10-Q Filing

SANDRIDGE ENERGY INC CIK: 1349436 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001349436-19-000018`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	sd-20190331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 48 Cash Flow Statement 60 Stockholders Equity 17

Balance Sheet 68 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 (in shares)	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.66M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	35.69M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.35M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	35.69M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	35.69M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	35.69M	shares	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.98M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$51.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$45.50M	USD	Point-in-time
Derivative contracts	`DerivativeAssetsCurrent`	$5.29M	USD	Point-in-time
Derivative contracts	`DerivativeAssetsCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.13M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.63M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$251.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$265.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$63.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$73.33M	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.27B	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.34B	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$60.15M	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$57.36M	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$614.97M	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$580.13M	USD	Point-in-time
Net oil and natural gas properties capitalized costs	`OilAndGasPropertyFullCostMethodNet`	$786.94M	USD	Point-in-time
Net oil and natural gas properties capitalized costs	`OilAndGasPropertyFullCostMethodNet`	$749.11M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$200.01M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$200.84M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$820.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.06M	USD	Point-in-time
Total assets	`Assets`	$1.02B	USD	Point-in-time
Total assets	`Assets`	$1.05B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$111.80M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$119.44M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$20.00M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$25.39M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$25.36M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$29.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$164.82M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$137.19M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$34.67M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$35.84M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$7.43M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$4.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$208.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$176.62M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 35,687 issued and outstanding at March 31, 2019 and December 31, 2018	`CommonStockValue`	$36.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 35,687 issued and outstanding at March 31, 2019 and December 31, 2018	`CommonStockValue`	$36.00K	USD	Point-in-time
Warrants	`WarrantsAndRightsOutstanding`	$88.52M	USD	Point-in-time
Warrants	`WarrantsAndRightsOutstanding`	$88.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.06B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.06B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-296.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-301.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$839.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$813.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$843.46M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$847.72M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.05B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.02B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$87.13M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$73.24M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$22.78M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$23.52M	USD	1 Quarter
Production, ad valorem, and other taxes	`ProductionTaxExpense`	$6.23M	USD	1 Quarter
Production, ad valorem, and other taxes	`ProductionTaxExpense`	$5.08M	USD	1 Quarter
Depreciation and depletion oil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$28.00M	USD	1 Quarter
Depreciation and depletion oil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$36.47M	USD	1 Quarter
Depreciation and amortization other	`OtherDepreciationAndAmortization`	$3.15M	USD	1 Quarter
Depreciation and amortization other	`OtherDepreciationAndAmortization`	$2.94M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$4.17M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$9.94M	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$13.68M	USD	1 Quarter
Proxy contest	`ProfessionalFeesExpenseIncome`	$407.00K	USD	1 Quarter
Proxy contest	`ProfessionalFeesExpenseIncome`	-	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	$31.59M	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	-	USD	1 Quarter
Loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-18.33M	USD	1 Quarter
Loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-209.00K	USD	1 Quarter
Other operating expense	`OtherOperatingIncomeExpenseNet`	$-82.00K	USD	1 Quarter
Other operating expense	`OtherOperatingIncomeExpenseNet`	$-16.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$129.09M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$77.50M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.26M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-41.97M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$585.00K	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$948.00K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$1.15M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-431.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$873.00K	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$-1.02M	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$1.08M	USD	1 Quarter
Loss before income taxes	`IncomeLossAttributableToParent`	$-5.28M	USD	1 Quarter
Loss before income taxes	`IncomeLossAttributableToParent`	$-40.89M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-40.89M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.18	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	34.58M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.32M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.32M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.58M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-40.89M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$72.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-335.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$39.41M	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$31.15M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$4.17M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$117.00K	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$117.00K	USD	1 Quarter
Amortization of premiums and discounts on debt	`AmortizationOfDebtDiscountPremium`	$-47.00K	USD	1 Quarter
Amortization of premiums and discounts on debt	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$1.15M	USD	1 Quarter
Loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-18.33M	USD	1 Quarter
Loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-209.00K	USD	1 Quarter
Cash received (paid) on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	$-5.08M	USD	1 Quarter
Cash received (paid) on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	$6.12M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$15.87M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$996.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-35.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-235.00K	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-9.55M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$9.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.41M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$31.57M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquireProductiveAssets`	$65.53M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquireProductiveAssets`	$62.25M	USD	1 Quarter
Acquisition of assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	-	USD	1 Quarter
Acquisition of assets	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$-326.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$341.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$955.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.57M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-61.59M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$39.60M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$36.30M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$19.60M	USD	1 Quarter
Reduction of financing lease liability	`FinanceLeasePrincipalPayments`	$293.00K	USD	1 Quarter
Reduction of financing lease liability	`FinanceLeasePrincipalPayments`	-	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.66M	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-37.97M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$19.71M	USD	1 Quarter
NET DECREASE IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-10.31M	USD	1 Quarter
NET DECREASE IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-72.13M	USD	1 Quarter
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.18M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.64M	USD	Point-in-time
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`	$9.34M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.18M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.64M	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`	$9.34M	USD	Point-in-time
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$408.00K	USD	1 Quarter
Change in accrued capital expenditures	`IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid`	$-9.19M	USD	1 Quarter
Change in accrued capital expenditures	`IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid`	$28.26M	USD	1 Quarter
Right-of-use assets obtained in exchange for financing lease obligations	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	$1.99M	USD	1 Quarter
Right-of-use assets obtained in exchange for financing lease obligations	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	-	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	35.69M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	35.69M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$839.94M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$813.44M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$843.46M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$847.72M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.07M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.05M	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-40.89M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	35.69M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	35.69M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$839.94M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$813.44M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$843.46M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$847.72M	USD	Point-in-time

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