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SANDRIDGE ENERGY, INC. ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2025 AND DECLARES $0.11 PER SHARE CASH DIVIDEND
SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced financial and operational results for the three months ended March 31, 2025.
About this update from Sandridge Energy, Inc.
[{"type":"text","content":"OKLAHOMA CITY, May 7, 2025 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced financial and operational results for the three months ended March 31, 2025.","length":225,"tagName":"p"},{"type":"image","alt":"SandRidge Energy, Inc. logo. (PRNewsFoto/SandRidge Energy, Inc.)","displaySize":"","headline":null,"caption":"SandRidge Energy, Inc. logo. (PRNewsFoto/SandRidge Energy, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":144,"url":"https://media.zenfs.com/en/prnewswire.com/ecfed199746f44ea74a177195a997bb2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/8_Ro6y2BP4aXGFwtRX5DZQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI1NDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/ecfed199746f44ea74a177195a997bb2","width":400,"height":144}},"href":"https://mma.prnewswire.com/media/95357/sandridge_energy__inc__logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Recent Highlights","length":17,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"On May 5, 2025, the Board declared a cash dividend of $0.11 per share of the Company's common stock, payable on June 2, 2025 to shareholders of record on May 19, 2025","length":170,"tagName":"p"}]},{"val":[{"type":"text","content":"Repurchased $5.0 million of Company stock in the first quarter","length":62,"tagName":"p"}]},{"val":[{"type":"text","content":"As of March 31, 2025, the Company had $101.1 million of cash and cash equivalents, including restricted cash","length":108,"tagName":"p"}]},{"val":[{"type":"text","content":"Production averaged 17.9 MBoe per day during the first quarter, an increase of 17% on a Boe basis versus the same period in 2024. Oil production increased 30% and total revenues increased 41% during the quarter versus the same period in 2024, on production that benefited from our Cherokee acquisition and improved commodity price realizations, respectively","length":357,"tagName":"p"}]},{"val":[{"type":"text","content":"During the quarter, successfully drilled the first well of SandRidge's operated 1-rig Cherokee drilling program with first production anticipated in mid-May","length":160,"tagName":"p"}]},{"val":[{"type":"text","content":"First quarter net income of $13.0 million, or $0.35 per basic share. Adjusted ne...