SandRidge Energy, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 05:22 pm EST
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SandRidge Energy, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 38.15 million compared to USD 70.9 million a year ago. Net income was USD 18.67 million compared to USD 53.73 million a year ago. Basic earnings per share from continuing operations was USD 0.51 compared to USD 1.46 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to USD 1.45 a year ago.
For the nine months, revenue was USD 114.72 million compared to USD 198.15 million a year ago. Net income was USD 59.07 million compared to USD 136.94 million a year ago. Basic earnings per share from continuing operations was USD 1.6 compared to USD 3.73 a year ago. Diluted earnings per share from continuing operations was USD 1.59 compared to USD 3.69 a year ago.
SandRidge Energy, Inc. is an independent oil and gas company engaged in the development, acquisition and production of oil and gas assets. The Companyâs primary area of operations is the Mid-Continent region in Oklahoma and Kansas. Its primary operations are the production, development, and acquisition of hydrocarbon resources. The Company holds interests in about 1,453 gross (849 net) producing wells, approximately 958 of which it operates, and 548,895 gross (364,201 net) total acres under lease. Its productive wells consist of wells that are producing hydrocarbons. The Company sells its oil, natural gas, and natural gas liquids (NGLs) to a variety of customers, including oil and natural gas companies and trading and energy marketing companies. The Companyâs subsidiaries include SandRidge Exploration and Production, LLC, SandRidge Holdings, Inc., SandRidge Midstream, Inc., SandRidge Operating Company, and SandRidge Realty, LLC.
SANDRIDGE ENERGY, INC. 
