10-Q Filing

SANDRIDGE ENERGY INC CIK: 1349436 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001628280-21-010020`
Period End Date	20210331
Filing Date	20210512
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	sd-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 48 Cash Flow Statement 64 Stockholders Equity 19

Balance Sheet 66 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`	$22.13M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	35.93M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.88M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	36.13M	shares	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.64M	USD	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$6.14M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	35.93M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$18.96M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$19.58M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.84M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.89M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$80.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$80.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$50.81M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$98.40M	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.44B	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.46B	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$13.34M	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$17.96M	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$1.38B	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$1.38B	USD	Point-in-time
Net oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$80.09M	USD	Point-in-time
Net oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$106.22M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$101.06M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$103.12M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$680.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$703.00K	USD	Point-in-time
Total assets	`Assets`	$260.83M	USD	Point-in-time
Total assets	`Assets`	$280.25M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$51.43M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$42.28M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$16.47M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$15.94M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$364.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$984.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$58.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.88M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$20.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$20.00M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$40.70M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$35.93M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$2.41M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$3.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$116.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$132.77M	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; 36,135 issued and outstanding at March 31, 2021 and 35,928 issued and outstanding at December 31, 2020	`CommonStockValue`	$36.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 36,135 issued and outstanding at March 31, 2021 and 35,928 issued and outstanding at December 31, 2020	`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`	$-987.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.02B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$402.45M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$128.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$163.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$389.97M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$280.25M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$260.83M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$33.62M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$40.33M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$7.95M	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`	$2.18M	USD	1 Quarter
Depreciation and depletion oil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$24.86M	USD	1 Quarter
Depreciation and depletion oil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$2.50M	USD	1 Quarter
Depreciation and amortization other	`OtherDepreciationAndAmortization`	$1.49M	USD	1 Quarter
Depreciation and amortization other	`OtherDepreciationAndAmortization`	$2.63M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$7.97M	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$5.48M	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$2.09M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$2.05M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	-	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	$3.25M	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	$49.00K	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$10.23M	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	-	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$19.71M	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$-277.00K	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$48.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$53.09M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$-1.44M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-12.76M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$35.06M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$637.00K	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$47.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$28.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$76.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-561.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-19.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossAttributableToParent`	$35.04M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossAttributableToParent`	$-13.32M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-650.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$35.04M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-12.67M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.36	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.94	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.36	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	36.16M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.55M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.44M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.55M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$35.04M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-12.67M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$283.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$21.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$4.00M	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$27.49M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$7.97M	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$16.00K	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$159.00K	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$10.23M	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	-	USD	1 Quarter
Cash received on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	$-4.09M	USD	1 Quarter
Cash received on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	-	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$19.71M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$235.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$169.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$35.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$156.00K	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-686.00K	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$5.30M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.10M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.33M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.45M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.09M	USD	1 Quarter
Purchase of other property and equipment	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Purchase of other property and equipment	`PaymentsToAcquireOtherProductiveAssets`	$59.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$989.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$37.24M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.46M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$34.09M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$21.00M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$32.50M	USD	1 Quarter
Reduction of financing lease liability	`FinanceLeasePrincipalPayments`	$366.00K	USD	1 Quarter
Reduction of financing lease liability	`FinanceLeasePrincipalPayments`	$74.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$74.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Cash paid for tax obligations on vested stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$19.00K	USD	1 Quarter
Cash paid for tax obligations on vested stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.87M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-167.00K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.77M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$48.25M	USD	1 Quarter
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.27M	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, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$76.52M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.27M	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, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$76.52M	USD	Point-in-time
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$-540.00K	USD	1 Quarter
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$-92.00K	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`	$1.34M	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`	$363.00K	USD	1 Quarter
Right-of-use assets obtained in exchange for financing lease obligations	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	$67.00K	USD	1 Quarter
Carrying value of properties exchanged	`CarryingValueOfPropertyExchangedInTransaction`	$3.89M	USD	1 Quarter
Carrying value of properties exchanged	`CarryingValueOfPropertyExchangedInTransaction`	-	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	35.93M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$402.45M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$128.07M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$163.33M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$389.97M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$236.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$185.00K	USD	1 Quarter
Issuance of warrants for general unsecured claims	`StockIssuedDuringPeriodValueWarrants`	-	USD	1 Quarter
Cash paid for tax obligations on vested stock awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$19.00K	USD	1 Quarter
Cash paid for tax obligations on vested stock awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$35.04M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-12.67M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	35.93M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$402.45M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$128.07M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$163.33M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$389.97M	USD	Point-in-time

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