Sandridge Energy ( (SD) ) has released its Q4 earnings. Here is a breakdown of the information Sandridge Energy presented to its investors.
SandRidge Energy, Inc. is an independent oil and gas company focused on the production, development, and acquisition of oil and gas properties, primarily operating in the Mid-Continent region of the United States, including Oklahoma, Texas, and Kansas.
In its latest earnings report, SandRidge Energy announced a cash dividend of $0.11 per share and provided guidance for 2025. The company reported a net income of $63.0 million for the year 2024, with an adjusted EBITDA of $69.5 million. Additionally, the company highlighted its successful operations in the Cherokee play, including the completion of its first operated wells and a strategic acquisition to increase its ownership in the region.
Key financial metrics from the report include a 19% increase in production, averaging 19.1 MBoe per day in the fourth quarter, and a 28% rise in oil production compared to the previous year. The company maintained a strong cash position with $99.5 million in cash and equivalents and no outstanding debt. SandRidge also achieved a record of over three years without a recordable safety incident, underscoring its commitment to operational safety.
Looking ahead, SandRidge Energy plans to continue its development in the Cherokee Shale Play with a one-rig plan for 2025, aiming to drill eight and complete six new wells. The company remains focused on optimizing production and exploring further merger and acquisition opportunities, supported by its robust balance sheet and commitment to shareholder returns through dividends.
SandRidge Energy’s management remains committed to enhancing asset value through safe and efficient operations while adapting to market conditions and prioritizing capital allocation to high-return projects.