share_log

SandRidge Energy, Inc. (SD) Q3 2024 Earnings Call Transcript Summary

Futu News ·  Nov 8 05:17  · Conference Call

The following is a summary of the SandRidge Energy, Inc. (SD) Q3 2024 Earnings Call Transcript:

Financial Performance:

  • SandRidge reported an adjusted EBITDA of nearly $18 million for Q3 2024, with net income of approximately $26 million, or $0.69 per basic share.

  • The company generated approximately $34 million in free cash flow over the first nine months of the year, a conversion rate of approximately 76% relative to adjusted EBITDA.

  • Revenue realizations for the quarter were $73.7 per barrel of oil, $0.92 per Mcf of gas, and $16.25 per barrel of NGLs.

Business Progress:

  • SandRidge completed the acquisitions in the Western Anadarko Basin, significantly raising its daily production rate and improving the oil and liquids percentage of its output.

  • They have initiated a disciplined capital return program, declaring a $0.11 per share dividend payable in November 2024, having paid a cumulative total of approximately $150 million or more than $4 per share to date.

Opportunities:

  • The acquisition provides commodity diversification and enhances inventory with a strong emphasis on the Cherokee shale play, which could lead to greater profitability from lower breakeven costs around $35 WTI.

Risks:

  • The company faces potential risks from commodity price fluctuations and economic downturns which might affect its capital allocation and future development plans.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment