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Sandridge Energy (SD) Tops Q2 EPS by 5c, Updates Guidance

August 5, 2015 4:53 PM EDT

Sandridge Energy (NYSE: SD) reported Q2 EPS of ($0.03), $0.05 better than the analyst estimate of ($0.08).

2015 Operational Guidance

The Company is raising its 2015 production guidance. Additionally, the Company is lowering its LOE, production tax and DD&A guidance. The Company is also issuing standalone guidance for its Mid-Continent operations inclusive of its legacy Mid-Continent properties. Additional 2015 Guidance detail is available on the Company's website, www.sandridgeenergy.com, under Investor Relations/Guidance.

Total Company

Mid-Continent

Projection as of

Projection as of

Projection as of

May 6, 2015

August 5, 2015

August 5, 2015

Production

Oil (MMBbls)

9.0 - 10.0

9.3 - 10.0

7.9 - 8.6

NGL (MMBbls)

4.0 - 5.0

4.6 - 5.0

4.5 - 4.9

Total Liquids (MMBbls)

13.0 - 15.0

13.9 - 15.0

12.4 - 13.5

Natural Gas (Bcf)

89.5 - 93.5

90.5 - 93.5

78.4 - 81.4

Total (MMBoe)

28.0 - 30.5

29.0 - 30.5

25.5 - 27.0

Price Realization

Oil (differential below NYMEX WTI)

$3.75

$3.75

NGL (realized % of NYMEX WTI)

30%

30%

Natural Gas (differential below NYMEX Henry Hub)

$0.75

$0.75

Costs per Boe

Lifting

$12.25 - $13.00

$11.50 - $12.50

$8.75 - $9.75

Production Taxes

0.65 - 0.85

0.60 - 0.80

DD&A - oil & gas

11.50 - 13.50

11.00 - 12.00

DD&A - other

2.00 - 2.20

1.75 - 1.95

Total DD&A

$13.50 - $15.70

$12.75 - $13.95

G&A - cash

3.00 - 3.50

3.00 - 3.50

G&A - stock

0.50 - 0.75

0.50 - 0.75

Total G&A

$3.50 - $4.25

$3.50 - $4.25

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

$10

$10

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

$60

$60

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

$90

$90

Capital Expenditures ($ in millions)

Exploration and Production

$612

$612

Land and Geophysical

38

38

Total Exploration and Production

$650

$650

Oil Field Services

5

5

Electrical/Midstream

30

30

General Corporate

15

15

Total Capital Expenditures (excluding acquisitions)

$700

$700

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



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