Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2015

Condensed Consolidating Financial Statements Disclosure [Abstract]



	March 31, 2015
	Parent		Guarantors		Non-Guarantors		Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets
Cash and cash equivalents	$	6	$	1,799	$	10,016	$	—		$	11,821
Accounts receivable, net	7		270,150		38,887		(7		)	309,037
Intercompany accounts receivable	989,559		1,349,609		23,729		(2,362,897		)	—
Derivative contracts	—		209,059		25,749		(25,749		)	209,059
Prepaid expenses	—		9,888		5		—			9,893
Other current assets	—		7,299		—		—			7,299
Total current assets	989,572		1,847,804		98,386		(2,388,653		)	547,109
Property, plant and equipment, net	—		4,295,793		1,041,208		—			5,337,001
Investment in subsidiaries	5,668,757		162,892		—		(5,831,649		)	—
Derivative contracts	—		42,347		—		—			42,347
Other assets	118,419		17,582		649		(5,902		)	130,748
Total assets	$	6,776,748	$	6,366,418	$	1,140,243	$	(8,226,204	)	$	6,057,205
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued expenses	$	146,319	$	390,058	$	1,781	$	(7	)	$	538,151
Intercompany accounts payable	1,330,950		995,832		36,115		(2,362,897		)	—
Derivative contracts	—		25,868		—		(25,749		)	119
Deferred tax liability	64,517		—		—		—			64,517
Other current liabilities	—		4,846		—		—			4,846
Total current liabilities	1,541,786		1,416,604		37,896		(2,388,653		)	607,633
Investment in subsidiaries	962,846		171,903		—		(1,134,749		)	—
Long-term debt	3,376,480		—		—		(5,902		)	3,370,578
Asset retirement obligations	—		55,966		—		—			55,966
Other long-term obligations	77		16,034		—		—			16,111
Total liabilities	5,881,189		1,660,507		37,896		(3,529,304		)	4,050,288
Equity
SandRidge Energy, Inc. stockholders’ equity	895,559		4,705,911		1,102,347		(5,808,258		)	895,559
Noncontrolling interest	—		—		—		1,111,358			1,111,358
Total equity	895,559		4,705,911		1,102,347		(4,696,900		)	2,006,917
Total liabilities and equity	$	6,776,748	$	6,366,418	$	1,140,243	$	(8,226,204	)	$	6,057,205



	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

Condensed Consolidating Statements of Operations



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Three Months Ended March 31, 2015
Total revenues	$	—		$	192,520		$	22,796		$	(8	)	$	215,308
Expenses
Direct operating expenses	—			112,117			2,837			(8		)	114,946
General and administrative	56			35,219			874			—			36,149
Depreciation, depletion, amortization and accretion	—			109,853			10,681			—			120,534
Impairment	—			903,235			180,631			—			1,083,866
Gain on derivative contracts	—			(44,109		)	(5,718		)	—			(49,827		)
Gain on sale of assets	—			(1,900		)	(4		)	—			(1,904		)
Total expenses	56			1,114,415			189,301			(8		)	1,303,764
Loss from operations	(56		)	(921,895		)	(166,505		)	—			(1,088,456		)
Equity earnings from subsidiaries	(972,071		)	(49,621		)	—			1,021,692			—
Interest expense	(62,826		)	(16		)	—			—			(62,842		)
Other (expense) income, net	—			(539		)	3			—			(536		)
Loss before income taxes	(1,034,953		)	(972,071		)	(166,502		)	1,021,692			(1,151,834		)
Income tax expense	—			—			40			—			40
Net loss	(1,034,953		)	(972,071		)	(166,542		)	1,021,692			(1,151,874		)
Less: net loss attributable to noncontrolling interest	—			—			—			(116,921		)	(116,921		)
Net loss attributable to SandRidge Energy, Inc.	$	(1,034,953	)	$	(972,071	)	$	(166,542	)	$	1,138,613		$	(1,034,953	)



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Three Months Ended March 31, 2014
Total revenues	$	—		$	379,050		$	64,093		$	(87	)	$	443,056
Expenses
Direct operating expenses	—			138,402			4,810			(87		)	143,125
General and administrative	148			36,947			1,443			—			38,538
Depreciation, depletion, amortization and accretion	—			120,577			15,876			—			136,453
Impairment	—			122,466			42,313			—			164,779
Loss on derivative contracts	—			34,102			8,389			—			42,491
Total expenses	148			452,494			72,831			(87		)	525,386
Loss from operations	(148		)	(73,444		)	(8,738		)	—			(82,330		)
Equity earnings from subsidiaries	(73,985		)	(2,777		)	—			76,762			—
Interest (expense) income	(62,186		)	143			—			—			(62,043		)
Other income, net	—			2,093			1			—			2,094
Loss before income taxes	(136,319		)	(73,985		)	(8,737		)	76,762			(142,279		)
Income tax expense	17			—			110			—			127
Net loss	(136,336		)	(73,985		)	(8,847		)	76,762			(142,406		)
Less: net loss attributable to noncontrolling interest	—			—			—			(6,070		)	(6,070		)
Net loss attributable to SandRidge Energy, Inc.	$	(136,336	)	$	(73,985	)	$	(8,847	)	$	82,832		$	(136,336	)

Condensed Consolidating Statements of Cash Flows



	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Three Months Ended March 31, 2015
Net cash (used in) provided by operating activities	$	(92,504	)	$	133,837		$	25,968		$	22,794		$	90,095
Cash flows from investing activities
Capital expenditures for property, plant, and equipment	—			(377,052		)	—			—			(377,052		)
Other	—			(38,436		)	4			39,448			1,016
Net cash (used in) provided by investing activities	—			(415,488		)	4			39,448			(376,036		)
Cash flows from financing activities
Proceeds from borrowings	420,000			—			—			—			420,000
Repayments of borrowings	(245,000		)	—			—			—			(245,000		)
Intercompany (advances) borrowings, net	(238,183		)	238,337			(154		)	—			—
Other	(14,775		)	43,715			(25,189		)	(62,242		)	(58,491		)
Net cash (used in) provided by financing activities	(77,958		)	282,052			(25,343		)	(62,242		)	116,509
Net (decrease) increase in cash and cash equivalents	(170,462		)	401			629			—			(169,432		)
Cash and cash equivalents at beginning of year	170,468			1,398			9,387			—			181,253
Cash and cash equivalents at end of period	$	6		$	1,799		$	10,016		$	—		$	11,821



	Parent		Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Three Months Ended March 31, 2014
Net cash provided by (used in) operating activities	$	289,883	$	(262,831	)	$	65,742		$	(2,343	)	$	90,451
Cash flows from investing activities
Capital expenditures for property, plant, and equipment	—		(331,016		)	—			—			(331,016		)
Proceeds from sale of assets	—		706,158			—			1,208			707,366
Other	—		29,690			(80		)	(31,962		)	(2,352		)
Net cash provided by (used in) investing activities	—		404,832			(80		)	(30,754		)	373,998
Cash flows from financing activities
Other	75,193		(141,487		)	(66,271		)	33,097			(99,468		)
Net cash provided by (used in) financing activities	75,193		(141,487		)	(66,271		)	33,097			(99,468		)
Net increase (decrease) in cash and cash equivalents	365,076		514			(609		)	—			364,981
Cash and cash equivalents at beginning of year	805,505		1,013			8,145			—			814,663
Cash and cash equivalents at end of period	$	1,170,581	$	1,527		$	7,536		$	—		$	1,179,644