10-Q Filing

SANDRIDGE ENERGY INC CIK: 1349436 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001628280-22-012678`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	sd-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 46 Cash Flow Statement 56 Stockholders Equity 18

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`	$137.26M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	36.73M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$163.51M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	36.67M	shares	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.26M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.73M	shares	Point-in-time
Restricted cash - other	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.26M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.67M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$21.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$26.71M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$626.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.14M	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`	$161.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$195.71M	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.46B	USD	Point-in-time
Proved	`CapitalizedCostsProvedProperties`	$1.45B	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$12.48M	USD	Point-in-time
Unproved	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$12.26M	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$1.37B	USD	Point-in-time
Less: accumulated depreciation, depletion and impairment	`CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities`	$1.37B	USD	Point-in-time
Net oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$93.05M	USD	Point-in-time
Net oil and natural gas properties	`OilAndGasPropertyFullCostMethodNet`	$97.42M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$97.79M	USD	Point-in-time
Other property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$96.28M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$332.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$294.00K	USD	Point-in-time
Total assets	`Assets`	$389.71M	USD	Point-in-time
Total assets	`Assets`	$352.91M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$45.78M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$47.29M	USD	Point-in-time
Derivative contracts	`DerivativeLiabilitiesCurrent`	$21.00K	USD	Point-in-time
Derivative contracts	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$17.37M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$17.61M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$627.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$643.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$64.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$65.31M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$42.55M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$41.76M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$1.65M	USD	Point-in-time
Other long-term obligations	`OtherLiabilitiesNoncurrent`	$1.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$109.52M	USD	Point-in-time
Total liabilities	`Liabilities`	$107.59M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 36,726 issued and outstanding at March 31, 2022 and 36,675 issued and outstanding at December 31, 2021	`CommonStockValue`	$37.00K	USD	Point-in-time
Common stock, $0.001 par value; 250,000 shares authorized; 36,726 issued and outstanding at March 31, 2022 and 36,675 issued and outstanding at December 31, 2021	`CommonStockValue`	$37.00K	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`	$-871.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-905.97M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$245.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$163.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$280.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$128.07M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$352.91M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$389.71M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$33.62M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$57.49M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$7.95M	USD	1 Quarter
Lease operating expenses	`ResultsOfOperationsProductionOrLiftingCosts`	$10.86M	USD	1 Quarter
Production, ad valorem, and other taxes	`ProductionTaxExpense`	$4.11M	USD	1 Quarter
Production, ad valorem, and other taxes	`ProductionTaxExpense`	$2.18M	USD	1 Quarter
Depreciation and depletion oil and natural gas	`ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion`	$2.40M	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`	$1.57M	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$2.53M	USD	1 Quarter
General and administrative	`OtherGeneralAndAdministrativeExpense`	$2.09M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$2.05M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$209.00K	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	$49.00K	USD	1 Quarter
Employee termination benefits	`PostemploymentBenefitsPeriodExpense`	-	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-1.06M	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`	$48.00K	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$64.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$-1.44M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$22.69M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$34.80M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$35.06M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$152.00K	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$47.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$76.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$28.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-76.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-19.00K	USD	1 Quarter
Income before income taxes	`IncomeLossAttributableToParent`	$35.04M	USD	1 Quarter
Income before income taxes	`IncomeLossAttributableToParent`	$34.72M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$35.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.72M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.95	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.94	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.94	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	36.16M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	36.63M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.44M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.02M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$35.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.72M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$21.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$4.00M	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$3.98M	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	$16.00K	USD	1 Quarter
Debt issuance costs amortization	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-1.06M	USD	1 Quarter
(Gain) loss on derivative contracts	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	-	USD	1 Quarter
Cash (paid) received on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	-	USD	1 Quarter
Cash (paid) received on settlement of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentsOperatingActivities`	$1.08M	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`	$356.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$235.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$35.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$38.00K	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$5.30M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$6.88M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.19M	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`	$3.09M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.63M	USD	1 Quarter
Purchase of other property and equipment	`PaymentsToAcquireOtherProductiveAssets`	$59.00K	USD	1 Quarter
Purchase of other property and equipment	`PaymentsToAcquireOtherProductiveAssets`	$49.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$59.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$37.24M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.62M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$34.09M	USD	1 Quarter
Reduction of financing lease liability	`FinanceLeasePrincipalPayments`	$74.00K	USD	1 Quarter
Reduction of financing lease liability	`FinanceLeasePrincipalPayments`	$113.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$74.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$28.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	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`	$235.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-320.00K	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`	$26.25M	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`	$139.52M	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, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$165.78M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.27M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$139.52M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$76.52M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$165.78M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.27M	USD	Point-in-time
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$-145.00K	USD	1 Quarter
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$-92.00K	USD	1 Quarter
Purchase of Plant Property and Equipment in accounts payable	`IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid`	$680.00K	USD	1 Quarter
Purchase of Plant Property and Equipment in accounts payable	`IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid`	$1.34M	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`	-	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	36.73M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	36.67M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$245.32M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$163.33M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$280.19M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$128.07M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$384.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$236.00K	USD	1 Quarter
Cash paid for tax obligations on vested stock awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$235.00K	USD	1 Quarter
Cash paid for tax obligations on vested stock awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$19.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$35.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.72M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	36.73M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	36.67M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$245.32M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$163.33M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$280.19M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$128.07M	USD	Point-in-time

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