XML 78 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues    
Oil and natural gas $ 478,017 $ 341,365
Drilling and services 17,370 29,309
Midstream and marketing 13,032 8,306
Other 3,271 2,655
Total revenues 511,690 381,635
Expenses    
Production 132,501 83,310
Production taxes 9,439 12,254
Cost of sales 16,317 17,560
Midstream and marketing 11,803 7,954
Depreciation and depletion - oil and natural gas 157,526 87,066
Depreciation and amortization - other 15,336 14,513
Accretion of asset retirement obligations 9,779 2,607
General and administrative 79,444 50,301
Loss on derivative contracts 40,897 254,646
Loss on sale of assets 398,174 3,080
Total expenses 871,216 533,291
Loss from operations (359,526) [1] (151,656) [1]
Other income (expense)    
Interest expense (85,910) (66,965)
Loss on extinguishment of debt (82,005) 0
Other income, net 611 2,468
Total other expense (167,304) (64,497)
Loss before income taxes (526,830) (216,153)
Income tax expense 4,429 71
Net loss (531,259) (216,224)
Less: net (loss) income attributable to noncontrolling interest (51,919) 1,954
Net loss attributable to SandRidge Energy, Inc. (479,340) (218,178)
Preferred stock dividends 13,881 13,881
Loss applicable to SandRidge Energy, Inc. common stockholders $ (493,221) $ (232,059)
Loss per share    
Basic (in dollars) $ (1.03) $ (0.58)
Diluted (in dollars) $ (1.03) $ (0.58)
Weighted average number of common shares outstanding    
Basic (in shares) 477,826 400,597
Diluted (in shares) 477,826 400,597
[1] Exploration and production segment income from operations includes unrealized losses of $24.8 million and $129.2 million on commodity derivative contracts for the three-month periods ended March 31, 2013 and 2012, respectively. Exploration and production segment also includes a loss on the sale of the Permian Properties of $399.1 million for the three-month period ended March 31, 2013.