Sandridge Energy (SD) Tops Q4 EPS by 3c; Reducing Rig Count, Capex

Sandridge Energy (NYSE: SD) reported Q4 EPS of $0.07, $0.03 better than the analyst estimate of $0.04.

"As highlighted in our November third quarter operations update, we're expanding our low cost multilateral program and successfully extending our Mid-Continent resource base with Chester and Woodford production. Since the operating update, oil prices have fallen sharply; however, SandRidge is defensively positioned for 2015. We have an enviable hedge position on the vast majority of our liquids production, have no bond maturities until 2020 and at quarter end $1.4 billion of liquidity. Importantly, our Mid-Continent drilling program continues to generate commercial returns, even at current commodity prices. Given the market backdrop, we are high grading our development plans and are already reducing our rig count and capex levels. We anticipate announcing 2015 capital plans and full year guidance in February. Meanwhile, our teams are focused on continued well cost reductions, now further supported by likely lower service costs ahead."

For earnings history and earnings-related data on Sandridge Energy (SD) click here.

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