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SandRidge Energy (NYSE:SD) released financial and operational results for the quarter ended September 30, 2019

On Tuesday SandRidge Energy (NYSE:SD) stock price moved downward at -1.49%. Its total market capitalization is $165822180. Its day lowest price was $4.61 and its hit its day highest price at $4.81. The stock recent volume is 158624 shares in comparison to its average trading volume of 224558 shares. Looking at the stock’s price level on the past 52-week graph, SD recorded a 52-week high of $11.62 and its 52-week low of $4.19.

On Nov. 12, 2019, SandRidge Energy (NYSE:SD) released financial and operational results for the quarter ended September 30, 2019.

Highlights during the third quarter:

  • Reduced G&A by 38% and Adjusted G&A by 39%, quarter over quarter
  • Reduced full year 2019 capital expenditures and adjusted G&A guidance midpoints
  • Net loss of $182 million, or $5.12 per share, driven largely by a non-cash ceiling test write down, and adjusted net loss of $17 million, or $0.49 per share

Paul McKinney, President and CEO commented, During the third quarter, we faced a challenging price environment, particularly with regard to NGLs, which significantly impacted our results. We continued to focus our efforts on further reducing our G&A costs, evaluating various M&A opportunities and reviewing our capital spending plans for the rest of the year. The planned reduction in our fourth quarter capital spending is in response to the continued volatile commodity price environment. While we are very pleased with the early results of our North Park wells completed during the quarter, we are currently assessing our capital budget for 2020 with a focus on value enhancing opportunities and financial discipline.

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