XML 64 R29.htm IDEA: XBRL DOCUMENT v3.8.0.1
Quarterly Financial Results (Unaudited)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Results (Unaudited) Quarterly Financial Results (Unaudited)

The Company’s operating results for each quarter of 2017 and 2016 are summarized below (in thousands, except per share data).
 
Successor
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth Quarter
2017
 
 
 
 
 
 
 
Total revenues
$
98,350

 
$
84,851

 
$
80,892

 
$
93,206

Income (loss) from operations(1)(2)
$
50,780

 
$
23,348

 
$
(16,267
)
 
$
(18,230
)
Net income (loss)(1)(2)
$
50,808

 
$
23,499

 
$
(8,485
)
 
$
(18,760
)
Income available (loss applicable) to SandRidge Energy, Inc. common stockholders(1)(2)
$
50,808

 
$
23,499

 
$
(8,485
)
 
$
(18,760
)
Income available (loss applicable) per share to SandRidge Energy, Inc. common stockholders
 
 
 
 
 
 
 
Basic
$
1.90

 
$
0.69

 
$
(0.25
)
 
$
(0.54
)
Diluted
$
1.90

 
$
0.69

 
$
(0.25
)
 
$
(0.54
)
____________________
(1)
Includes (gain) loss on derivative contracts of $(34.2) million, $(23.5) million, $11.7 million and $21.9 million for the first, second, third and fourth quarters, respectively.
(2)
Includes terminated merger costs of $8.2 million for the fourth quarter.

 
Predecessor
 
 
Successor
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
 
Fourth
Quarter
2016
 
 
 
 
 
 
 
 
 
 
Total revenues
$
90,332

 
$
99,421

 
$
104,056

 
$
—

 
 
$
98,456

Loss from operations(1)(2)
$
(273,555
)
 
$
(275,310
)
 
$
(357,338
)
 
$
—

 
 
$
(336,345
)
Net (loss) income(1)(2)(3)
$
(313,226
)
 
$
(515,911
)
 
$
(404,337
)
 
$
2,674,271

 
 
$
(333,982
)
(Loss applicable) income available to SandRidge Energy, Inc. common stockholders(1)(2)(3)
$
(324,107
)
 
$
(521,351
)
 
$
(404,337
)
 
$
2,674,271

 
 
$
(333,982
)
(Loss applicable) income available per share to SandRidge Energy, Inc. common stockholders
 
 
 
 
 
 
 
 
 
 
Basic
$
(0.47
)
 
$
(0.73
)
 
$
(0.56
)
 
$
3.72

 
 
$
(17.61
)
Diluted
$
(0.47
)
 
$
(0.73
)
 
$
(0.56
)
 
$
3.72

 
 
$
(17.61
)
____________________
(1)
Includes impairment of $110.1 million, $253.6 million, $354.5 million and $319.1 million for the first, second and third quarters and Successor 2016 Period, respectively. See Note 10 for further discussion of impairment.
(2)
Includes loss on settlement of contract of $89.1 million and gain on extinguishment of debt of $41.3 million for the first quarter.
(3)
Includes (loss) gain on reorganization items related to the Company’s restructuring under Chapter 11 filings of $(200.9) million, $(42.8) million, and $2.7 billion for the second and third quarters and Predecessor fourth quarter, respectively. See Note 2 for further discussion of reorganization items.