SandRidge Energy, Inc. is an energy firm primarily involved in the identification, development, and extraction of crude oil and natural gas resources, ...
SandRidge Energy, Inc. (NYSE: SD) is an independent energy company engaged in the identification, development, and extraction of crude oil and natural gas resources, predominantly in the U.S. Mid-Continent region. As of December 31, 2021, the company held interests in 817 net producing wells and approximately 368,000 net leasehold acres ...SandRidge Energy, Inc. (NYSE: SD) is an independent energy company engaged in the identification, development, and extraction of crude oil and natural gas resources, predominantly in the U.S. Mid-Continent region. As of December 31, 2021, the company held interests in 817 net producing wells and approximately 368,000 net leasehold acres across Oklahoma and Kansas. Its total estimated proved reserves were 71.3 million barrels of oil equivalent. The company's operations are primarily focused on the exploitation of horizontal wells in the Mid-Continent area, leveraging advanced drilling techniques to maximize production efficiency. SandRidge's business model emphasizes low-cost operations, financial discipline, and shareholder returns. The company has no long-term debt, maintaining a debt-to-equity ratio of zero, which provides financial flexibility. Financially, SandRidge has demonstrated strong profitability with a net profit margin of 46.1% and a return on equity of 16% for the trailing twelve months. Its gross profit margin stands at 58.9%, reflecting efficient cost management. The company's enterprise value-to-EBITDA ratio is 2.94, indicating attractive valuation. SandRidge pays a dividend with a yield of approximately 5.1%, returning value to shareholders. Key executives include Grayson Pranin as President and CEO, Salah Gamoudi as CFO, and Jonathan Frates as Chairman. The management team focuses on optimizing production, controlling costs, and exploring strategic opportunities for growth. The company's headquarters are located in Oklahoma City, Oklahoma, and it trades on the New York Stock Exchange. SandRidge has weathered industry cycles through prudent financial management and remains committed to safe, responsible operations in the communities where it operates.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$156.4M
+24.8%
+2.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$70.2M
+11.5%
+43.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+43.1%
+17.4%
+49.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+34.7%
+30.8%
+17.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+44.9%
-10.7%
+39.2%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$32.5M
-31.7%
+2203.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+20.8%
-45.3%
+2148.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.0%
—
-100.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.17x
+3.2%
+9.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Ladies and gentlemen, thank you for joining us and welcome to SandRidge Energy's second quarter 2026 conference call. [Operator Instructions] I will now hand the conference over to Scott Prestridge, Senior Vice President of Finance and Strategy. Scott, please go ahead.
Scott Prestridge: Thank you and welcome everyone. With me today are Grayson Prather, our CEO; Jonathan Frates, our Chairman; Brandon Brown, our CAO; and Dean Parrish, our COO. We'd like to remind you that today's call contains forward-looking statements and assumptions that are subject to risk and uncertainty, and actual results may differ materially from those projected in these forward-looking statements. These statements are not guarantees of future performance, and our actual results may differ materially due to known and unknown risks and uncertainties as discussed in greater detail in our earnings release and our SEC filings. We may also refer to adjusted EBITDA and adjusted G&A and other non-GAAP financial measures. Reconciliations of these measures can be found on our website. With that, I'll turn the call over to Grayson.
Grayson Pranin: Thank you, and good afternoon. I'm pleased to report on a strong quarter and first half for the company. We continue to grow year-over-year production and revenue, driven primarily by our operating development program and higher commodity prices. We also announced a bolt-on acquisition that expands our footprint in the Cherokee play. Before getting into this and other highlights, I will turn things over to Jonathan for details on financial results.
Jonathan Frates: Thanks, Grayson. During the quarter, the price of oil averaged roughly $95 per barrel, while the price of natural gas fell to just above $3. The company grew production to 19.7 Mboe per day, representing an increase of 11% year over year on a BOE basis. Oil increased 22% over the same period. We generated revenues of just over $51 million, a 48% increase year over year, and adjusted EBITDA of $34 million, a 49% increase over the same period. As always, we continue to manage the business with the goal of maximizing long-term cash flow while growing production and utilizing our NOLs to shield us from income taxes. At the end of the quarter, cash, including restricted cash, was approximately $115 million, which represents roughly $3.09 per common share outstanding. The company paid $10.6 million in dividends during the quarter, which included our regular way dividend of 13 cents per share and the previously announced one-time special dividend of 20 cents per share. Including special dividends, SandRidge has now paid $5.05 per share in dividends since the beginning of 2023. On August 4, 2026, the Board of Directors declared a 13 cents per share dividend payable on August 31 to shareholders of record on August 19, 2026. Shareholders may receive cash or additional shares of common stock through the company's dividend reinvestment plan. The unhedged price realization for the …