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SandRidge Cuts MidCon Well Costs; Talks 30 Day IPs
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SandRidge Energy, Inc. announced financial and operational results for the quarter ended June 30, 2015.
Strong second quarter production rates and drilling results supported an increase in the midpoint of production volume guidance for the 2015 calendar year. New guidance introduced today estimates 2015 production to be between 29.0 and 30.5 MMBoe (vs. prior range of 28.0 to 30.5 MMBoe).
James Bennett, SandRidge's Chief Executive Officer and President, said: "With the highgrading of our drilling program in 2015, production has outpaced expectations and we are raising the lower end of our production guidance by one million barrels, with a midpoint now at 29.8 MMBoe. Further, our per lateral well costs have decreased by 20% year to date, including $290,000 of efficiency gains, which…
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