Nov 4, 2026, 5:14 PM ETEnergy

SandRidge Energy, Inc. — Third Quarter 2026 Earnings Summary

SDSANDRIDGE ENERGY INC

Financial Performance

Net income for the three months ended September 30, 2026, was $30.6 million ($0.83 per basic share), compared to $15.9 million ($0.44 per basic share) in the same period in 2025.
Adjusted net income for the quarter was $23.8 million ($0.64 per basic share), up from $15.5 million ($0.42 per basic share) in the prior year quarter.
Adjusted EBITDA for the quarter was $39.3 million, an increase of $12.0 million compared to $27.3 million in the third quarter of 2025.
Net cash provided by operating activities was $32.1 million for the quarter, compared to $25.3 million in the prior year quarter.
Free cash flow for the quarter was $10.5 million, compared to $5.9 million in the third quarter of 2025.
Adjusted G&A for the quarter was $1.8 million ($0.94 per Boe), down from $2.1 million ($1.23 per Boe) in the prior year quarter.
Lease operating expenses (LOE) were $11.0 million ($5.75 per Boe) for the quarter, compared to $10.3 million ($5.73 per Boe) in the prior quarter and $10.9 million ($6.25 per Boe) in the prior year quarter.
Total revenues for the quarter were $54.4 million, a 37% increase compared to $39.8 million in the third quarter of 2025.
As of September 30, 2026, the Company held $70.0 million in cash and cash equivalents, including $1.3 million in restricted cash.
The Company had no outstanding term or revolving debt obligations as of September 30, 2026.
Stockholders' equity increased to $569.5 million as of September 30, 2026, from $510.9 million as of December 31, 2025.

The Company remains committed to growing its asset base through a one-rig development program in the Cherokee Play.
Management is evaluating accretive merger and acquisition opportunities, supported by a strong balance sheet and commitment to capital return.
A production optimization program involving artificial lift conversions to more efficient systems is underway.
A leasing program is being implemented to bolster future development and extend development in Cherokee assets.
Total leasehold position, inclusive of Cherokee, NW Stack, and legacy assets, is approximately 95% held by production.
The Company will monitor commodity prices, project results, and costs, with the ability to curtail capital activity or reactivate wells based on market conditions.
Development decisions for 2026 and beyond will be shaped by reinvestment rates, cash flow maintenance, and prioritization of the regular-way dividend.

Production averaged 20.9 MBoe per day in the third quarter, a 10% increase on a Boe basis versus the same period in 2025.
Oil production increased 8% year-over-year in the third quarter.
The Company closed an acquisition of producing assets and leasehold interests in the Cherokee Play, adding ~7,000 net leasehold acres, interests in 21 wells, and eight proven development locations.
Seven gross wells were completed as part of the ongoing one-rig Cherokee development program during the first nine months of 2026.
Capital expenditures for drilling, completion, and capital workovers totaled $57.3 million for the nine months ended September 30, 2026.
Realized oil price per barrel was $85.27 for the quarter, up 20% from $65.23 in the prior year quarter.
Realized natural gas price per Mcf was $1.62 for the quarter, down 5% from $1.71 in the prior year quarter.
Realized NGL price per barrel was $22.68 for the quarter, up 45% from $15.61 in the prior year quarter.
Realized price per Boe was $28.32 for the quarter, up 24% from $22.82 in the prior year quarter.

The Company operates primarily in the Mid-Continent region of Oklahoma, Texas, and Kansas.
Strong WTI prices and current WTI futures are expected to provide a tailwind through the end of the year and into the next.
The Company maintains best-in-class administrative costs relative to its growing asset base.
The Company utilizes a hedging program with fixed price swaps and costless collars for oil, natural gas, and NGLs through June 2027.

Forward-looking statements are subject to risks including the ability to execute and integrate acquisitions, volatility of oil and natural gas prices, and success in discovering and developing reserves.
Risks include actual decline curves, availability of capital, counterparty obligations, credit conditions, and changes in economic conditions.
Regulatory changes, including those related to carbon dioxide and greenhouse gas emissions, and the availability of alternative energy sources pose potential risks.
The Company notes that actual results may differ materially from projected results due to factors beyond its control.

President, CEO, and Director Grayson Pranin highlighted the company's record of five years without a recordable safety incident.
Management expressed amazement at the team's ability to maintain low G&A while integrating new assets.
Pranin noted the positive backdrop provided by strong WTI prices for integrating new assets into development plans.
The tone reflects confidence in the one-rig program, the efficiency of operations, and the strategic value of the recent Cherokee Play acquisition.

On November 3, 2026, the Board declared a dividend of $0.13 per share, payable on November 30, 2026, to stockholders of record on November 19, 2026.
Stockholders may elect to receive dividends in cash or additional shares via the Dividend Reinvestment Plan (DRIP).
Since the inception of the 10b5-1 share repurchase program, the Company has repurchased 0.6 million shares at an average price of $10.75 per share.
Of the $75.0 million repurchase authorization, $68.3 million remained available as of September 30, 2026.
No shares were repurchased during the third quarter of 2026.
The Company maintains an ESG commitment including no routine flaring, transporting nearly 90% of produced water via pipeline, and powering nearly all well sites with electricity.
Total dividends paid for the nine months ended September 30, 2026, were $18.9 million.
The Company will host a conference call on November 5, 2026, at 1:00 pm CT to discuss results.