Sandridge Energy

What Sandridge Energy does

SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas exploration and production company headquartered at 1 East Sheridan, Suite 500, Oklahoma City, Oklahoma. The company's primary operations span the Mid-Continent and Western Anadarko regions across Oklahoma, Texas, and Kansas, with an active one-rig development program focused on the Cherokee play utilizing horizontal drilling and completion techniques. As of December 31, 2025, proved reserves stood at 69.1 MMBoe and full-year 2025 production averaged 18.5 MBoed, with Q4 2025 reaching a multi-year high of 19.5 MBOE/d and oil representing approximately 43% of mix following the prior Cherokee acquisition.

SandRidge generates revenue through the sale of produced crude oil, natural gas, and natural gas liquids to downstream buyers including refiners, natural gas processors, and commodity marketers, with revenue highly correlated to prevailing commodity prices (WTI-linked). The single revenue stream is commodity production, sold at market rates without proprietary pricing. In June 2026, the company announced a definitive agreement to acquire additional Cherokee Play assets for $65 million in cash (expected close Q3 2026), which would add approximately 3.0 MBoed of net production, 7,000 net leasehold acres, interests in 21 wells, and eight proven development locations.

Financially, the company reported FY2025 revenue of $156 million (up 25% YoY), adjusted EBITDA of $101.1 million, net income of $70.2 million ($1.91 per basic share), and exited 2025 with $112.3 million in cash and no outstanding debt. The 2026 capex guidance is $76–97 million, projected free cash flow is $64–68 million, and the company has declared a $0.12 per share cash dividend. The board and management team include several directors with ties to Carl C. Icahn's investment ecosystem (notably Chairman Vincent Intrieri and Director Brett Icahn), and the company is led by President & CEO Grayson Pranin.

Name

Sandridge Energy

Legal name

SandRidge Energy, Inc.

Website

https://sandridgeenergy.com

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Short description

SandRidge Energy (NYSE: SD) is an independent oil and gas exploration and production company operating in the Mid-Continent region (Oklahoma, Texas, and Kansas), running a one-rig Cherokee development program and selling crude oil, natural gas, and NGLs to downstream refiners and marketers at market prices.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration and Production

NAICS

Oil and Gas Extraction (2111)

SIC

Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH)

Keywords

• Oil and gas exploration
• Upstream production
• Natural gas liquids
• Cherokee play development
• Mid-Continent operations

Headquarters

HQ city

Oklahoma City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure

Revenue model

1. Oil and Gas Production Sales: SandRidge Energy generates revenue primarily through the sale of produced oil, natural gas, and natural gas liquids. The company sells its production at market prices, with revenue highly correlated to commodity price fluctuations (WTI oil prices). The company has shown ability to grow production volumes through acquisitions and development programs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

SandRidge Energy is an independent oil and natural gas exploration and production company that develops and acquires oil and gas properties in the Mid-Continent region of Oklahoma, Texas, and Kansas. Its core offering is the sale of produced crude oil, natural gas, and natural gas liquids generated through a one-rig development program in the Cherokee play and via accretive acquisitions of producing assets and leasehold interests.

Product overview

SandRidge Energy is an independent oil and gas exploration and production company structured as a single unified business operation. The company's primary offering is oil and gas production from its Mid-Continent operations in Oklahoma, Texas, and Kansas. The Cherokee Development Program represents the company's core growth initiative, involving active drilling and completion operations to develop proved reserves.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil and Gas Production Exploration, development, and production of crude oil, natural gas, and natural gas liquids from properties in the Mid-Continent region of Oklahoma, Texas, and Kansas. Production is sold to downstream refiners, natural gas processors, and commodity marketers at market prices.
• Cherokee Development Program The company's active drilling, completion, and acquisition program focused on the Cherokee play in the Mid-Continent region, designed to grow oil production and extend development inventory through operated wells and accretive transactions.

Quantifiable outcome

• 12% production growth year-over-year in 2025
• +4 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators11 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Expand Energy (formerly Chesapeake Energy): A major natural gas-weighted E&P formed via Chesapeake/Southwestern merger with significant Mid-Continent (Marcellus, Haynesville, Utica) exposure. Comparable as a public independent unconventional producer with an activist-era governance history similar to SandRidge's.
• Continental Resources: An independent unconventional E&P historically focused on the Bakken and STACK/Merge plays in the Mid-Continent. Comparable in terms of horizontal development approach and Mid-Continent asset base, though larger in scale.
• Devon Energy: A major Mid-Continent-focused independent E&P (Delaware Basin, Anadarko Basin). Overlaps directly with SandRidge's Cherokee/Mid-Continent footprint and uses comparable horizontal drilling and completion techniques, though at significantly larger scale.
• EOG Resources: The largest U.S. unconventional-focused independent with diverse multi-basin operations. Closely comparable to SandRidge through its premium well economics, low-decline shale development philosophy, and focus on organic growth plus bolt-on M&A.

Direct peers

• Ovintiv: A low-cost, liquids-weighted independent E&P with assets in the Permian, Montney, and Anadarko basins. Shares SandRidge's focus on unconventional horizontal development, capital efficiency, and shareholder returns, at a somewhat larger scale.
• Murphy Oil: A smaller independent E&P with onshore U.S. unconventional operations in the Eagle Ford and Mid-Continent areas. Compares to SandRidge through its mid-cap upstream focus, free cash flow emphasis, and capital-return program.
• Mewbourne Oil Company: A private, family-owned independent E&P focused on the Mid-Continent and Permian regions. Compares directly to SandRidge in scale, geographic concentration, and unconventional development focus, with similar operating philosophy around disciplined drilling.
• Coterra Energy: An independent E&P producing from the Permian Basin, Marcellus Shale, and Anadarko Basin. Compares through its unconventional oil and gas development model and Mid-Continent (Anadarko) acreage overlap with SandRidge.
• Range Resources: A small-to-mid cap independent E&P focused on unconventional resource development in the Appalachian and Mid-Continent regions. Similar in scale, capital discipline, and focus on free cash flow generation with minimal leverage.

Others

• Black Stone Minerals: A mineral and royalty interests owner with significant Mid-Continent acreage. While structurally different (not an operator), Black Stone is a Mid-Continent peer in scale and geographic focus — its former employee (Brandon Brown, now SandRidge CAO) also reflects industry personnel overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/SandRidgeEnergy
• Facebookfacebook.com/SandRidgeEnergy
• LinkedInlinkedin.com/company/sandridge-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sandridge Energy