SandRidge EnergyNYSE: SD

Lower production volumes and reduced realized prices for natural gas hurt SandRidge Energy's (SD) earnings in Q2.

OKLAHOMA CITY--(BUSINESS WIRE)-- #ClassActionSettlement--Federman & Sherwood Announces Preliminary Approval of Settlement in Sandridge Energy, Inc. Class Action.

OKLAHOMA CITY , March 4, 2024 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced plans to release fourth quarter and full year 2023 operational and financial results after the close of trading on Wednesday, March 6, 2024. SandRidge will host a conference call on Thursday, March 7, 2024 at 10:00 a.m.

SandRidge Energy, Inc. (NYSE:SD ) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET Company Participants Scott Prestridge - Vice President-Finance & Treasury Grayson Pranin - Chief Executive Officer & Chief Operating Officer Salah Gamoudi - Chief Financial Officer & Chief Accounting Officer Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today.

SandRidge Energy has increased its working interest in 26 wells in the Northwest Stack play, producing a net 500 boe/d with 30% oil. The purchase price was $11.25m. The acquisition is expected to add around $4.4m to SandRidge's FY 2023 free cash flow. The deal is likely to achieve payback in under two years. The deal marks a potential start to a series of small, highly accretive deals by SandRidge, demonstrating improved capital allocation and alleviating previous investor concerns.

SandRidge Energy, Inc. paid out a $2 per share special dividend and also instituted a $0.10 per share quarterly dividend. It also announced a $75 million share repurchase program. SandRidge should still end 2023 with over $7 per share in cash, before the impact of any share repurchases.

SandRidge had another great quarter. A huge cash balance should be returned to shareholders.

SandRidge generated $30.4 million free cash flow in Q1 2023. It benefited from derivative settlements and working capital changes, while interest income added $2.5 million for the quarter.