With a 17% increase in total revenue, SandRidge Energy, Inc. also announced an 8% increase in its on-going quarterly dividend program.
The Oklahoma City-based energy firm unveiled financial and operational results for the first quarter by declaring a 13 cent a share dividend as well as a one-time dividend of 20 cents per share.
First quarter net income was $18.7 million, or $0.51 per basic share. Adjusted net income(1) totaled $21.6 million or $0.59 per basic share and adjusted EBITDA came to $33.7 million for the quarter.
First quarter production averaged 18.6 MBoe a day which was a 4% increase on a Boe basis compared to the first quarter of 2025. Oil production increased 31% and total revenues finished up 17% compared to a year earlier. The company said the gain was driven primarily by new production from its operated development program.
During the quarter, SandRidge successfully drilled two and completed three wells as part of its ongoing one-rig Cherokee development program. In April, the third well drilled in 2026 achieved the lowest cost to date for the program
“The SandRidge team delivered another strong quarter, to include bringing on two new operated wells which benefited oil production during the period. I’m proud of our team that continues to execute, while maintaining a low G&A burden, and more importantly, continues to build upon the Company’s record of more than four years without a recordable safety incident,” stated Grayson Pranin, SandRidge’s President, Chief Executive Officer & Director.