Brief: SandRidge Energy Posts Q1 Loss Per Share Of $0.36

SandRidge Energy

18/05/2020 22:03

May 18 (Reuters) - SandRidge Energy Inc  SD.N :
    * SANDRIDGE ENERGY, INC. REPORTS FINANCIAL AND OPERATIONAL
RESULTS
FOR FIRST QUARTER 2020
    * Q1 LOSS PER SHARE $0.36
    * Q1 ADJUSTED LOSS PER SHARE $0.21
    * PRODUCED 28.2 MBOEPD FOR QUARTER
    * QTRLY NON-CASH CEILING TEST WRITE DOWN, AND ADJUSTED NET
LOSS OF
$7 MILLION, OR $0.21 PER SHARE
    * REDUCED BORROWINGS UNDER COMPANY'S CREDIT FACILITY TO $46
MILLION AT QUARTER END
    * FIELD PERSONNEL REDUCTIONS AND OTHER OPERATIONAL MEASURES
WILL
LOWER LOE TO NEW 2020 GUIDANCE OF $48 - $54 MILLION
    * REDUCED PLANNED CAPITAL EXPENDITURES FOR 2020 TO $4 - $9
MILLION
    * SANDRIDGE ENERGY - MANAGEMENT BELIEVES CO WILL HAVE
SUFFICIENT
FUNDS OR ACCESS TO OTHER CAPITAL TO OPERATE AS A GOING CONCERN
IN CURRENT ENVIRONMENT
    * ANTICIPATE PRODUCTION FOR 2020 TO REMAIN CLOSE TO PRIOR
GUIDANCE
    * QTRLY TOTAL REVENUE $40.3 MILLION VERSUS $73.2 MILLION

Source text for Eikon:  ID:nPn3CnWdka 
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