Boston, MA 08/07/2014 (wallstreetpr) – SandRidge Energy Inc. (NYSE:SD) reported the financial and operational results for the Q2 2014. Along with the quarterly results, the company also brought in lights the financial performance of the company in the first half of 2014. You can find the details about financial results on their official websites.
Highlights of quarterly results:
One thing that brought smiles on the face of investors was the mid-continent production of the company that touched an eye-popping figure of 56.3 MBoe per day. According to reports, it was 11% more than the last quarter’s figures. If you talk about the yearly growth, then SD grew at a rate of 19% on YOY basis. At the same time, the Pro forma production of SandRidge Energy Inc. (NYSE:SD) also touched 69.8 MBoe per day. It was 8% more than what company managed to produce in the previous quarter.
The adjusted EBITDA (earnings before interest, tax depreciation and amortization) for net of Noncontrolling Interest and divestitures was $210 million in the Q2 2014, way more than what company made ($162 million) in Q2 2013. In other words, company’s EBITDA increased by a hefty margin of 30% over the last 12 months.
The operating cash flow for SD in the Q2 was as much as $187 million which was significantly more than the $176 million mark that company touched last year. Although company registered growth in terms of EBITDA and operating cash flow, but the adjusted net income of SandRidge Energy Inc. (NYSE:SD) had decreased. According to reports, it earned $0.06 per share or $34.2 million in the Q2 2014 in comparison to $0.08 per share or total $44.6 million in Q2 2013.
If you talk about the first half of 2014, then you can clearly see that SandRidge Energy Inc. (NYSE:SD) has earned total $323 million worth of cash flow that is slightly less than the figure ($358 million) that the company made in the first half of 2013.
