0.72 per share, compared to $19.6 million in the same period last year. The company ended the quarter with approximately $115 million in cash, no debt, and paid $10.6 million in dividends, including a regular dividend of $0.13 per share and a special dividend of $0.20 per share. Q: Can you elaborate on the results of the step-out well testing a sub-member of the Cherokee formation?A: Dean Parish, COO, detailed that the step-out well, which tested a sub-member immediately below the Cherokee Shale, had an initial 30-day average rate of more than 10,000 MCF per day and over 100 barrels of oil per day. The 90-day average rate is approximately 11,000 MCFE per day, with cumulative production exceeding 1 billion cubic feet after 100 days. The production is exceptionally flat, and initial estimates for long-term recoveries are very promising, though they plan to be patient and gather more data before making future development decisions. Q: What is the company's capital expenditure guidance for 2026, and how is the drilling program progressing?A: Dean Parish, COO, stated that total capital spend for the quarter was $16.3 million, better than expected due to activity timing and rigorous bidding processes. The company plans to spend between $76 and $97 million for the full year, with $62 to $80 million allocated to drilling and completions. They plan to drill 10 operated Cherokee wells with one rig and complete 9 wells, with gross well costs estimated between $9 million and $11 million. The fourth well drilled was the fastest and lowest flow cost to date. Q: How is the company managing commodity price risk and hedging for the remainder of 2026?A: Jonathan Freitas, CFO, noted that production is hedged with a combination of swaps and collars representing just under 30% of the midpoint for 2026 guidance, including 37% of natural gas production and 43% of oil. These hedges secure a portion of cash flows to support the drilling program, while the company plans to maintain meaningful upside exposure throughout the year by monitoring prices for favorable hedging opportunities. Q: What were the realized commodity prices during the quarter, and how did they compare to the previous quarter?A: Jonathan Freitas, CFO, reported that the average oil price was roughly $95 per barrel, while natural gas fell to just above $3.97 per MBOE. Realized prices before hedges were $95.35 per barrel of oil, $1.36 per MCF of gas, and $21.68 per barrel of NGL. This compares to first-quarter realizations of $71.11 per barrel of oil, $3.13 per MCF of gas, and $18.64 per barrel of NGL. While oil prices rose, natural gas realizations fell significantly due to widening regional price differentials. Q: Can you provide details on the company's cost management and operational efficiency initiatives?A: Dean Parish, COO, highlighted that lease operating expenses were $10.3 million, or $5.73 per BOE, in line with expectations. The company is securing critical well components and equipment to minimize supply or inflationary pressures. They are also managing diesel fuel surcharges from service providers. Additionally, the operations team successfully recompleted a shut-in legacy well to an uphole zone with initial production rates of 1,400 MCF per day and 4 barrels of oil per day, exceeding expectations. Q: What is the company's strategy regarding shareholder returns and the dividend program?A: Grayson Prannen, CEO, reiterated the company's commitment to returning capital to stockholders. The board declared a $0.13 per share dividend payable on August 31st, and including special dividends, SandRidge has now paid $5.05 per share in dividends since the beginning of 2023. The company continues to assess paths to maximize shareholder value, including investment in strategic opportunities, advancement of the return of capital program, and other uses, while maintaining a regular quarterly dividend. Q: How does the company view its competitive position in terms of administrative costs and operational efficiency?A: Brandon Brown, CAO, stated that second-quarter adjusted G&A was $2.7 million, or $1.52 per BOE, which continues to lead among peers. The company operates with just over 100 total personnel by outsourcing perfunctory activities such as operations accounting, land administration, IT, tax, and HR, while retaining key technical skill sets with institutional knowledge. This lean structure reflects their core values of cost discipline and being fit for purpose. Q: What are the company's plans for the legacy assets and production optimization?A: Grayson Prannen, CEO, explained that the strategy includes maximizing the value of incumbent mid-continent PDP assets by extending and flattening the production profile with high-return production optimization projects. The legacy assets have a double-digit reserve life and are de-risked down to roughly $40 WTI and $2 Henry Hub for the majority of producing wells. The company continues to look for opportunities to extract additional value from legacy assets while focusing on lowering drilling and completion costs. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Shares of SandRidge Energy, Inc. SD have declined 0.8% since reporting second-quarter 2026 results compared with a 0.5% fall in the S&P 500. Over the past month, the stock has lost 2.1%, while the S&P 500 has returned 2.8%. SandRidge reported second-quarter revenues of $51.1 million, up 48% from $34.5 million a year earlier. Net income rose 36.5% to $26.7 million from $19.6 million, while basic and diluted earnings per share increased to 72 cents from 53 cents. Adjusted net income advanced 71.4% to $21 million and adjusted earnings per share climbed to 57 cents from 33 cents. The stronger top line primarily reflected new production from the operated development program and higher commodity prices. SandRidge Energy, Inc. price-consensus-eps-surprise-chart | SandRidge Energy, Inc. Quote Average production increased 11% year over year to 19.7 thousand barrels of oil-equivalent per day, with total quarterly output rising to 1.797 million Boe from 1.619 million Boe in the second quarter of 2025. Oil production grew 22% to 328,000 barrels, natural gas production increased to 5.349 billion cubic feet from 4.801 billion cubic feet, and NGL volumes rose to 577,000 barrels from 548,000 barrels. The realized price per Boe increased to $28.45 from $21.33 in the second quarter of 2025. Oil realization rose to $95.35 per barrel from $62.80, and the NGL realization improved to $21.68 from $16.10. In contrast, realized natural gas pricing fell to $1.36 per Mcf from $1.82, reflecting wider regional differentials. Adjusted EBITDA increased 49.1% to $34 million, the adjusted operating cash flow rose 35.3% to $34.6 million and the free cash flow more than doubled to $23.2 million from $9.8 million. Lease operating expenses increased to $10.3 million from $6.6 million, and to $5.73 per Boe from $4.05. The comparison was affected by a $2.1-million non-cash reduction to an operating accrual in the prior-year quarter. Production and other taxes rose to $3.2 million from $2.2 million on higher prices, volumes and revenues, while depletion increased with sales volumes and the depletion rate. General and administrative expenses grew to $3.8 million from $3 million, primarily because of higher professional fees and other costs. A $4.2-million derivative gain supported reported profit, though it was smaller than the prior-year gain of $6.1 million. CEO Grayson Pranin attributed production gains to the one-rig Cherokee program and said that the company plans to integrate the pending acquisition without adding personnel. Management highlighted more than four and a half years without a recordable safety incident and continued emphasis on low administrative costs. Operationally, two Cherokee wells came online during the quarter and two more followed in July. One core-area well achieved peak 30-day output of about 2,000 Boe per day, while a step-out well recorded an initial 30-day average exceeding 10 million cubic feet of gas and 100 barrels of oil per day. Management called the latter result promising but said that more production history is needed. SandRidge maintained plans to drill 10 operated Cherokee wells and complete nine in 2026, with one completion carrying into 2027. It expects capital spending of $76-$97 million, including $62-$80 million for drilling and completions, and $14-$17 million for workovers, production optimization and selective leasing. The company expects to fund 2026 capital expenditure and shareholder returns from operating cash flow. Hedges cover just under 30% of the midpoint of the 2026 production guidance, including 37% of natural gas and 43% of oil production. Management said that it would retain drilling-schedule flexibility as commodity prices, costs and project returns evolve. SandRidge agreed to acquire Cherokee Play producing assets and leasehold interests for $65 million, subject to adjustments, plus three potential $2-million earn-outs tied to WTI price thresholds. The cash-funded transaction, expected to close in the third quarter, adds about 7,000 net acres, interests in 21 wells and eight proved development locations. The board also declared a 13-cent-per-share dividend, payable Aug. 31, to holders of record as of Aug. 19. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SandRidge Energy, Inc. (SD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Production growth of 11% year-over-year was driven by the 1-rig operated Cherokee development program and strategic production optimization of legacy assets. Revenue increased 48% due to higher oil price realizations and volume growth, despite a meaningful decline in realized natural gas prices caused by widening regional differentials. The company maintains a peer-leading cost structure by outsourcing perfunctory administrative functions while retaining a lean, technically focused staff of approximately 100 people. Strategic optionality is anchored by a debt-free balance sheet and a 'versatile kit bag' of oil-weighted Cherokee assets and gas-weighted legacy Mid-Continent assets. Operational de-risking is supported by extensive owned infrastructure, including 1,000 miles of SWD and electrical lines, which lowers break-evens to roughly $40 WTI and $2 Henry Hub. Management attributes a record of over four and a half years without a recordable safety incident to disciplined ESG processes and a highly engaged workforce. The 2026 capital program assumes the drilling of 10 operated Cherokee wells, with one completion expected to carry over into 2027 to manage activity timing. Management plans to integrate the newly acquired Cherokee assets in Q3 without increasing headcount, applying existing low-cost operational frameworks to the new acreage. Future development may expand into 'stacked pay' opportunities if ongoing analysis confirms the Cherokee Shale and new sub-member targets are unique, independent reservoirs. Capital allocation will prioritize the regular dividend while maintaining flexibility to adjust the drilling schedule based on full-cycle returns and commodity price volatility. The company intends to utilize its approximately $1.5 billion in federal NOLs to shield future cash flows from income taxes as it pursues organic and inorganic growth. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. The June 29 Cherokee acquisition adds 7,000 net acres and 21 wells, specifically targeting high-margin, oil-weighted production that offsets current core operations. A successful recompletion of a shut-in legacy well yielded 1,400 Mcf per day, demonstrating a low-cost strategy to extract incremental value from mature assets. Supply chain risks are being mitigated by pre-securing critical well components and equipment to buffer against inflationary pressures and diesel fuel surcharges. Regional price differentials for natural gas remain a headwind, resulting in a realized gas price of $1.36 per Mcf compared to $3.13 in the prior quarter.

OKLAHOMA CITY, Aug. 5, 2026 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced financial and operational results for the three and six-month periods ended June 30, 2026. Recent Highlights On August 4, 2026, the Board declared a dividend of $0.13 per share of the Company's common stock, payable on August 31, 2026 to stockholders of record on August 19, 2026. Stockholders can elect to receive the dividends in cash or additional shares of common stock by enrolling in the Company's previously announced Dividend Reinvestment Plan As of June 30, 2026, the Company had $114.7 million of cash and cash equivalents, including restricted cash Production averaged 19.7 MBoe per day during the second quarter, an increase of 11% on a Boe basis versus the same period in 2025. Oil production increased 22% and total revenues increased 48% during the quarter versus the same period in 2025, driven primarily by new production from our operated development program and higher commodity prices In the first half of 2026, the Company successfully completed four wells as part of its ongoing one-rig Cherokee development program, with two more wells completed in July Second quarter net income of $26.7 million, or $0.72 per basic share. Adjusted net income(1) of $21.0 million or $0.57 per basic share Adjusted EBITDA(1) of $34.0 million for the three-month period ended June 30, 2026 Adjusted G&A(1) of $2.7 million, or $1.52 per Boe for the three-month period ended June 30, 2026 The Company anticipates closing its previously announced acquisition of certain producing assets and leasehold interests in the Cherokee Play in the third quarter 2026, expanding its efficient operations in the area with the addition of ~7,000 net leasehold acres, interests in 21 wells, and eight proven development locations Grayson Pranin, SandRidge's President, Chief Executive Officer & Director, commented on the quarter: "The Company increased production over the quarter and the last year, driven by the execution of our one-rig program in the Cherokee Play. In addition, we were excited to announce a meaningful acquisition in the Cherokee and the team is prepared to integrate the new assets into the ongoing program, utilizing our proven expertise in safe and efficient operations in the Mid-Continent. I'm proud that our team continues to build upon the Company's record of more than four and a half years without a recordable safety incident and will maintain a low G&A burden while integrating new assets into the portfolio." Financial Results Operational Results & Update Production, Revenue, & Realized Prices Production volumes continue to benefit from the Company's ongoing drilling program and efficient production operations. Second quarter Boe production increased by approximately 11% versus the same period in 2025 and increased by approximately 8% versus the prior quarter. Oil production increased by approximately 22% relative to the same period last year. Revenues increased by 3% in the second quarter versus the first quarter of 2026 and 48% compared to the second quarter of 2025. Realized price per Boe improved in the second quarter versus the same period last year and was slightly below the first quarter 2026 due to lower relative natural gas pricing quarter-over-quarter. Drilling & Completion Operations As of June 30, 2026, the Company completed four new operated wells as part of the its ongoing one-rig Cherokee development program, with two more wells completed in July. The Company recently achieved the lowest drilled well cost to date for the program. Operating Costs During the second quarter of 2026, lease operating expense ("LOE") was $10.3 million or $5.73 per Boe versus $10.8 million or $6.45 per Boe during the prior quarter. Lease operating expenses for the three months ended June 30, 2026 increased in total and per Boe versus the same period in 2025, primarily due to a $2.1 million one-time non-cash adjustment during the three months ended June 30, 2025 of an operating accrual dating back to the Company's emergence from bankruptcy in 2016. Liquidity & Capital Structure As of June 30, 2026, the Company had $114.7 million of cash and cash equivalents, including restricted cash of $1.3 million, deposited with multiple, well-capitalized financial institutions. The Company had no outstanding term or revolving debt obligations as of June 30, 2026. Dividend Program Dividend Declaration & Dividend Reinvestment Program ("DRIP") On August 4, 2026, the Board declared a dividend of $0.13 per share of the Company's common stock, which stockholders can elect to receive in cash or additional shares of common stock by enrolling in the previously announced Dividend Reinvestment Plan, payable on August 31, 2026 to stockholders of record on August 19, 2026. Stockholders interested in participating in the DRIP or seeking additional information may contact their broker or Equiniti Trust Company, LLC, the Plan Administrator, at (800) 278-4353 or https://equiniti.com/us/ast-access/individuals. Share Repurchases No shares were repurchased during the second quarter of 2026, but the Company maintains its ability to opportunistically repurchase shares under its 10b5-1 program. Since inception of the program, the Company has repurchased 0.6 million shares at an average price of $10.75 per share. Of the $75.0 million repurchase authorization, $68.3 million remained as of June 30, 2026. Outlook We remain committed to growing the value of our asset base in a safe, responsible and efficient manner, while prudently allocating capital to high-return, growth projects. Currently, these projects include: (1) one-rig development in the Cherokee Shale Play (2) evaluation of accretive merger and acquisition opportunities, with consideration of our strong balance sheet and commitment to our capital return program (3) production optimization program through artificial lift conversions to more efficient and cost-effective systems and (4) a leasing program that will bolster future development and extend development in our Cherokee assets. We are developing our term acreage in the Cherokee Play, and our total leasehold position, inclusive of the Cherokee, NW Stack and legacy assets, is approximately 95% held by production, which cost-effectively maintains our development option over a reasonable tenor. We will continue to monitor forward-looking commodity prices, project results, costs and other factors that could influence returns and cash flows, and will adjust our program accordingly, to include curtailment of capital activity and wells, if needed, or conversely, well reactivations in higher natural gas price environments. These and other factors, including reasonable reinvestment rates, maintaining our cash flows and prioritizing our regular-way dividend, will continue to shape our development decisions for 2026 and beyond. Environmental, Social, & Governance ("ESG") SandRidge maintains its Environmental, Social, and Governance ("ESG") commitment to harvesting the Company's resources in a safe and environmentally conscious manner, to include no routine flaring of produced natural gas, transporting approximately 90% of our produced water via pipeline instead of truck, and powering nearly all of our well sites with electricity, mitigating the need for less efficient power sources. Via a 24-hour manned operations center and dedicated personnel trained in the use of infrared leak detection and other specialized equipment, the Company continually monitors our asset base for potential emissions and continually works to optimize efficiency through initiatives such as proactive artificial lift upgrades that reduce SandRidge's electric power consumption. Additionally, SandRidge maintains an emphasis on the safety and training of our workforce with a demonstrable safety track record, including more than four and a half years without a recordable safety incident, as integral to our culture. The Company has personnel dedicated to the close monitoring of our safety standards and daily operations. Conference Call Information The Company will host a conference call to discuss these results on Thursday, August 6, 2026 at 1:00 pm CT. The conference call can be accessed by registering online in advance at https://events.q4inc.com/analyst/983833838?pwd=IQZTUt8G at which time registrants will receive dial-in information as well as a Meeting ID and Unique Passcode. At the time of the call, participants will dial in using the Meeting ID and Unique Passcode provided upon registration. The Company's latest presentation is available on its website at investors.sandridgeenergy.com. A live audio webcast of the conference call will also be available via SandRidge's website, investors.sandridgeenergy.com, under Presentation & Events. The webcast will be archived for replay on the Company's website for at least 30 days. Contact Information Investor RelationsSandRidge Energy, Inc.1 E. Sheridan Ave. Suite 500Oklahoma City, OK [email protected] About SandRidge Energy, Inc.SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas company engaged in the production, development, and acquisition of oil and gas properties. Its primary area of operation is the Mid-Continent region in Oklahoma, Texas, and Kansas. Further information can be found at sandridgeenergy.com. -Tables to Follow- Operational and Financial Statistics Information regarding the Company's production, pricing, costs and earnings is presented below (unaudited): Capital Expenditures The table below presents actual results of the Company's capital expenditures for the six months ended June 30, 2026 (unaudited): Derivatives The below details the Company's hedging positions as of August 4, 2026: Capitalization The Company's capital structure as of June 30, 2026 and December 31, 2025 is presented below: Non-GAAP Financial Measures This press release includes non-GAAP financial measures. These non-GAAP measures are not alternatives to GAAP measures, and you should not consider these non-GAAP measures in isolation or as a substitute for analysis of our results as reported under GAAP. Below is additional disclosure regarding each of the non-GAAP measures used in this press release, including reconciliations to their most directly comparable GAAP measure. Reconciliation of Net Cash Provided by Operating Activities to Adjusted Operating Cash Flow The Company defines adjusted operating cash flow as net cash provided by operating activities before changes in operating assets and liabilities as shown in the following table. Adjusted operating cash flow is a supplemental financial measure used by the Company's management and by securities analysts, investors, lenders, rating agencies and others who follow the industry as an indicator of the Company's ability to internally fund exploration and development activities or incur new debt. The Company also uses this measure because operating cash flow relates to the timing of cash receipts and disbursements that the Company may not control and may not relate to the period in which the operating activities occurred. Further, adjusted operating cash flow allows the Company to compare its operating performance and return on capital with those of other companies without regard to financing methods and capital structure. This measure should not be considered in isolation or as a substitute for net cash provided by operating activities prepared in accordance with GAAP. Reconciliation of Free Cash Flow The Company defines free cash flow as net cash provided by operating activities, plus net cash (used in) provided by investing activities less the cash flow impact of acquisitions and divestitures. Free cash flow is a supplemental financial measure used by the Company's management and by securities analysts, investors, lenders, rating agencies and others who follow the industry as an indicator of the Company's ability to internally fund exploration and development activities or incur new debt. This measure should not be considered in isolation or as a substitute for net cash provided by operating or investing activities prepared in accordance with GAAP. Reconciliation of Net Income to EBITDA and Adjusted EBITDA The Company defines EBITDA as net income before income tax (benefit) expense, interest expense, depreciation and amortization - other and depreciation and depletion - oil and natural gas. Adjusted EBITDA, as presented herein, is EBITDA excluding items that management believes affect the comparability of operating results such as items whose timing and/or amount cannot be reasonably estimated or are non-recurring, as shown in the following tables. Adjusted EBITDA is presented because management believes it provides useful additional information used by the Company's management and by securities analysts, investors, lenders, ratings agencies and others who follow the industry for analysis of the Company's financial and operating performance on a recurring basis and the Company's ability to internally fund exploration and development activities or incur new debt. In addition, management believes that adjusted EBITDA is widely used by professional research analysts and others in the valuation, comparison and investment recommendations of companies in the oil and gas industry. The Company's adjusted EBITDA may not be comparable to similarly titled measures used by other companies. Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDA Reconciliation of Net Income Available to Common Stockholders to Adjusted Net Income Available to Common Stockholders The Company defines adjusted net income as net income excluding items that management believes affect the comparability of operating results and are typically excluded from published estimates by the investment community, including items whose timing and/or amount cannot be reasonably estimated or are non-recurring, as shown in the following tables. Management uses the supplemental measure of adjusted net income as an indicator of the Company's operational trends and performance relative to other oil and natural gas companies and believes it is more comparable to earnings estimates provided by securities analysts. Adjusted net income is not a measure of financial performance under GAAP and should not be considered a substitute for net income available to common stockholders. Reconciliation of General and Administrative to Adjusted G&A The Company reports and provides guidance on Adjusted G&A per Boe because it believes this measure is commonly used by management, analysts and investors as an indicator of cost management and operating efficiency on a comparable basis from period to period and to compare and make investment recommendations of companies in the oil and gas industry. This non-GAAP measure allows for the analysis of general and administrative spend without regard to stock-based compensation programs and other non-recurring items, if any, which can vary significantly between companies. Adjusted G&A per Boe is not a measure of financial performance under GAAP and should not be considered a substitute for general and administrative expense per Boe. Therefore, the Company's Adjusted G&A per Boe may not be comparable to other companies' similarly titled measures. The Company defines adjusted G&A as general and administrative expense adjusted for certain non-cash stock-based compensation and other non-recurring items, if any, as shown in the following tables: Cautionary Note to Investors - This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are neither historical facts nor assurances of future performance and reflect SandRidge's current beliefs and expectations regarding future events and operating performance. The forward-looking statements include projections and estimates of the Company's corporate strategies, anticipated financial impacts of acquisitions, future operations, development plans and appraisal programs, drilling inventory and locations, estimated oil, natural gas and natural gas liquids production, price realizations and differentials, hedging program, projected operating, general and administrative and other costs, projected capital expenditures, tax rates, efficiency and cost reduction initiative outcomes, liquidity and capital structure and the Company's unaudited proved developed PV-10 reserve value of its Mid-Continent assets. We have based these forward-looking statements on our current expectations and assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, including the Company's ability to execute, integrate and realize the benefits of acquisitions, and the performance of the acquired interests, the volatility of oil and natural gas prices, our success in discovering, estimating, developing and replacing oil and natural gas reserves, actual decline curves and the actual effect of adding compression to natural gas wells, the availability and terms of capital, the ability of counterparties to transactions with us to meet their obligations, our timely execution of hedge transactions, credit conditions of global capital markets, changes in economic conditions, the amount and timing of future development costs, the availability and demand for alternative energy sources, regulatory changes, including those related to carbon dioxide and greenhouse gas emissions, and other factors, many of which are beyond our control. We refer you to the discussion of risk factors in Part I, Item 1A - "Risk Factors" of our Annual Report on Form 10-K and in comparable "Risk Factor" sections of our Quarterly Reports on Form 10-Q filed after such form 10-K. All of the forward-looking statements made in this press release are qualified by these cautionary statements. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on our Company or our business or operations. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, including annual guidance, except as required by law. SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas company engaged in the production, development, and acquisition of oil and gas properties. Its primary area of operation is the Mid-Continent region in Oklahoma, Texas, and Kansas. Further information can be found at sandridgeenergy.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/sandridge-energy-inc-announces-financial-and-operating-results-for-the-three-and-six-month-periods-ended-june-30--2026-and-declares-dividend-of-0-13-per-share-302844224.html

SandRidge Energy, Inc.'s (NYSE:SD) healthy profit numbers didn't contain any surprises for investors. We believe that shareholders have noticed some concerning factors beyond the statutory profit numbers. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. SandRidge Energy reported a tax benefit of US$5.5m, which is well worth noting. It's always a bit noteworthy when a company is paid by the tax man, rather than paying the tax man. Of course, prima facie it's great to receive a tax benefit. However, the devil in the detail is that these kind of benefits only impact in the year they are booked, and are often one-off in nature. Assuming the tax benefit is not repeated every year, we could see its profitability drop noticeably, all else being equal. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. As we have already discussed SandRidge Energy reported that it received a tax benefit, rather than paying tax, in the last year. As a result we don't think its profit result, which includes that tax-boost, is a good guide to its sustainable profit levels. Because of this, we think that it may be that SandRidge Energy's statutory profits are better than its underlying earnings power. But at least holders can take some solace from the 18% EPS growth in the last year. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. While conducting our analysis, we found that SandRidge Energy has 1 warning sign and it would be unwise to ignore it. This note has only looked at a single factor that sheds light on the nature of SandRidge Energy's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Shares of SandRidge Energy, Inc. SD have declined 6.8% since reporting first-quarter 2026 results against the S&P 500 index’s 2% return. Over the past month, the stock has fallen 6.7%, underperforming the S&P 500’s 8.6% rise. SandRidge reported first-quarter 2026 net income of $18.7 million, or 51 cents per basic share, compared with $13 million, or 35 cents per basic share, in the year-ago quarter. Adjusted net income rose to $21.6 million from $14.5 million a year earlier, while adjusted earnings per share increased to 59 cents from 39 cents. Total revenues climbed 17% year over year to $49.8 million, supported by stronger commodity prices and production growth from the company’s Cherokee development program. Oil production increased 31% from the prior-year quarter, while total production rose 4% to 18.6 MBoe per day. SandRidge Energy, Inc. price-consensus-eps-surprise-chart | SandRidge Energy, Inc. Quote SandRidge continued advancing its one-rig Cherokee drilling program during the quarter, successfully drilling two wells and completing three. Management noted that the third completed well had only limited production contribution during the reporting period. The company also achieved its lowest drilling costs to date for the program in April. The production mix shifted toward higher-value oil volumes, with oil accounting for 21% of the total production compared with 17% in the prior-year period. Natural gas represented 50% of production, while NGLs accounted for 29%. The increase in oil volumes contributed to oil making up 50% of the total revenues during the quarter, up from 44% a year earlier. Realized oil prices improved modestly to $71.11 per barrel from $69.88, while realized natural gas prices rose sharply to $3.13 per Mcf from $2.69. Lease operating expenses declined to $6.45 per Boe from $6.79 per Boe in the prior-year quarter, reflecting operational efficiencies and higher production volumes. Adjusted G&A expenses fell to $1.42 per Boe from $1.83 per Boe last year, underscoring management’s emphasis on cost discipline. Chief executive officer Grayson Pranin described the quarter as another strong operational period, highlighting new well contributions, continued low overhead costs and the company’s safety performance, which has now exceeded four years without a recordable safety incident. Management said the first-quarter performance benefited from higher natural gas prices early in the year and stronger oil pricing later in the quarter. However, the company also faced operational headwinds from Winter Storm Fern, which caused production deferments and affected volumes. One of SandRidge’s major gas purchasers temporarily shifted to ethane rejection, reducing NGL recovery volumes but improving natural gas revenue realization due to higher BTU content. Executives also emphasized the company’s flexibility in navigating commodity cycles due to its diversified production base, strong balance sheet and a lack of debt. SandRidge ended the quarter with $104.1 million in cash and cash equivalents, including restricted cash, and no outstanding debt obligations. SandRidge increased its ongoing quarterly dividend by 8% to 13 cents per share and declared a one-time dividend of 20 cents, both payable June 1, 2026. Since the start of 2023, the company has paid out $5.05 per share in combined regular and special dividends, according to management. Management reiterated plans to continue a one-rig Cherokee development program during 2026. The company expects to drill 10 operated Cherokee wells and complete eight this year, with two completions carrying into 2027. Total 2026 capital spending is projected between $76 million and $97 million, including $62-$80 million for drilling and completion activities. SandRidge also said it will continue evaluating merger and acquisition opportunities while maintaining financial discipline and prioritizing shareholder returns. The company indicated that future capital allocation decisions will depend on commodity prices, reinvestment rates and cash flow preservation. The company did not complete any share repurchases in the first quarter but retained $68.3 million remaining under its existing repurchase authorization. SandRidge also continued emphasizing ESG initiatives, including avoiding routine natural gas flaring, transporting more than 90% of produced water through pipelines rather than trucks, and powering nearly all well sites with electricity. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SandRidge Energy, Inc. (SD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Image source: The Motley Fool. May 7, 2026, 2 p.m. ET Chief Executive Officer — Grayson R. Pranin Chairman of the Board — Jonathan Frates Senior Vice President of Operations — Dean Parrish Chief Financial Officer — Brandon L. Brown Need a quote from a Motley Fool analyst? Email [email protected] Grayson R. Pranin: Thank you, and good afternoon. I am pleased to report on a strong quarter for the company. Production averaged 18.6 MBOE per day during the first quarter, an increase of 4% on a BOE basis versus the same period in 2025. Oil production increased 31%, and total revenues increased 17% during the quarter versus the same period in 2025, driven primarily by new production from our operated development program. Before getting into this and other highlights, I will turn things over to Jonathan for details on financial results. Jonathan Frates: Compared to 2025, the company saw increases in the market price of both oil and natural gas. We grew production by 4% year-over-year and generated revenues of approximately $50 million, which represents an increase of 26% compared to last quarter and 17% compared to the same period last year. Adjusted EBITDA was $33.7 million in the quarter compared to $25.5 million in 2025. We continue to manage the business with a focus on maximizing long-term cash flow while growing production and utilizing our NOLs to shield us from federal income taxes. At the end of the quarter, cash, including restricted cash, was approximately $104 million, which represents over $2.80 per common share outstanding. Cash was down compared to the prior quarter due to an increase in noncash working capital, primarily related to the timing of payables versus receivables from our one-rig drilling program. Working capital, as represented by current assets less current liabilities, was up by $3.7 million compared to the prior quarter. The company paid $4.4 million in dividends during the quarter, which includes $600 thousand of dividends to be paid in shares under our dividend reinvestment plan. On May 5, 2026, the Board of Directors increased the regular-way dividend by 8%, declaring a $0.13 dividend as well as a one-time special dividend of $0.20 per share, both of which are payable on June 1 to shareholders of record on May 20, 2026. Shareholders may elect to receive cash or additional shares of common stock through the company's dividend reinvestment plan. Following these dividends, SandRidge Energy, Inc. will have paid $5.05 per share in regular and special dividends since the beginning of 2023. Commodity price realizations for the quarter before considering the impact of hedges were $71.11 per barrel of oil, $3.13 per Mcf of gas, and $18.64 per barrel of NGLs. This compares to fourth quarter 2025 realizations of $57.56 per barrel of oil, $2.20 per Mcf of gas, and $14.92 per barrel of NGLs. Our commitment to cost discipline continues to yield results, with adjusted G&A for the quarter of approximately $2.4 million or $1.42 per BOE compared to $2.9 million or $1.83 per BOE in 2025. Net income was $18.7 million for the quarter, or $0.50 per diluted share. Adjusted net income was $21.6 million, or $0.58 per diluted share. This compares to $13 million, or $0.35 per diluted share, and $14.5 million, or $0.39 per diluted share, respectively, during the same period last year. The company generated cash flow from operations of $19.8 million during the quarter compared to $20.3 million during the same period last year. Adjusted operating cash flow was $34.4 million during the quarter compared to $26.3 million in the same period of 2025. Lastly, production is hedged with a combination of swaps and collars representing just under 30% of the midpoint of our 2026 guidance. This includes approximately 37% of natural gas production and 43% of oil. These hedges will help secure a portion of our cash flows and support our drilling program through the year. We continue to monitor prices and take advantage of favorable opportunities, but plan to maintain meaningful upside throughout the remainder of the year. Before shifting to our outlook, you should note that our earnings release and 10-Q will provide further details on our financial and operational performance during the quarter. Now I will turn it over to Dean for an update on operations. Dean Parrish: Thank you, Jonathan. Let us start with a review of the first quarter and discuss recent drilling and completion results. Total capital spend for the quarter, excluding A&D, was $19.9 million, which is better than expectations for the quarter, mostly due to drill schedule adjustments. A rigorous bidding process focused on driving drilling and completion costs down in the Cherokee play and longer artificial lift run times from previous years of improvements kept us on budget. Additionally, we have been securing critical well components needed for the remainder of the year to minimize any supply or inflationary pressures that may affect our capital program. Lease operating expenses for the quarter were $10.8 million, or $6.45 per BOE, which falls right in line with expectations. We are also securing the needed equipment and services that will be critical for production operations in 2026, similar to the capital program. We expect to continue to see pressure on diesel fuel through fuel surcharges passed on through service providers that have strict internal protocol to reduce surcharges when diesel prices begin to decrease. During the quarter, the company successfully completed three wells and brought two wells online from our operated one-rig Parakeet drilling program. We recently brought online the ninth well in our program and are drilling the eleventh, while the tenth well awaits final completion. Our operations team continues to execute, with the tenth well that was just drilled being the fastest, lowest cost to date, driven by the team's focus and ingenuity to reduce costs. It is early, but we are seeing some incremental efficiencies on our eleventh well drilling now, and we will have more to share next quarter. Moving to our 2026 capital program, we plan to drill 10 operated Cherokee wells with one rig this year and complete eight wells. The remaining two completions are anticipated to carry over to next year. A majority of the remaining wells in our development program this year directly offset proven or in-progress wells in the area, and we continue to monitor offsetting results. Gross well costs vary by depth but are estimated to be between approximately $9 million and $11 million. We intend to spend between $76 million and $97 million in our 2026 capital program, which is made up of $62 million to $80 million in drilling and completions activity, and between $14 million and $17 million in capital workovers, production optimization, and selective leasing in the Cherokee play. Our high-graded leasing is focused on further bolstering our interest, consolidating our position, and extending development into future years. With that, I will turn things back over to Grayson. Grayson R. Pranin: Thank you, Dean. Let us start with commodity prices. We started the year with strong natural gas prices, which benefited January and February revenues. During this period, our largest natural gas purchaser elected to move to ethane rejection. This means that more ethane is sold as natural gas and less is separated as NGLs. This typically results in fewer barrels of equivalent in volume, which impacted both our NGL and overall BOE volumes for the quarter, but it benefited natural gas volumes and revenue as the gas was sold at relatively higher prices with an increased BTU factor. This had a positive effect on revenue due to the dynamics of high natural gas and lower relative ethane prices during the period. However, natural gas prices have since declined and, with it, the spread between natural gas prices and ethane. Our largest natural gas purchaser returned to ethane recovery in March and plans to maintain recovery until there is further benefit otherwise. Also, while natural gas prices increased during January, we did experience increased production deferment during Winter Storm Fern, which negatively impacted volumes. Despite this challenge, our team did an amazing job operating through the extreme cold weather and minimizing downtime as much as possible—and, most importantly, doing so safely. Now shifting to oil, the year began with oil prices in the mid- to upper-$50 range, which changed dramatically over the quarter. Despite seeing spot rates reach up to triple-digit levels recently, WTI averaged $72.74 per barrel in Q1 because the shift occurred in late February and early March. For the same reason, the increase in WTI prices only partially benefited our revenues during the quarter, as the entire oil price increase occurred in the back half of the quarter. Thus far, oil prices have remained high in the second quarter and could benefit revenues further. Our commodity prices are driven by market dynamics outside of our control. We have used our favorable position and came into the year with minimal hedges to take advantage of the increases year-to-date, the details of which can be found in our earnings release and 10-Q to be filed later today. Combined with our prior hedges, we have hedged a meaningful portion of our PDP volumes for the remainder of the year, which allows us to secure a portion of our cash flows at prices that are materially above where we started the year and where we budget. The remainder of our PDP oil volumes and all of the volumes from our current drilling program will participate at the market with exposure to current high prices. We have endeavored to balance securing cash flows while maintaining an appropriate level of exposure to commodity upside. That said, there has been a lot of volatility in WTI pricing over the last few weeks and much speculation over futures, with the forward curve remaining in steep backwardation. We are content with the current level of hedging this year. We will continue to monitor geopolitical events and future pricing for further adjustment, with specific focus on longer-term periods. Now let us pivot over to our development program. As Dean discussed, we had first production on two wells this past quarter. One well targeted the Cherokee shale in our core area, consistent with wells last year. These wells had an average peak 30-day of approximately 2 thousand BOE per day, made up of 45% oil, including the newest seventh well. The other well turned in line this quarter and tested the Red Fork formation, a sandstone in the Lower Cherokee group. This was an initial well in a new area for us that offset and delineated a very productive well drilled by a reputable operator. This well allows us to better establish performance expectations in a new target in a new area. The leasing costs have been very attractive. Currently, we do not have any Red Fork wells planned for the rest of the year. However, we plan to monitor the performance of this well, industry and offsetting activity—which has increased over the past year—as well as commodity prices and other factors while evaluating the go-forward plan in the new area. Given the tailwind of WTI prices and the enhancement to returns, we plan to continue our Cherokee development with one rig and further grow oily production. While the program is attractive in a range of commodity environments, our team will continue to be diligent by prioritizing full-cycle returns, monitoring reasonable reinvestment rates, and, when needed, exercising drill schedule flexibility to make prudent adjustments to our development plans in different economic environments. Also, we do not have any significant near-term leasehold expirations and have the flexibility to defer these projects if needed for a period of time. I am very pleased with our team for their continued focus on safety, execution, and cost focus in development and production optimization programs. They have truly championed safety, resulting in the continuation of a record of more than four years without a recordable safety incident. In addition, they continue to operate at a high level with a lean, but very engaged and experienced staff with peer-leading operating and administrative cost efficiencies. I would like to pause here to highlight the optionality we have across our asset base. Coupled with the strength of our balance sheet, it sets us up to leverage commodity price cycles. The combination of our oil-weighted Cherokee and gas-weighted legacy assets, as well as a robust net cash position, gives us multifaceted options to maneuver and take advantage of different commodity cycles. Put simply, we have a strong balance sheet and a versatile kit bag, which makes the company more resilient and better poised to maneuver and adjust, no matter the commodity environment. I will now revisit the company's advantages. Our asset base is focused in the Mid-Continent region with a PDP well set that provides meaningful cash flow, which does not require any routine flaring of produced gas. These well-understood assets are almost fully held by production, have a long history, a shallowing and diversified production profile, and double-digit reserve life. Our incumbent assets include more than a thousand miles each of owned and operated SWD and electric infrastructure over our footprint. This substantial owned and integrated infrastructure helps de-risk individual well profitability for the majority of our legacy producing wells under roughly $40 WTI and $2 Henry Hub. Our assets continue to yield free cash flow. This cash generation potential provides several paths to increase shareholder value realization and is benefited by a low G&A burden. SandRidge Energy, Inc.'s value proposition is materially de-risked from a financial perspective by our strengthened balance sheet, including negative net leverage, financial flexibility, and advantaged tax position. Further, the company is not subject to MVCs or other off-balance-sheet financial commitments. We have bolstered our inventory to provide further organic growth opportunities and incremental oil diversification, with low breakevens in high-graded areas. Finally, it is worth highlighting that we take our ESG commitment seriously and have implemented disciplined processes around them. Not only do we continue to operate our existing assets extremely efficiently and execute on our Cherokee development in an effective manner, but we do so safely. Shifting to strategy, we remain committed to growing the value of our business in a safe, responsible, efficient manner while prudently allocating capital to high-return growth projects. We will also evaluate merger and acquisition opportunities while maintaining financial discipline, consideration of our balance sheet, and commitment to our capital return program. This strategy has five points. One, maximize the value of our incumbent Mid-Con PDP assets by extending and flattening our production profile with high rate-of-return production optimization projects, as well as continuously pressing on operating and administrative costs. Two, exercise capital stewardship and invest in projects and opportunities that have high risk-adjusted, fully burdened rates of return while prudently targeting reasonable reinvestment rates that sustain our cash flows and prioritize a regular-way dividend. Three, maintain optionality to execute on value-accretive merger and acquisition opportunities that could bring synergies, leverage the company's core competencies, complement its portfolio of assets, whether it utilizes approximately $1.5 billion of federal net operating losses or otherwise yields attractive returns to its shareholders. Four, as we generate cash, we will continue to work with our board to assess paths to maximize shareholder value to include investment and strategic opportunities, advancement of our return-of-capital program, and other uses. To this end, the board continues to focus on the company's return of capital to stockholders as a priority in capital allocation, and as a result, expanded its ongoing dividend program by 8% and declared a one-time dividend. The final staple is to uphold our ESG responsibility. Now, shifting to administrative expenses, I will turn things over to Brandon. Brandon L. Brown: Thank you, Grayson. As we close out our prepared remarks, I will point out our first quarter adjusted G&A of $2.4 million, or $1.42 per BOE, continues to lead among our peers. The consistent efficiency of our organization reflects our core values to remain cost disciplined and to be fit for purpose. We will maintain our efficient and low-cost operation mindset and continue to balance the weighting of field versus corporate personnel to reflect where we create the most value. The outsourcing of necessary but more perfunctory functions such as operations accounting, land administration, IT, tax, and HR has allowed us to operate with total personnel of just over 100 people for the past several years while retaining key technical skill sets that have both the experience and institutional knowledge for our business. In summary, at the end of the first quarter, the company had approximately $104 million in cash and cash equivalents, which represents over $2.80 per share of our common stock outstanding; an inventory of high rate-of-return, low breakeven projects; low overhead; top-tier adjusted G&A; no debt; negative leverage; a flattening production profile; double-digit reserve life; and approximately $1.5 billion of federal NOLs. This concludes our prepared remarks. Thank you for joining us today. We will now open the call for questions. Operator: We will now begin the question-and-answer session. If you would like to ask a question, please press star 1 on your telephone keypad. To withdraw your question, press star 1 again. Please pick up your handset when asking a question. If you are muted locally, please remember to unmute your device. Please stand by while we compile the Q&A roster. If you would like to ask a question, please press star 1 on your telephone keypad. To withdraw your question, press star 1 again. Please pick up your handset when asking a question. If you are muted locally, please remember to unmute your device. This concludes today's call. Thank you for attending. You may now disconnect. Before you buy stock in SandRidge Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SandRidge Energy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $476,034!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,274,109!* Now, it’s worth noting Stock Advisor’s total average return is 974% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of May 7, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. SandRidge (SD) Q1 2026 Earnings Call Transcript was originally published by The Motley Fool

OKLAHOMA CITY, May 6, 2026 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced financial and operational results for the three-month period ended March 31, 2026. Recent Highlights On May 5, 2026, the Board increased its on-going quarterly dividend program by 8% to $0.13 per share. In addition, the Board declared a one-time dividend of $0.20 per share. Both dividends are payable on June 1, 2026 to stockholders of record on May 20, 2026. Stockholders can elect to receive the dividends in cash or additional shares of common stock by enrolling in the Company's previously announced Dividend Reinvestment Plan As of March 31, 2026, the Company had $104.1 million of cash and cash equivalents, including restricted cash Production averaged 18.6 MBoe per day during the first quarter, an increase of 4% on a Boe basis versus the same period in 2025. Oil production increased 31% and total revenues increased 17% during the quarter versus the same period in 2025, driven primarily by new production from our operated development program During the quarter, the Company successfully drilled two and completed three wells as part of its ongoing one-rig Cherokee development program. In April, the third well drilled in 2026 achieved the lowest cost to date for the program First quarter net income of $18.7 million, or $0.51 per basic share. Adjusted net income(1) of $21.6 million or $0.59 per basic share Adjusted EBITDA(1) of $33.7 million for the three-month period ended March 31, 2026 Adjusted G&A(1) of $2.4 million, or $1.42 per Boe for the three-month period ended March 31, 2026 Grayson Pranin, SandRidge's President, Chief Executive Officer & Director, commented on the quarter: "The SandRidge team delivered another strong quarter, to include bringing on two new operated wells which benefited oil production during the period. I'm proud of our team that continues to execute, while maintaining a low G&A burden, and more importantly, continues to build upon the Company's record of more than four years without a recordable safety incident." Oil production for the first quarter benefited from three new wells during the period, which contributed to increases of approximately 31% and 7% relative to the same period last year and the prior quarter, respectively. First quarter Boe production increased by approximately 4% versus the same period in 2025 and decreased by approximately 7% versus the prior quarter. Boe production for the first quarter was impacted by a decrease in NGL recovery, largely due to gas plants electing to recover less ethane from the NGL streams and increased production deferment from Winter Storm Fern, driving a reduction in total Boe production quarter-over-quarter. Revenues and average realized prices per Boe improved in the first quarter of 2026 versus the first and fourth quarters of 2025. Drilling & Completion Operations Two wells were successfully drilled and three wells were completed as part of the Company's ongoing one-rig Cherokee development program during the first quarter. The third completed well had limited contributions to overall production during the period. In April, the Company achieved the lowest drilled well cost to date for the program. Operating Costs During the first quarter of 2026, lease operating expense ("LOE") was $10.8 million or $6.45 per Boe. Lease operating expenses for the three months ended March 31, 2026 decreased in total and per Boe versus the same period in 2025, primarily driven by continued efficient operations and an increase in production volumes due to our ongoing drilling program in the Cherokee Play. Liquidity & Capital Structure As of March 31, 2026, the Company had $104.1 million of cash and cash equivalents, including restricted cash of $1.3 million, deposited with multiple, well-capitalized financial institutions. The Company had no outstanding term or revolving debt obligations as of March 31, 2026. Dividend Program Dividend Declaration & Dividend Reinvestment Program ("DRIP") On May 5, 2026, the Board increased its on-going quarterly dividend program by 8% to $0.13 per share. In addition, the Board declared a one-time dividend of $0.20 per share. Both dividends are payable on June 1, 2026 to stockholders of record on May 20, 2026. Stockholders can elect to receive the dividends in cash or additional shares of common stock by enrolling in the Company's previously announced Dividend Reinvestment Plan. The Board continues to focus on the Company's return of capital to stockholders and, as a result, has expanded its on-going dividend program by 8% and declared a one-time dividend. Stockholders interested in participating in the DRIP or seeking additional information may contact their broker or Equiniti Trust Company, LLC, the Plan Administrator, at (800) 278-4353 or https://equiniti.com/us/ast-access/individuals. Share Repurchases No shares were repurchased during the first quarter of 2026, but the Company maintains its ability to opportunistically repurchase shares under its 10b5-1 program. Since inception of the program, the Company has repurchased 0.6 million shares at an average price of $10.75 per share. Of the $75.0 million repurchase authorization, $68.3 million remained as of March 31, 2026. Outlook We remain committed to growing the value of our asset base in a safe, responsible and efficient manner, while prudently allocating capital to high-return, growth projects. Currently, these projects include: (1) one-rig development in the Cherokee Shale Play (2) evaluation of accretive merger and acquisition opportunities, with consideration of our strong balance sheet and commitment to our capital return program (3) production optimization program through artificial lift conversions to more efficient and cost-effective systems and (4) a leasing program that will bolster future development and extend development in our Cherokee assets. We are developing our term acreage in the Cherokee Play, and our total leasehold position, inclusive of the Cherokee, NW Stack and legacy assets, is approximately 95% held by production, which cost-effectively maintains our development option over a reasonable tenor. We will continue to monitor forward-looking commodity prices, project results, costs and other factors that could influence returns and cash flows, and will adjust our program accordingly, to include curtailment of capital activity and wells, if needed, or conversely, well reactivations in higher natural gas price environments. These and other factors, including reasonable reinvestment rates, maintaining our cash flows and prioritizing our regular-way dividend, will continue to shape our development decisions for 2026 and beyond. Environmental, Social, & Governance ("ESG") SandRidge maintains its Environmental, Social, and Governance ("ESG") commitment to harvesting the Company's resources in a safe and environmentally conscious manner, to include no routine flaring of produced natural gas, transporting more than 90% of our produced water via pipeline instead of truck, and powering nearly all of our well sites with electricity, mitigating the need for less efficient power sources. Via a 24-hour manned operations center and dedicated personnel trained in the use of infrared leak detection and other specialized equipment, the Company continually monitors our asset base for potential emissions and continually works to optimize efficiency through initiatives such as proactive artificial lift upgrades that reduce SandRidge's electric power consumption. Additionally, SandRidge maintains an emphasis on the safety and training of our workforce with a demonstrable safety track record, including more than four years without a recordable safety incident, as integral to our culture. The Company has personnel dedicated to the close monitoring of our safety standards and daily operations. Conference Call Information The Company will host a conference call to discuss these results on Thursday, May 7, 2026 at 1:00 pm CT. The conference call can be accessed by registering online in advance at https://events.q4inc.com/analyst/747184225?pwd=pv6DLHLJ at which time registrants will receive dial-in information as well as a Meeting ID and Unique Passcode. At the time of the call, participants will dial in using the Meeting ID and Unique Passcode provided upon registration. The Company's latest presentation is available on its website at investors.sandridgeenergy.com. A live audio webcast of the conference call will also be available via SandRidge's website, investors.sandridgeenergy.com, under Presentation & Events. The webcast will be archived for replay on the Company's website for at least 30 days. Contact Information Investor Relations SandRidge Energy, Inc. 1 E. Sheridan Ave. Suite 500 Oklahoma City, OK 73104 [email protected] About SandRidge Energy, Inc. SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas company engaged in the production, development, and acquisition of oil and gas properties. Its primary area of operation is the Mid-Continent region in Oklahoma, Texas, and Kansas. Further information can be found at sandridgeenergy.com. -Tables to Follow- Operational and Financial Statistics Information regarding the Company's production, pricing, costs and earnings is presented below (unaudited): Capital Expenditures The table below presents actual results of the Company's capital expenditures for the three months ended March 31, 2026 (unaudited): Derivatives The below details the Company's hedging positions as of May 4, 2026: Capitalization The Company's capital structure as of March 31, 2026 and December 31, 2025 is presented below: Non-GAAP Financial Measures This press release includes non-GAAP financial measures. These non-GAAP measures are not alternatives to GAAP measures, and you should not consider these non-GAAP measures in isolation or as a substitute for analysis of our results as reported under GAAP. Below is additional disclosure regarding each of the non-GAAP measures used in this press release, including reconciliations to their most directly comparable GAAP measure. Reconciliation of Net Cash Provided by Operating Activities to Adjusted Operating Cash Flow The Company defines adjusted operating cash flow as net cash provided by operating activities before changes in operating assets and liabilities as shown in the following table. Adjusted operating cash flow is a supplemental financial measure used by the Company's management and by securities analysts, investors, lenders, rating agencies and others who follow the industry as an indicator of the Company's ability to internally fund exploration and development activities or incur new debt. The Company also uses this measure because operating cash flow relates to the timing of cash receipts and disbursements that the Company may not control and may not relate to the period in which the operating activities occurred. Further, adjusted operating cash flow allows the Company to compare its operating performance and return on capital with those of other companies without regard to financing methods and capital structure. This measure should not be considered in isolation or as a substitute for net cash provided by operating activities prepared in accordance with GAAP. Reconciliation of Free Cash Flow The Company defines free cash flow as net cash provided by operating activities, plus net cash (used in) provided by investing activities less the cash flow impact of acquisitions and divestitures. Free cash flow is a supplemental financial measure used by the Company's management and by securities analysts, investors, lenders, rating agencies and others who follow the industry as an indicator of the Company's ability to internally fund exploration and development activities or incur new debt. This measure should not be considered in isolation or as a substitute for net cash provided by operating or investing activities prepared in accordance with GAAP. Reconciliation of Net Income to EBITDA and Adjusted EBITDA The Company defines EBITDA as net income before income tax (benefit) expense, interest expense, depreciation and amortization - other and depreciation and depletion - oil and natural gas. Adjusted EBITDA, as presented herein, is EBITDA excluding items that management believes affect the comparability of operating results such as items whose timing and/or amount cannot be reasonably estimated or are non-recurring, as shown in the following tables. Adjusted EBITDA is presented because management believes it provides useful additional information used by the Company's management and by securities analysts, investors, lenders, ratings agencies and others who follow the industry for analysis of the Company's financial and operating performance on a recurring basis and the Company's ability to internally fund exploration and development activities or incur new debt. In addition, management believes that adjusted EBITDA is widely used by professional research analysts and others in the valuation, comparison and investment recommendations of companies in the oil and gas industry. The Company's adjusted EBITDA may not be comparable to similarly titled measures used by other companies. Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDA Reconciliation of Net Income Available to Common Stockholders to Adjusted Net Income Available to Common Stockholders The Company defines adjusted net income as net income excluding items that management believes affect the comparability of operating results and are typically excluded from published estimates by the investment community, including items whose timing and/or amount cannot be reasonably estimated or are non-recurring, as shown in the following tables. Management uses the supplemental measure of adjusted net income as an indicator of the Company's operational trends and performance relative to other oil and natural gas companies and believes it is more comparable to earnings estimates provided by securities analysts. Adjusted net income is not a measure of financial performance under GAAP and should not be considered a substitute for net income available to common stockholders. Reconciliation of General and Administrative to Adjusted G&A The Company reports and provides guidance on Adjusted G&A per Boe because it believes this measure is commonly used by management, analysts and investors as an indicator of cost management and operating efficiency on a comparable basis from period to period and to compare and make investment recommendations of companies in the oil and gas industry. This non-GAAP measure allows for the analysis of general and administrative spend without regard to stock-based compensation programs and other non-recurring items, if any, which can vary significantly between companies. Adjusted G&A per Boe is not a measure of financial performance under GAAP and should not be considered a substitute for general and administrative expense per Boe. Therefore, the Company's Adjusted G&A per Boe may not be comparable to other companies' similarly titled measures. The Company defines adjusted G&A as general and administrative expense adjusted for certain non-cash stock-based compensation and other non-recurring items, if any, as shown in the following tables: Cautionary Note to Investors - This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are neither historical facts nor assurances of future performance and reflect SandRidge's current beliefs and expectations regarding future events and operating performance. The forward-looking statements include projections and estimates of the Company's corporate strategies, anticipated financial impacts of acquisitions, future operations, development plans and appraisal programs, drilling inventory and locations, estimated oil, natural gas and natural gas liquids production, price realizations and differentials, hedging program, projected operating, general and administrative and other costs, projected capital expenditures, tax rates, efficiency and cost reduction initiative outcomes, liquidity and capital structure and the Company's unaudited proved developed PV-10 reserve value of its Mid-Continent assets. We have based these forward-looking statements on our current expectations and assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, including the Company's ability to execute, integrate and realize the benefits of acquisitions, and the performance of the acquired interests, the volatility of oil and natural gas prices, our success in discovering, estimating, developing and replacing oil and natural gas reserves, actual decline curves and the actual effect of adding compression to natural gas wells, the availability and terms of capital, the ability of counterparties to transactions with us to meet their obligations, our timely execution of hedge transactions, credit conditions of global capital markets, changes in economic conditions, the amount and timing of future development costs, the availability and demand for alternative energy sources, regulatory changes, including those related to carbon dioxide and greenhouse gas emissions, and other factors, many of which are beyond our control. We refer you to the discussion of risk factors in Part I, Item 1A - "Risk Factors" of our Annual Report on Form 10-K and in comparable "Risk Factor" sections of our Quarterly Reports on Form 10-Q filed after such form 10-K. All of the forward-looking statements made in this press release are qualified by these cautionary statements. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on our Company or our business or operations. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, including annual guidance, except as required by law. SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas company engaged in the production, development, and acquisition of oil and gas properties. Its primary area of operation is the Mid-Continent region in Oklahoma, Texas, and Kansas. Further information can be found at sandridgeenergy.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/sandridge-energy-inc-announces-financial-and-operating-results-for-the-three-month-period-ended-march-31--2026--an-8-increase-to-its-on-going-quarterly-dividend-to-0-13-per-share-and-a-one-time-dividend-of-0-20-per-share-302764669.html

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Production growth of 4% year-over-year was primarily driven by the company's operated development program, which fueled a 31% increase in oil production. Revenue benefited from a strategic shift to ethane rejection by a major purchaser in early Q1, allowing the company to sell more ethane as natural gas at higher relative prices and BTU factors. Management attributes its peer-leading G&A efficiency to a 'fit for purpose' model that outsources perfunctory functions like IT and HR while retaining core technical expertise. The company's extensive owned infrastructure, including 1,000 miles of SWD and electric lines, de-risks legacy well profitability at prices as low as $40 WTI and $2 Henry Hub. Operational execution in the Cherokee play reached a new milestone with the tenth well in the program being the fastest and lowest-cost to date due to team-driven technical efficiencies. Strategic positioning is anchored by a 'negative net leverage' balance sheet and approximately $1.5 billion in federal NOLs, which shield the company from federal income taxes. The 2026 capital program assumes a one-rig Cherokee development plan to drill 10 wells and complete eight, with two completions carrying over into the following year. Management plans to monitor the performance of a newly tested Red Fork formation well before committing to further development in that specific target area. Capital allocation will prioritize a regular-way dividend, with the board recently increasing the payout by 8% alongside a one-time special dividend of $0.20 per share. The company is maintaining a meaningful portion of production unhedged to participate in current high market prices while securing cash flows for the drilling program through swaps and collars. Future M&A strategy focuses on value-accretive opportunities that can leverage the company's significant NOL position or provide operational synergies in the Mid-Continent. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Winter Storm Fern caused increased production deferment in January, though management noted the impact was mitigated by field team response. The company expects continued inflationary pressure on diesel fuel through surcharges, though service providers have protocols to reduce these if prices decline. A temporary decrease in cash was attributed to an increase in noncash working capital related to the timing of payables versus receivables from the one-rig drilling program. Management highlighted a record of over four years without a recordable safety incident as a core component of their ESG and operational stability.