Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Consolidating Financial Statements Disclosure [Abstract]

Condensed Consolidating Balance Sheets of SandRidge Energy, Inc. and Wholly Owned Subsidiary Guarantors and Non-Guarantors

Condensed Consolidating Balance Sheets



	December 31, 2014
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets
Cash and cash equivalents	$	170,468	$	1,398	$	9,387	$	—		$	181,253
Accounts receivable, net	7		299,764		30,313		(7		)	330,077
Intercompany accounts receivable	751,376		1,339,152		41,679		(2,132,207		)	—
Derivative contracts	—		284,825		45,043		(38,454		)	291,414
Prepaid expenses	—		7,971		10		—			7,981
Other current assets	—		21,193		—		—			21,193
Total current assets	921,851		1,954,303		126,432		(2,170,668		)	831,918
Property, plant and equipment, net	—		4,987,281		1,227,776		—			6,215,057
Investment in subsidiaries	6,606,198		176,365		—		(6,782,563		)	—
Derivative contracts	—		47,003		—		—			47,003
Other assets	152,286		18,197		666		(5,902		)	165,247
Total assets	$	7,680,335	$	7,183,149	$	1,354,874	$	(8,959,133	)	$	7,259,225
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued expenses	$	201,368	$	477,399	$	4,632	$	(7	)	$	683,392
Intercompany accounts payable	1,315,667		780,645		35,895		(2,132,207		)	—
Derivative contracts	—		38,454		—		(38,454		)	—
Deferred tax liability	95,843		—		—		—			95,843
Other current liabilities	—		5,216		—		—			5,216
Total current liabilities	1,612,878		1,301,714		40,527		(2,170,668		)	784,451
Investment in subsidiaries	928,217		134,013		—		(1,062,230		)	—
Long-term debt	3,201,338		—		—		(5,902		)	3,195,436
Asset retirement obligations	—		54,402		—		—			54,402
Other long-term obligations	77		15,039		—		—			15,116
Total liabilities	5,742,510		1,505,168		40,527		(3,238,800		)	4,049,405
Equity
SandRidge Energy, Inc. stockholders’ equity	1,937,825		5,677,981		1,314,347		(6,992,328		)	1,937,825
Noncontrolling interest	—		—		—		1,271,995			1,271,995
Total equity	1,937,825		5,677,981		1,314,347		(5,720,333		)	3,209,820
Total liabilities and equity	$	7,680,335	$	7,183,149	$	1,354,874	$	(8,959,133	)	$	7,259,225



	December 31, 2013
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets
Cash and cash equivalents	$	805,505	$	1,013	$	8,145	$	—		$	814,663
Accounts receivable, net	—		326,345		22,873		—			349,218
Intercompany accounts receivable	153,325		982,524		70,107		(1,205,956		)	—
Derivative contracts	—		7,796		14,748		(9,765		)	12,779
Prepaid expenses	—		39,165		88		—			39,253
Other current assets	1,376		24,410		124		—			25,910
Total current assets	960,206		1,381,253		116,085		(1,215,721		)	1,241,823
Property, plant and equipment, net	—		5,125,543		1,182,132		—			6,307,675
Investment in subsidiaries	6,009,603		49,418		—		(6,059,021		)	—
Derivative contracts	—		12,650		9,585		(8,109		)	14,126
Other assets	61,923		65,123		27		(5,902		)	121,171
Total assets	$	7,031,732	$	6,633,987	$	1,307,829	$	(7,288,753	)	$	7,684,795
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued expenses	$	207,572	$	601,074	$	3,842	$	—		$	812,488
Intercompany accounts payable	967,365		181,573		57,018		(1,205,956		)	—
Derivative contracts	—		44,032		—		(9,765		)	34,267
Asset retirement obligations	—		87,063		—		—			87,063
Total current liabilities	1,174,937		913,742		60,860		(1,215,721		)	933,818
Investment in subsidiaries	828,794		152,266		—		(981,060		)	—
Long-term debt	3,200,809		—		—		(5,902		)	3,194,907
Derivative contracts	—		28,673		—		(8,109		)	20,564
Asset retirement obligations	—		337,054		—		—			337,054
Other long-term obligations	1,382		21,443		—		—			22,825
Total liabilities	5,205,922		1,453,178		60,860		(2,210,792		)	4,509,168
Equity
SandRidge Energy, Inc. stockholders’ equity	1,825,810		5,180,809		1,246,969		(6,427,778		)	1,825,810
Noncontrolling interest	—		—		—		1,349,817			1,349,817
Total equity	1,825,810		5,180,809		1,246,969		(5,077,961		)	3,175,627
Total liabilities and equity	$	7,031,732	$	6,633,987	$	1,307,829	$	(7,288,753	)	$	7,684,795

Condensed Consolidating Statements of Operations of SandRidge Energy, Inc. and Wholly Owned Subsidiary Guarantors and Non-Guarantors

Condensed Consolidating Statements of Operations



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Year Ended December 31, 2014
Total revenues	$	—		$	1,341,531		$	217,367		$	(140	)	$	1,558,758
Expenses
Direct operating expenses	—			467,175			16,854			(140		)	483,889
General and administrative	331			118,249			4,285			—			122,865
Depreciation, depletion, amortization and accretion	—			446,149			56,874			—			503,023
Impairment	—			150,125			42,643			—			192,768
Gain on derivative contracts	—			(292,733		)	(41,278		)	—			(334,011		)
Total expenses	331			888,965			79,378			(140		)	968,534
(Loss) income from operations	(331		)	452,566			137,989			—			590,224
Equity earnings from subsidiaries	495,154			38,967			—			(534,121		)	—
Interest (expense) income, net	(244,209		)	100			—			—			(244,109		)
Other income (expense), net	—			3,521			(31		)	—			3,490
Income before income taxes	250,614			495,154			137,958			(534,121		)	349,605
Income tax (benefit) expense	(2,671		)	—			378			—			(2,293		)
Net income	253,285			495,154			137,580			(534,121		)	351,898
Less: net income attributable to noncontrolling interest	—			—			—			98,613			98,613
Net income attributable to SandRidge Energy, Inc.	$	253,285		$	495,154		$	137,580		$	(632,734	)	$	253,285



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Year Ended December 31, 2013
Total revenues	$	—		$	1,675,481		$	308,300		$	(393	)	$	1,983,388
Expenses
Direct operating expenses	—			654,080			29,143			(393		)	682,830
General and administrative	329			323,808			6,288			—			330,425
Depreciation, depletion, amortization and accretion	—			581,435			85,210			—			666,645
Impairment	—			15,038			11,242			—			26,280
Loss on derivative contracts	—			24,702			22,421			—			47,123
Loss on sale of assets	—			291,743			107,343			—			399,086
Total expenses	329			1,890,806			261,647			(393		)	2,152,389
(Loss) income from operations	(329		)	(215,325		)	46,653			—			(169,001		)
Equity earnings from subsidiaries	(195,118		)	3,075			—			192,043			—
Interest (expense) income, net	(271,193		)	959			—			—			(270,234		)
Loss on extinguishment of debt	(82,005		)	—			—			—			(82,005		)
Other income (expense), net	—			16,173			(3,728		)	—			12,445
(Loss) income before income taxes	(548,645		)	(195,118		)	42,925			192,043			(508,795		)
Income tax expense	5,244			—			440			—			5,684
Net (loss) income	(553,889		)	(195,118		)	42,485			192,043			(514,479		)
Less: net income attributable to noncontrolling interest	—			—			—			39,410			39,410
Net (loss) income attributable to SandRidge Energy, Inc.	$	(553,889	)	$	(195,118	)	$	42,485		$	152,633		$	(553,889	)



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Year Ended December 31, 2012
Total revenues	$	—		$	1,638,741		$	404,418		$	(108,517	)	$	1,934,642
Expenses
Direct operating expenses	—			596,028			146,416			(107,095		)	635,349
General and administrative	367			235,102			7,635			(1,422		)	241,682
Depreciation, depletion, amortization and accretion	—			570,786			87,044			—			657,830
Impairment	—			236,671			79,333			—			316,004
Gain on derivative contracts	—			(198,732		)	(42,687		)	—			(241,419		)
Total expenses	367			1,439,855			277,741			(108,517		)	1,609,446
(Loss) income from operations	(367		)	198,886			126,677			—			325,196
Equity earnings from subsidiaries	347,715			20,667			—			(368,382		)	—
Interest (expense) income, net	(303,510		)	725			(564		)	—			(303,349		)
Bargain purchase gain	—			122,696			—			—			122,696
Loss on extinguishment of debt	(3,075		)	—			—			—			(3,075		)
Other income, net	—			4,741			—			—			4,741
Income before income taxes	40,763			347,715			126,113			(368,382		)	146,209
Income tax (benefit) expense	(100,808		)	—			446			—			(100,362		)
Net income	141,571			347,715			125,667			(368,382		)	246,571
Less: net income attributable to noncontrolling interest	—			—			—			105,000			105,000
Net income attributable to SandRidge Energy, Inc.	$	141,571		$	347,715		$	125,667		$	(473,382	)	$	141,571

Condensed Consolidating Statements of Cash Flows of SandRidge Energy, Inc. and Wholly Owned Subsidiary Guarantors and Non-Guarantors

Condensed Consolidating Statements of Cash Flows



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Year Ended December 31, 2014
Net cash provided by operating activities	$	141,751		$	258,498		$	212,427		$	8,438		$	621,114
Cash flows from investing activities
Capital expenditures for property, plant and equipment	—			(1,553,332		)	—			—			(1,553,332		)
Proceeds from sale of assets	—			711,728			2,747			—			714,475
Other	—			(165,551		)	1,140			146,027			(18,384		)
Net cash (used in) provided by investing activities	—			(1,007,155		)	3,887			146,027			(857,241		)
Cash flows from financing activities
Distributions to unitholders	—			—			(234,327		)	40,520			(193,807		)
Repurchase of common stock	(111,827		)	—			—			—			(111,827		)
Intercompany (advances) borrowings, net	(598,051		)	598,056			(5		)	—			—
Other	(66,910		)	150,986			19,260			(194,985		)	(91,649		)
Net cash (used in) provided by financing activities	(776,788		)	749,042			(215,072		)	(154,465		)	(397,283		)
Net (decrease) increase in cash and cash equivalents	(635,037		)	385			1,242			—			(633,410		)
Cash and cash equivalents at beginning of year	805,505			1,013			8,145			—			814,663
Cash and cash equivalents at end of year	$	170,468		$	1,398		$	9,387		$	—		$	181,253



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Year Ended December 31, 2013
Net cash (used in) provided by operating activities	$	(239,026	)	$	852,026		$	254,723		$	907		$	868,630
Cash flows from investing activities
Capital expenditures for property, plant and equipment	—			(1,496,731		)	—			—			(1,496,731		)
Proceeds from sale of assets	—			2,566,742			17,373			—			2,584,115
Other	—			89,606			3,197			(109,831		)	(17,028		)
Net cash provided by investing activities	—			1,159,617			20,570			(109,831		)	1,070,356
Cash flows from financing activities
Repayments of borrowings	(1,115,500		)	—			—			—			(1,115,500		)
Premium on debt redemption	(61,997		)	—			—			—			(61,997		)
Distributions to unitholders	—			—			(299,675		)	93,205			(206,470		)
Dividends paid—preferred	(55,525		)	—			—			—			(55,525		)
Intercompany borrowings (advances), net	2,009,146			(2,018,212		)	9,066			—			—
Other	(31,821		)	6,660			14,845			15,719			5,403
Net cash provided by (used in) financing activities	744,303			(2,011,552		)	(275,764		)	108,924			(1,434,089		)
Net increase (decrease) in cash and cash equivalents	505,277			91			(471		)	—			504,897
Cash and cash equivalents at beginning of year	300,228			922			8,616			—			309,766
Cash and cash equivalents at end of year	$	805,505		$	1,013		$	8,145		$	—		$	814,663



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Year Ended December 31, 2012
Net cash provided by operating activities	$	285,567		$	264,717		$	162,281		$	70,595		$	783,160
Cash flows from investing activities
Capital expenditures for property, plant and equipment	—			(2,112,547		)	(33,825		)	—			(2,146,372		)
Acquisitions, net of cash received	(693,091		)	(147,649		)	(587,086		)	587,086			(840,740		)
Proceeds from sale of assets	129,830			942,675			1,333			(642,671		)	431,167
Other	(61,343		)	278,708			—			(217,365		)	—
Net cash used in investing activities	(624,604		)	(1,038,813		)	(619,578		)	(272,950		)	(2,555,945		)
Cash flows from financing activities
Proceeds from borrowings	1,850,344			—			—			—			1,850,344
Repayments of borrowings	(350,000		)	—			(16,029		)	—			(366,029		)
Proceeds from issuance royalty trust units	—			—			587,086			—			587,086
Proceeds from sale of royalty trust units	—			—			—			139,360			139,360
Distributions to unitholders	—			—			(274,980		)	93,253			(181,727		)
Dividends paid—preferred	(55,525		)	—			—			—			(55,525		)
Intercompany (advances) borrowings, net	(945,448		)	809,099			136,349			—			—
Other	(64,121		)	(34,518		)	30,258			(30,258		)	(98,639		)
Net cash provided by financing activities	435,250			774,581			462,684			202,355			1,874,870
Net increase in cash and cash equivalents	96,213			485			5,387			—			102,085
Cash and cash equivalents at beginning of year	204,015			437			3,229			—			207,681
Cash and cash equivalents at end of year	$	300,228		$	922		$	8,616		$	—		$	309,766