SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced the closing of its previously announced acquisition of certain producing assets and leasehold interests in the Cherokee play of the Western Anadarko Basin for $144 million, before customary purchase price adjustments. The Company funded the transaction with cash on hand. SandRidge also provided updated guidance for the full-year 2024, incorporating contributions from the new producing assets and joint development program, and made available an investor presentation regarding the acquisition on its website at investors.sandridgeenergy.com.
Updated 2024E Guidance Highlights
- LOE and G&A decreasing on a $/Boe basis combined with increased asset base and expanded activity
- Production and Revenue are benefited from the Western Anadarko Basin acquisition for September through December period(3), with additional benefit in 2025 and beyond
- D&C Capex is based on the completion of 4 drilled uncompleted ("DUC") wells and the initiation of a drilling campaign including up to 3 new wells by year end
- Non-D&C / Production Optimization Capex includes rod pump conversions, NW Stack heel fracs, leasing in focused areas and other projects
