SD - SandRidge Energy Non-GAAP EPS of $0.38 revenue of $33.42M

2023-08-02 17:22:55 ET

• SandRidge Energy press release ( NYSE: SD ): Q2 Non-GAAP EPS of $0.38.
• Revenue of $33.42M (-52.1% Y/Y).
• Adjusted EBITDA ⁽¹⁾ of $20.0 million in the second quarter.
• On May 12, 2023, the Company announced a one-time cash dividend of $2.00 per share that was paid on June 7, 2023.
• Outlook: 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. These near-term projects will be focused on artificial lift conversions to more efficient and cost-effective systems, other capital-efficient workovers, and limited well reactivations, while preserving future development, and expanded well reactivations, benefited by our 99% held by production acreage position that extends the option value to initiate projects in favorable commodity price environments, to achieve high rates of return. The Company will continue to monitor forward-looking commodity prices, results, costs and other factors that could influence returns on investments, which will continue to shape its disciplined development decisions in 2023 and beyond.

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