XML 129 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues      
Oil and natural gas $ 1,759,282 $ 1,226,794 $ 774,763
Drilling and services 116,633 103,298 28,543
Midstream and marketing 40,486 66,690 100,118
Century Plant construction 796,323 0 0
Other 18,241 18,431 28,312
Total revenues 2,730,965 1,415,213 931,736
Expenses      
Production 477,154 322,877 237,863
Production taxes 47,210 46,069 29,170
Drilling and services 68,227 65,654 22,368
Midstream and marketing 39,669 66,007 90,149
Century Plant construction costs 796,323 0 0
Depreciation and depletion - oil and natural gas 568,029 317,246 265,914
Depreciation and amortization - other 60,805 53,630 50,776
Accretion of asset retirement obligations 28,996 9,368 9,421
Impairment 316,004 2,825 0
General and administrative 241,682 148,643 179,565
(Gain) loss on derivative contracts (241,419) (44,075) 50,872
Loss (gain) on sale of assets 3,089 (2,044) 2,424
Total expenses 2,405,769 986,200 938,522
Income (loss) from operations 325,196 [1] 429,013 [1] (6,786) [1]
Other income (expense)      
Interest expense (303,349) (237,332) (247,442)
Bargain purchase gain 122,696 0 0
Loss on extinguishment of debt (3,075) (38,232) 0
Other income, net 4,741 3,122 2,558
Total other expense (178,987) (272,442) (244,884)
Income (loss) before income taxes 146,209 156,571 (251,670)
Income tax benefit (100,362) (5,817) (446,680)
Net income 246,571 162,388 195,010
Less: net income attributable to noncontrolling interest 105,000 54,323 4,445
Net income attributable to SandRidge Energy, Inc. 141,571 108,065 190,565
Preferred stock dividends 55,525 55,583 37,442
Income available to SandRidge Energy, Inc. common stockholders $ 86,046 $ 52,482 $ 153,123
Earnings per share      
Basic (in dollars) $ 0.19 $ 0.13 $ 0.52
Diluted (in dollars) $ 0.19 $ 0.13 $ 0.52
Weighted average number of common shares outstanding      
Basic (in shares) 453,595 398,851 291,869
Diluted (in shares) 456,015 406,645 315,349
[1] Exploration and production segment income from operations includes unrealized (gains) losses of $(209.7) million, $(94.8) million and $275.2 million on commodity derivative contracts for the years ended December 31, 2012, 2011 and 2010, respectively, and impairment of the Company’s goodwill of $235.4 million for the year ended December 31, 2012. For the year ended December 31, 2012, the loss from operations for the midstream services segment includes a $59.7 million impairment of the Company’s gas treating plants in west Texas and the loss from operations in the All Other column includes a $19.6 million impairment of the Company’s CO2 compression facilities.