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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues        
Oil and natural gas $ 454,282 $ 429,758 $ 932,299 $ 771,123
Drilling and services 16,078 33,632 33,448 62,941
Midstream and marketing 15,198 8,852 28,230 17,158
Construction contract 23,253 0 23,253 0
Other 4,176 6,192 7,447 8,847
Total revenues 512,987 478,434 1,024,677 860,069
Expenses        
Production 116,811 122,481 249,312 205,791
Production taxes 6,564 11,001 16,003 23,255
Cost of sales 15,348 19,241 31,665 36,802
Midstream and marketing 14,927 8,559 26,730 16,513
Construction contract 23,253 0 23,253 0
Depreciation and depletion - oil and natural gas 138,903 139,260 296,429 226,326
Depreciation and amortization - other 16,022 15,348 31,358 29,860
Accretion of asset retirement obligations 9,800 7,965 19,579 10,572
Impairment 15,643 0 15,643 0
General and administrative 173,261 61,716 252,705 112,017
Gain on derivative contracts (103,654) (669,850) (62,757) (415,204)
(Gain) loss on sale of assets (349) 300 397,825 3,380
Total expenses 426,529 (283,979) 1,297,745 249,312
Income (loss) from operations 86,458 [1] 762,413 [1] (273,068) [2] 610,757 [2]
Other income (expense)        
Interest expense (61,159) (68,569) (147,069) (135,534)
Bargain purchase gain 0 122,696 0 122,696
Loss on extinguishment of debt 0 0 (82,005) 0
Other (expense) income, net (106) (81) 505 2,387
Total other (expense) income (61,265) 54,046 (228,569) (10,451)
Income (loss) before income taxes 25,193 816,459 (501,637) 600,306
Income tax expense (benefit) 508 (100,617) 4,937 (100,546)
Net income (loss) 24,685 917,076 (506,574) 700,852
Less: net income (loss) attributable to noncontrolling interest 45,121 99,004 (6,798) 100,958
Net (loss) income attributable to SandRidge Energy, Inc. (20,436) 818,072 (499,776) 599,894
Preferred stock dividends 13,881 13,881 27,763 27,763
(Loss applicable) income available to SandRidge Energy, Inc. common stockholders $ (34,317) $ 804,191 $ (527,539) $ 572,131
(Loss) earnings per share        
Basic (in dollars) $ (0.07) $ 1.74 $ (1.10) $ 1.33
Diluted (in dollars) $ (0.07) $ 1.46 $ (1.10) $ 1.13
Weighted average number of common shares outstanding        
Basic (in shares) 479,154 461,008 478,494 430,802
Diluted (in shares) 479,154 560,640 478,494 530,378
[1] Exploration and production segment income from operations includes unrealized gains of $85.9 million and $580.7 million on commodity derivative contracts for the three-month periods ended June 30, 2013 and 2012, respectively.
[2] Exploration and production segment (loss) income from operations includes unrealized gains of $61.1 million and $451.5 million on commodity derivative contracts for the six-month periods ended June 30, 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 six-month period ended June 30, 2013.