secwatch.observer — SEC 8-K summary
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Issuer:     SANDRIDGE ENERGY INC (SD)
CIK:        0001349436
Form:       8-K/A
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001628280-24-047961
Event type: m_and_a
Sentiment:  positive
Materiality: 0.60
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SandRidge closes $123.8M cash acquisition of Upland Exploration assets; provides historical financials
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- Acquired oil & gas assets in Cherokee Play, Western Anadarko Basin for $123.8M cash on Aug 30, 2024.
- Acquired assets: $32.0M revenue, $4.7M direct op expenses (6M ended Jun 30, 2024); $38.7M revenue, $7.1M direct op expenses (FY2023).
- Pro forma combined net income $64.8M for 9M ended Sep 30, 2024 vs SandRidge historical $45.4M; pro forma diluted EPS $1.74 vs $1.22.
- Proved reserves as of Dec 31, 2023: 2,013 MBbl oil, 2,808 MBbl NGL, 14,342 MMcf gas (7,211 MBoe total).
- Acquisition funded with cash on hand; no new debt issued.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1349436/000162828024047961/0001628280-24-047961-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1349436/000162828024047961/sd-20240830.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-047961

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer