10-Q Filing

SANDRIDGE ENERGY INC CIK: 1349436 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001349436-20-000023`
Period End Date	20200331
Filing Date	20200519
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	sd-20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 44 Cash Flow Statement 58 Stockholders Equity 20

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`	$4.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.29M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	35.81M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	35.77M	shares	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.45M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	35.77M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	35.81M	shares	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.69M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$21.04M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$28.64M	USD	Point-in-time
Derivative contracts	`DerivativeAssetsCurrent`	$6.25M	USD	Point-in-time
Derivative contracts	`DerivativeAssetsCurrent`	$114.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.34M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$538.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$527.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.61M	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.49B	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.48B	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$24.60M	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$24.30M	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$1.13B	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$1.16B	USD	Point-in-time
Net oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$351.53M	USD	Point-in-time
Net oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$379.34M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$188.60M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$181.85M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.14M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$953.00K	USD	Point-in-time
Total assets	`Assets`	$607.69M	USD	Point-in-time
Total assets	`Assets`	$572.99M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$64.94M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$55.03M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$21.73M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$22.12M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.25M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$88.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$78.01M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$57.50M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$46.00M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$52.90M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$52.12M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$6.90M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$6.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$205.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$183.03M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 35,810 issued and outstanding at March 31, 2020 and 35,772 issued and outstanding at December 31, 2019	`CommonStockValue`	$36.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 35,810 issued and outstanding at March 31, 2020 and 35,772 issued and outstanding at December 31, 2019	`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`	$-745.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-758.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$847.72M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$389.97M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$843.46M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$402.45M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$572.99M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$607.69M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$73.24M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$40.33M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$22.78M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$15.64M	USD	1 Quarter
Production, ad valorem, and other taxes	`ProductionTaxExpense`	$3.20M	USD	1 Quarter
Production, ad valorem, and other taxes	`ProductionTaxExpense`	$5.08M	USD	1 Quarter
Depreciation and depletion oil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$36.47M	USD	1 Quarter
Depreciation and depletion oil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$24.86M	USD	1 Quarter
Depreciation and amortization other	`OtherDepreciationAndAmortization`	$2.94M	USD	1 Quarter
Depreciation and amortization other	`OtherDepreciationAndAmortization`	$2.63M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$7.97M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$5.48M	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$9.94M	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	$3.25M	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	-	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$10.23M	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-209.00K	USD	1 Quarter
Other operating expense	`OtherOperatingIncomeExpenseNet`	$-82.00K	USD	1 Quarter
Other operating expense	`OtherOperatingIncomeExpenseNet`	$-277.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$77.50M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$53.09M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.26M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-12.76M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$585.00K	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$637.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$76.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-431.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.02M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-561.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossAttributableToParent`	$-13.32M	USD	1 Quarter
Loss before income taxes	`IncomeLossAttributableToParent`	$-5.28M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-650.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.28M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.36	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.36	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.32M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.55M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.55M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.32M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.28M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$72.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$283.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$27.49M	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$39.41M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$7.97M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$159.00K	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$117.00K	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$10.23M	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-209.00K	USD	1 Quarter
Cash received on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	$-4.09M	USD	1 Quarter
Cash received on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	$-5.08M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$996.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$169.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$156.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-35.00K	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-686.00K	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$9.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.10M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$31.57M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquireProductiveAssets`	$5.45M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquireProductiveAssets`	$62.25M	USD	1 Quarter
Acquisition of assets	`ProceedsFromPreviousAcquisition`	-	USD	1 Quarter
Acquisition of assets	`ProceedsFromPreviousAcquisition`	$326.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$341.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$989.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-61.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.46M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$21.00M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$39.60M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$32.50M	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`	$366.00K	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.87M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$19.71M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-10.31M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.77M	USD	1 Quarter
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`	$9.34M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.97M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.74M	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`	$9.34M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.97M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.74M	USD	Point-in-time
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$408.00K	USD	1 Quarter
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$540.00K	USD	1 Quarter
Cash received for income taxes	`ProceedsFromIncomeTaxRefunds`	-	USD	1 Quarter
Cash received for income taxes	`ProceedsFromIncomeTaxRefunds`	$616.00K	USD	1 Quarter
Purchase of PP&E in accounts payable	`IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid`	$43.42M	USD	1 Quarter
Purchase of PP&E in accounts payable	`IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid`	$1.07M	USD	1 Quarter
Right-of-use assets obtained in exchange for financing lease obligations	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	$67.00K	USD	1 Quarter
Right-of-use assets obtained in exchange for financing lease obligations	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	$1.99M	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	35.77M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	35.81M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$847.72M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$389.97M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$843.46M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$402.45M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.07M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$185.00K	USD	1 Quarter
Issuance of common stock for general unsecured claims	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Issuance of warrants for general unsecured claims	`StockIssuedDuringPeriodValueWarrants`	-	USD	1 Quarter
Issuance of warrants for general unsecured claims	`StockIssuedDuringPeriodValueWarrants`	-	USD	1 Quarter
Cash paid for tax withholdings on vested stock awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.28M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	35.77M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	35.81M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$847.72M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$389.97M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$843.46M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$402.45M	USD	Point-in-time

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