SandRidge Energy Inc
sandridgeenergy.comSandRidge Energy Inc (NYSE: SD) is an oil and natural gas exploration and production company that acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs). Revenue comes entirely from selling produced volumes of oil, natural gas, and NGLs at prevailing commodity prices, with no disclosed subscription or fee-based component. Operations are concentrated in the Mid-Continent region. In FY2025, total production reached 6,768 MBoe (18.5 MBoe/d average), up from 6,056 MBoe in FY2024. Realized prices in FY2025 averaged $63.64 per barrel of oil, $2.10 per Mcf of natural gas, and $16.64 per barrel of NGLs. Total proved reserves stood at 69.1 MMBoe as of December 31, 2025, with a PV-10 of $439.6 million. Customer concentration is material: the three largest customers accounted for approximately 68% of FY2025 revenue, with the top two representing 32.6% and 21.5% respectively. The company invested $43.7 million in FY2025 to convert proved undeveloped reserves to proved developed producing status.
Products & Services
Crude oil, natural gas, and natural gas liquids (NGLs) produced from operated and non-operated wells in the Mid-Continent region.
Revenue Model
Transactional commodity sales: revenue is generated by selling produced oil, natural gas, and NGLs at spot or hedged prices. No recurring fee or service revenue is disclosed in the filing.
Customers & Markets
Concentrated customer base: three largest customers represented approximately 68% of FY2025 revenue, with the top two at 32.6% and 21.5% respectively. End markets are commodity markets for crude oil, natural gas, and NGLs.
Geographic Exposure
Exclusively Mid-Continent region in the United States. As of the FY2025 10-K, the company held 491,197 gross (337,623 net) developed acres and 83,402 gross (40,914 net) undeveloped acres in the Mid-Continent.
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