OKLAHOMA CITY, March 10, 2025 /PRNewswire/ — SandRidge Energy, Inc. (NYSE: SD) announced today its financial and operational results for the quarter and fiscal year ending December 31, 2024.
Key Points
- The Board approved a cash dividend of $0.11 per share of common stock on March 7, 2025, payable on March 31, 2025 to shareholders on record as of March 20, 2025
- In 2024, the Company paid regular quarterly dividends totaling $16.4 million and a special dividend of $55.9 million
- As of December 31, 2024, the Company held $99.5 million in cash and cash equivalents, including restricted cash
- Fourth quarter production averaged 19.1 MBoe per day, representing a 19% increase on a Boe basis compared to the same period in 2023. Oil production saw a 28% increase during the same period
- The Company successfully brought online its first operated wells in the Cherokee play in 2024, with three drilled but uncompleted wells (“DUCs”) achieving costs below the historical industry average in the play
- In 2024, the Company reported a net income of $63.0 million, or $1.70 per basic share
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