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Sandridge Energy (SD) Tops Q4 EPS by 8c, Offers Guidance

February 26, 2015 5:11 PM EST

Sandridge Energy (NYSE: SD) reported Q4 EPS of $0.08, $0.08 better than the analyst estimate of $0.00. Revenue for the quarter came in at $346.88 million versus the consensus estimate of $397.46 million.

2015 Operational Guidance

The Company is initiating 2015 guidance of total production of 28.0-30.5 MMBoe, or 6% organic growth at the midpoint, and capital expenditures of $700 million. The Company plans to spend approximately $400 million on Mid-Continent focus area drilling and approximately $30 million on appraisal drilling outside its focus acreage. The Company began 2015 with 32 rigs and expects to reduce to 7 rigs by mid-year, drilling approximately 180 laterals in its focus area in 2015. Additional 2015 Guidance detail is available on the Company's website, www.sandridgeenergy.com, under Investor Relations/Guidance.

Projection as of

February 26, 2015

Production

Oil (MMBbls)

9.0 - 10.0

Natural Gas Liquids (MMBbls)

4.0 - 5.0

Total Liquids (MMBbls)

13.0 - 15.0

Natural Gas (Bcf)

89.5 - 93.5

Total (MMBoe)

28.0 - 30.5

Price Realization

Oil (differential below NYMEX WTI)

$3.75

Natural Gas Liquids (realized % of NYMEX WTI)

30%

Natural Gas (differential below NYMEX Henry Hub)

$0.75

Costs per Boe

Lifting

$12.25 - $13.00

Production Taxes

0.65 - 0.85

DD&A - oil & gas

12.00 - 15.00

DD&A - other

2.00 - 2.20

Total DD&A

$14.00 - $17.20

G&A - cash

3.00 - 3.50

G&A - stock

0.50 - 0.75

Total G&A

$3.50 - $4.25

EBITDA from Oilfield Services and Other ($ in millions) (1)

$10

Adjusted Net Income Attributable to Noncontrolling Interest ($ in millions) (2)

$60

Adjusted EBITDA Attributable to Noncontrolling Interest ($ in millions) (3)

$90

Corporate Tax Rate

0%

Deferral Rate

0%

Capital Expenditures ($ in millions)

Exploration and Production

$612

Land and Geophysical

38

Total Exploration and Production

$650

Oil Field Services

5

Electrical/Midstream

30

General Corporate

15

Total Capital Expenditures (excluding acquisitions)

$700

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



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