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Mar 31, 2024
SandRidge Q1 2024 Earnings Report
Announced financial and operational results for the three-month period ended March 31, 2024.
Key Takeaways
SandRidge Energy reported a net income of $11.1 million, or $0.30 per basic share, and generated $14.5 million of free cash flow for the first quarter of 2024. The company's adjusted EBITDA was $14.7 million, and it declared a $0.11 per share cash dividend.
Declared a $0.11 per share cash dividend payable on May 31, 2024.
First quarter net income was $11.1 million, or $0.30 per basic share; adjusted net income was $8.4 million, or $0.23 per basic share.
Adjusted EBITDA of $14.7 million for the three-month period ended March 31, 2024.
Generated $14.5 million of free cash flow for the three-month period ended March 31, 2024, representing a 99% conversion rate relative to adjusted EBITDA.
SandRidge
SandRidge
SandRidge Revenue by Segment
Revenue by Segment
Oil Revenue
CapyFin.comNatural Gas Revenue
CapyFin.comNGL Revenue
CapyFin.com Forward Guidance
SandRidge will continue to focus on growing the cash value and generation capability of its asset base in a safe, responsible and efficient manner, while exercising prudent capital allocations to projects it believes provide high rates of returns in the current commodity price outlook.
Positive Outlook
- Focus on artificial lift conversions to more efficient and cost-effective systems.
- Capital-efficient workovers.
- Preserving future development and expanded well reactivations.
- 99% held by production acreage position that extends the option value to initiate projects in favorable commodity price environments.
- Optionality to execute on value accretive merger and acquisition opportunities.
Challenges Ahead
- Monitoring forward-looking commodity prices.
- Monitoring results.
- Monitoring costs.
- Monitoring other factors that could influence returns on investments.
- Disciplined development decisions in 2024 and beyond.
Revenue & Expenses
Visualization of income flow from segment revenue to net income