In This Article:
Shares of SandRidge Energy, Inc. SD have gained 12% since reporting results for the first quarter of 2025. This compares with the S&P 500 index’s 4.6% growth over the same time frame. Over the past month, the stock has risen 12% compared with the S&P 500’s 11.3% rally.
Revenue & EPS Growth
For the quarter ended March 31, 2025, SandRidge reported total revenues of $42.6 million, marking a 41% increase from $30.3 million in the year-ago period, driven by a 17% increase in total production and a 30% jump in oil output, underpinned by the Cherokee acquisition and improved commodity price realizations.
The company's diluted earnings per share (EPS) were 35 cents, up from 30 cents in the first quarter of 2024. The adjusted EPS was 39 cents, improving from 23 cents in the prior-year period.
SandRidge Energy, Inc. Price, Consensus and EPS Surprise
SandRidge Energy, Inc. price-consensus-eps-surprise-chart | SandRidge Energy, Inc. Quote
Operational & Financial Strength
Free Cash Flow & Liquidity
The company maintained a disciplined approach to spending, generating $13.6 million in free cash flow compared with the $14.5 million achieved in the first quarter of 2024 despite an increase in capital expenditure to support drilling and optimization activities. As of March 31, SandRidge held $101.1 million in cash and equivalents, and reported no outstanding debt. The company paid out $4.1 million in dividends in the quarter, contributing to a cumulative $4.25 per share in dividends distributed since 2023.
Production & Pricing
Production averaged 17.9 thousand barrels of oil equivalent per day (MBoed), up from 15.1 MBoed a year earlier. Oil accounted for 17% of the volume, while natural gas and NGLs made up 49% and 34%, respectively. Realized prices saw mixed performance — oil prices declined to $69.88 per barrel from $75.08, while natural gas rose significantly to $2.69 per Mcf from $1.25. NGL prices decreased to $20.07 per barrel from $23.65. This pricing dynamic contributed to the overall 41% increase in revenues and a $4.50-per-Boe year-over-year rise in average realized price.
Management Commentary
CEO Grayson Pranin highlighted the strength of the Cherokee drilling program, noting that four non-operated wells adjacent to SandRidge’s own have delivered promising early production rates. The company successfully drilled its first operated well in the Cherokee play, with production expected in the second quarter. Management reaffirmed its focus on capital discipline, emphasizing flexibility to scale activity based on commodity price trends and macroeconomic conditions.