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