SandRidge Energy, Inc. Earnings Recaps
Q1 2026
May 10, 2026
SandRidge’s shares declined modestly by 0.4% following Q1 results that were largely inline with expectations, showing steady production growth and margin improvements but no significant positive catalyst to drive the stock higher.
Key takeaways
- Production increased 4% year-over-year to 18.6 MBOE per day, with oil production up 31%, supporting a 17% revenue increase versus Q1 2025.
- Adjusted EBITDA rose to $33.7 million from $25.5 million last year; adjusted G&A expenses improved on a per BOE basis to $1.42 from $1.83.
- Cash flow from operations was stable at $19.8 million versus $20.3 million a year ago, though adjusted operating cash flow increased to $34.4 million.
- The company completed three wells and brought two online in the quarter, maintaining a disciplined capital spend of $19.9 million, within expectations.
- Dividend payments increased with an 8% raise in the regular dividend plus a one-time special dividend, reflecting shareholder return focus despite limited market enthusiasm.
Q3 2025
Nov 6, 2025
SandRidge Energy reported a strong Q3 2025 with a 32% revenue increase and 54% rise in adjusted EBITDA, driven by heightened production and favorable natural gas prices.
Key takeaways
- Production averaged 19 MBoe per day, up 12% year-over-year, with oil production rising 49%.
- Revenue reached approximately $40 million, a 32% increase from Q3 2024, while adjusted EBITDA rose to $27.3 million.
- The company maintained a debt-free status, had cash and equivalents of $103 million, and paid $4.4 million in dividends during the quarter.
- Free cash flow before acquisitions was approximately $6 million for the quarter, contributing to $29 million year-to-date.
- SandRidge's ongoing Cherokee drilling program produced favorable well performance, with initial wells demonstrating strong recovery trends.