SandRidge cites improved efficiencies in lifting production guidance

SandRidge Energy (SD) +0.9% AH after Q3 earnings beat estimates and the company raises its full-year production guidance thanks to improved efficiencies in the Mississippi Lime.

The core Mississippian in Oklahoma and Kansas was a key to SD's improved quarter; production averaged 47.9K boe/day, up 59% Y/Y, while reducing the rig count by 15%.

SD ran an average of 22 rigs in the play during Q3, drilling 53 Middle Mississippian wells with average 30-day initial production rates of 363 boe/day.

SD now expects to produce 33.6M boe in 2013, an increase of 300K boe.

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Comments (3)
  • al roman
    , contributor
    Comments (14445) | Send Message
    SD is on the list.
    5 Nov 2013, 06:47 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (10750) | Send Message
    I love it when a plan comes together.
    5 Nov 2013, 09:54 PM Reply Like
  • JMstocks75
    , contributor
    Comments (249) | Send Message
    great news stock drops!!!so funny when rebounds hard
    6 Nov 2013, 02:49 PM Reply Like
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