$SD SandRidge Energy -3% after swinging to Q2 l
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Posted On: 08/09/2018 11:39:45 AM
$SD
SandRidge Energy -3% after swinging to Q2 loss
SandRidge Energy (SD -2.7%) slips after recording a Q2 loss of $0.05/share vs. a $0.23/share profit in the year-ago quarter, as the company says its strategic alternatives review process has moved to the evaluation phase.
"We have remained judicious in our capital spending as we advance efforts to explore any and all strategic alternatives," CEO Bill Griffin says.
SD says it produced 32.4K boe/day during Q2, down 23% Y/Y, and received an average price of $48.75/bbl of oil and $1.59/Mcf of natural gas, down from $49.15/bbl and $2.09/Mcf in the year-ago quarter.
SD says it drilled five new wells in Colorado's North Park in the quarter, with all five beating initial production estimates, including two with initial production rates of more than 1,500 bbl/day of oil.
The company maintains its FY 2018 guidance for production of 11.3M-11.9M boe and drilling and completion capex of $116M-$126M.
SandRidge Energy -3% after swinging to Q2 loss
SandRidge Energy (SD -2.7%) slips after recording a Q2 loss of $0.05/share vs. a $0.23/share profit in the year-ago quarter, as the company says its strategic alternatives review process has moved to the evaluation phase.
"We have remained judicious in our capital spending as we advance efforts to explore any and all strategic alternatives," CEO Bill Griffin says.
SD says it produced 32.4K boe/day during Q2, down 23% Y/Y, and received an average price of $48.75/bbl of oil and $1.59/Mcf of natural gas, down from $49.15/bbl and $2.09/Mcf in the year-ago quarter.
SD says it drilled five new wells in Colorado's North Park in the quarter, with all five beating initial production estimates, including two with initial production rates of more than 1,500 bbl/day of oil.
The company maintains its FY 2018 guidance for production of 11.3M-11.9M boe and drilling and completion capex of $116M-$126M.
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