10-Q Filing

SANDRIDGE ENERGY INC CIK: 1349436 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001349436-18-000013`
Period End Date	20180331
Filing Date	20180508
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	q1201810q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 52 Cash Flow Statement 56 Stockholders Equity 13

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.56M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.01M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.65M	shares	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.17M	USD	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.17M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.65M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.56M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$71.28M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$67.99M	USD	Point-in-time
Derivative contracts	`DerivativeAssetsCurrent`	-	USD	Point-in-time
Derivative contracts	`DerivativeAssetsCurrent`	$1.31M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.25M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.24M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.29M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$15.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$112.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$195.10M	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.10B	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.06B	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$100.88M	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$91.79M	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$460.43M	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$486.64M	USD	Point-in-time
Net oil and natural gas properties capitalized costs	`OilAndGasPropertyFullCostMethodNet`	$697.26M	USD	Point-in-time
Net oil and natural gas properties capitalized costs	`OilAndGasPropertyFullCostMethodNet`	$709.07M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$216.87M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$225.98M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.29M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.34M	USD	Point-in-time
Total assets	`Assets`	$1.12B	USD	Point-in-time
Total assets	`Assets`	$1.04B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$118.87M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$139.16M	USD	Point-in-time
Derivative contracts	`DerivativeLiabilitiesCurrent`	$19.95M	USD	Point-in-time
Derivative contracts	`DerivativeLiabilitiesCurrent`	$10.63M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$40.94M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$41.02M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$425.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$8.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$198.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$180.19M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$37.50M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Derivative contracts	`DerivativeLiabilitiesNoncurrent`	$3.57M	USD	Point-in-time
Derivative contracts	`DerivativeLiabilitiesNoncurrent`	$5.14M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$36.53M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$37.40M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$3.18M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$3.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$279.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$226.54M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 35,560 issued and outstanding at March 31, 2018 and 35,650 issued and outstanding at December 31, 2017	`CommonStockValue`	$36.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 35,560 issued and outstanding at March 31, 2018 and 35,650 issued and outstanding at December 31, 2017	`CommonStockValue`	$36.00K	USD	Point-in-time
Warrants	`WarrantsAndRightsOutstanding`	$88.50M	USD	Point-in-time
Warrants	`WarrantsAndRightsOutstanding`	$88.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.04B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.05B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-286.92M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-327.81M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$813.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$839.94M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.12B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.04B	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Oil, natural gas and NGL	`OilAndGasSalesRevenue`	$86.97M	USD	1 Quarter
Oil, natural gas and NGL	`OilAndGasSalesRevenue`	$98.15M	USD	1 Quarter
Other	`OtherOperatingIncome`	$201.00K	USD	1 Quarter
Other	`OtherOperatingIncome`	$162.00K	USD	1 Quarter
Total revenues	`Revenues`	$87.13M	USD	1 Quarter
Total revenues	`Revenues`	$98.35M	USD	1 Quarter
Production	`LeaseOperatingExpense`	$24.71M	USD	1 Quarter
Production	`LeaseOperatingExpense`	$25.02M	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$3.18M	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$4.70M	USD	1 Quarter
Depreciation and depletionoil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$28.00M	USD	1 Quarter
Depreciation and depletionoil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$26.98M	USD	1 Quarter
Depreciation and amortizationother	`OtherDepreciationAndAmortization`	$3.15M	USD	1 Quarter
Depreciation and amortizationother	`OtherDepreciationAndAmortization`	$3.84M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$4.17M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$2.53M	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$19.54M	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$14.02M	USD	1 Quarter
Shareholder activism costs	`ProfessionalFees`	$407.00K	USD	1 Quarter
Shareholder activism costs	`ProfessionalFees`	-	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	$31.59M	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	$400.00K	USD	1 Quarter
Loss (gain) on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$34.18M	USD	1 Quarter
Loss (gain) on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-18.33M	USD	1 Quarter
Other operating expense	`OtherCostAndExpenseOperating`	$268.00K	USD	1 Quarter
Other operating expense	`OtherCostAndExpenseOperating`	$16.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$129.09M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$47.57M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-41.97M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$50.78M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$948.00K	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$939.00K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$1.15M	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$873.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$970.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$1.08M	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$31.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossAttributableToParent`	$-40.89M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossAttributableToParent`	$50.81M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$50.81M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-40.89M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.18	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.90	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.90	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.80M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	34.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.80M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$50.81M	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$-40.89M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-335.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$31.15M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$30.82M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$4.17M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$2.53M	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$117.00K	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$78.00K	USD	1 Quarter
Amortization of premiums and discounts on debt	`AmortizationOfDebtDiscountPremium`	$-47.00K	USD	1 Quarter
Amortization of premiums and discounts on debt	`AmortizationOfDebtDiscountPremium`	$-75.00K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$1.15M	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss (gain) on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$34.18M	USD	1 Quarter
Loss (gain) on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-18.33M	USD	1 Quarter
Cash paid on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	$6.12M	USD	1 Quarter
Cash paid on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	$638.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$15.87M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.26M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$360.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-235.00K	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-11.28M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-9.55M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.41M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$64.24M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquireProductiveAssets`	$65.53M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquireProductiveAssets`	$43.69M	USD	1 Quarter
Acquisition of assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	-	USD	1 Quarter
Acquisition of assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$48.07M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$10.20M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$955.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-81.56M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.57M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$36.30M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.49M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.42M	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.66M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-37.97M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.91M	USD	1 Quarter
NET DECREASE IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-72.13M	USD	1 Quarter
NET DECREASE IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-20.23M	USD	1 Quarter
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$101.31M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$174.07M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$153.84M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.18M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$101.31M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$174.07M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$153.84M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.18M	USD	Point-in-time
Change in accrued capital expenditures	`IncreaseDecreaseinCapitalExpendituresIncurredbutNotyetPaid`	$2.95M	USD	1 Quarter
Change in accrued capital expenditures	`IncreaseDecreaseinCapitalExpendituresIncurredbutNotyetPaid`	$28.26M	USD	1 Quarter
Equity issued for debt	`DebtConversionConvertedInstrumentAmount1`	$268.78M	USD	1 Quarter
Equity issued for debt	`DebtConversionConvertedInstrumentAmount1`	-	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	35.65M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	35.56M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$813.44M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$839.94M	USD	Point-in-time
Issuance of stock awards, net of cancellations	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.05M	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-40.89M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$50.81M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	35.65M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	35.56M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$813.44M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$839.94M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.