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SandRidge Ramps Up Capex 20% ; Focus on STACK & Mississippian
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[Summary: [Summary: SandRidge reported its Q2 results where it focused on production from its assets and its revived guidances.
Highlights Include: The company raised its production guidance from 14 - 14.7 mmboe to 14.2 - 14.9 mmboe, with oil comprising half of the increase Q2 capex was $57 million - SandRidge is increasing its capex from $210-220 million to $250-260 million, an increase of about 18.6% However, D&C capex will be reduced by about $10 million Reduced Mid-Con D&C by $5 million while increasing laterals drilled in the area from 22 to 34 Drilled its first Major County, Meramec well with a two mile lateral, which hit a 30 day IP of 902 boe/d (81% oil)The company is currently running 3.5 rigs (2.5 in the Meramec and 1 in North Park). As a result of the outperformance of…
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