|By PR Newswire||
|August 11, 2014 07:00 AM EDT||
TORONTO, Aug. 11, 2014 /PRNewswire/ -- SandRidge Energy (NYSEMKT: SD) is an Oil and Natural Gas company with a principal focus on exploration and production activities in the Mid-Continent region of the United States. SandRidge Energy owns and operates additional interests in west Texas. The Company also operates businesses and infrastructure systems that are complementary to its primary exploration and production activities, including gas gathering and processing facilities, marketing operations, a saltwater disposal system, an electrical transmission system and a drilling rig and related oil field services business.
SandRidge Energy has been losing money for many years. It has been losing less in recent years due to improvements in oil field techniques, management efficiencies, etc. On a net basis it lost only $0.29 per common share in Q1 2014 compared to a much larger $1.03 per common share in Q1 2013. On an adjusted basis, the Company made $37.9 million (or $0.07 per diluted share) in Q1 2014 compared to $2.0 million (or $0.00 per diluted share) in Q1 2013. It had already been very close to profitability, while multiple factors, like Iraq wars, cut in Capex and divesting Gulf of Mexico properties, could vault its profitability.
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