SandRidge Energy gains on higher Q4 profit, lower spending forecast

SandRidge Energy

16/03/2023 15:45

** Shares of oil and gas firm SandRidge Energy Inc  SD.N  up
5.9% at $13.83
    ** Co's Q4 net income rises to $105.23 mln from $36.84 mln a
year earlier, helped by higher prices for oil and gas
 urn:newsml:reuters.com:*:nPn7L9SCMa
    ** SD sees 2023 capex to be $26 mln-$35 mln, compared with
$49.21 mln in 2022
    ** Forecasts 2023 total production to be 5.3 mln- 6.5 mln
barrels of oil equivalent (boe) vs 6.5 million boe in 2022
    ** Shares have fallen ~19% YTD, including session gains

 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))