Revenue: As of FY2026 Q1, the actual value is USD 49.78 M.

EPS: As of FY2026 Q1, the actual value is USD 0.5.

EBIT: As of FY2026 Q1, the actual value is USD 17.04 M.

SandRidge Energy, Inc. operates as a single segment, focusing on the acquisition, development, and production of oil and natural gas in the U.S. Mid-Continent region.

Segment Revenue

• Total Revenues:
  • Three months ended March 31, 2026: $49,777 thousand.
  • Three months ended March 31, 2025: $42,604 thousand.
  • The increase of $7,173 thousand was driven by changes in production volumes ($5,526 thousand) and average prices ($1,647 thousand).
• Oil Revenue:
  • Three months ended March 31, 2026: $25,071 thousand.
  • Three months ended March 31, 2025: $18,880 thousand.
• Natural Gas Revenue:
  • Three months ended March 31, 2026: $15,621 thousand.
  • Three months ended March 31, 2025: $12,673 thousand.
• NGL Revenue:
  • Three months ended March 31, 2026: $9,085 thousand.
  • Three months ended March 31, 2025: $11,051 thousand.

Operational Metrics

• Net Income:
  • Three months ended March 31, 2026: $18,670 thousand.
  • Three months ended March 31, 2025: $13,049 thousand.
• Income from Operations:
  • Three months ended March 31, 2026: $17,856 thousand.
  • Three months ended March 31, 2025: $12,189 thousand.
• Total Expenses:
  • Three months ended March 31, 2026: $31,921 thousand.
  • Three months ended March 31, 2025: $30,415 thousand.
• Lease Operating Expenses:
  • Three months ended March 31, 2026: $10,787 thousand, or $6.45 per Boe.
  • Three months ended March 31, 2025: $10,917 thousand, or $6.79 per Boe.
  • The decrease in lease operating expenses per Boe was primarily due to efficient operations and increased production volumes.
• Production, Ad Valorem, and Other Taxes:
  • Three months ended March 31, 2026: $3,021 thousand, or $1.81 per Boe (6.1% of revenue).
  • Three months ended March 31, 2025: $3,099 thousand, or $1.93 per Boe (7.3% of revenue).
  • The decrease per Boe was primarily due to a decrease in ad valorem taxes.
• Depreciation and Depletion—Oil and Natural Gas:
  • Three months ended March 31, 2026: $9,820 thousand, or $5.88 per Boe.
  • Three months ended March 31, 2025: $8,416 thousand, or $5.24 per Boe.
  • The increase was primarily due to increased sales volumes and depletion rate.
• General and Administrative Expenses:
  • Three months ended March 31, 2026: $2,988 thousand.
  • Three months ended March 31, 2025: $3,853 thousand.
  • The decrease was primarily due to a reduction in personnel and other costs.
• Loss on Derivative Contracts:
  • Three months ended March 31, 2026: -$3,526 thousand.
  • Three months ended March 31, 2025: -$2,487 thousand.
• Settlement Gains (Losses) on Derivative Contracts:
  • Three months ended March 31, 2026: $130 thousand (gain).
  • Three months ended March 31, 2025: -$159 thousand (loss).

Cash Flow

• Cash and Cash Equivalents (including Restricted Cash):
  • As of March 31, 2026: $104,096 thousand.
  • As of December 31, 2025: $112,345 thousand (beginning of year cash, cash equivalents and restricted cash).
• Net Cash Provided by Operating Activities:
  • Three months ended March 31, 2026: $19,759 thousand.
  • Three months ended March 31, 2025: $20,331 thousand.
• Net Cash Used in Investing Activities:
  • Three months ended March 31, 2026: -$23,515 thousand.
  • Three months ended March 31, 2025: -$9,255 thousand.
• Net Cash Used in Financing Activities:
  • Three months ended March 31, 2026: -$4,493 thousand.
  • Three months ended March 31, 2025: -$9,478 thousand.

Unique Metrics

• Production Volumes:
  • Total MBoe for Q1 2026: 1,671 MBoe (21.1% oil, 49.7% natural gas, 29.2% NGL).
  • Total MBoe for Q1 2025: 1,607 MBoe (16.8% oil, 48.9% natural gas, 34.3% NGL).
  • Average daily total volumes for Q1 2026: 18.6 MBoe/d.
  • Average daily total volumes for Q1 2025: 17.9 MBoe/d.
• Average Prices (as reported):
  • Oil: $71.11/Bbl (Q1 2026) vs. $69.88/Bbl (Q1 2025).
  • Natural Gas: $3.13/Mcf (Q1 2026) vs. $2.69/Mcf (Q1 2025).
  • NGL: $18.64/Bbl (Q1 2026) vs. $20.07/Bbl (Q1 2025).
• Derivative Contracts (as of March 31, 2026):
  • Oil Fixed Price Swaps: 799 Bbl/day at $74.37 (April 2026 - December 2026), 200 Bbl/day at $65.00 (January 2027 - December 2027).
  • Oil Producer Costless Collars: 975 Bbl/day with put at $57.56 and call at $79.93 (April 2026 - December 2026).
  • Natural Gas Fixed Price Swaps: 16,430 MMBtu/day at $4.17 (April 2026 - December 2026).
  • Natural Gas Producer Costless Collars: 4,500 MMBtu/day with put at $3.35 and call at $5.35 (April 2026 - December 2026).
  • NGL Fixed Price Swaps: 420 Bbl/day at $55.41 (April 2026 - December 2026).

Future Outlook and Strategy

SandRidge Energy, Inc. plans to grow its asset base through a one-rig development program in the Cherokee Shale Play and by evaluating accretive merger and acquisition opportunities, while maintaining a strong balance sheet and capital return program. The company also focuses on production optimization through artificial lift conversions and a leasing program to bolster future development in its Cherokee assets. Development decisions will be influenced by forward-looking commodity prices, project results, costs, and tariffs, with adjustments including capital activity curtailment or well reactivations based on market conditions, while prioritizing regular-way dividends.