Third quarter financial results will be made known Tuesday by Oklahoma City’s SandRidge Energy, Inc. as investors wait to learn if the company improved on its second quarter results.
The report will be made public after the close of trading later in the day and the company will follow up with a conference call Wednesday morning at 10 a.m. Central Time. Executives will review the financial results and operational highlights.
The company’s second quarter saw an increase of more than $14 million in net cash to a total of about $71 million. Total cash and cash equivalents came to $90.6 million as of June 30 of this year.
Net income was $16.3 million or 45 cents a share while adjusted net income totaled $16.5 million or 45 cents a share.
SandRidge also increased its net production to 19 MBoed from its Mid-Continent assets in Oklahoma and Kansas. The increase came without any new drilling and completions activity in the first half of 2021.
The company also reported it returned 49 wells to production that had been previously curtailed due to the 2020 commodity price downturn.