Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
−Removed: PRICE RANGE OF COMMON STOCK
−Removed: Since October 4, 2016, the Successor Company’s common stock has been listed on the New York Stock Exchange (“NYSE”) under the symbol “SD.” During the period from January 7, 2016 through October 3, 2016, our common stock was quoted for public trading on the Pink Sheets quotations system, an over-the-counter market, under the symbol “SDOCQ.PK.” The over-the-counter market quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.
−Removed: Prior to January 7, 2016, the Predecessor Company’s common stock was also listed on the NYSE under the symbol “SD.”
−Removed: On February 21, 2020, there were 314 record holders of the Company’s common stock.
−Removed: We have neither declared nor paid any cash dividends on our common stock, and we do not anticipate declaring any dividends in the foreseeable future.
−Removed: We expect to retain cash for the operation and expansion of our business, including exploration, development and production activities.
−Removed: In addition, the terms of our credit facility restrict our ability to pay dividends.
−Removed: If our dividend policy changes in the future, our ability to pay dividends would be subject to these restrictions and then-existing conditions, including results of operations, financial condition, contractual obligations, capital requirements, business prospects and other factors deemed relevant by the Company’s board of directors.
−Removed: PERFORMANCE GRAPH
−Removed: The following graph compares the cumulative total return to stockholders on SandRidge common stock relative to the cumulative total returns of the S&P Oil and Gas Exploration and Production Index and the S&P 500 Index from October 4, 2016, the date of the Company's emergence from Chapter 11, through December 31, 2019.
−Removed: The graph assumes that the value of the investment in the Company’s common stock and in each of the indexes was $100.00 on October 4, 2016.
−Removed: The performance graph above is furnished and not filed for purposes of Section 18 of the Exchange Act and will not be incorporated by reference into any registration statement filed under the Securities Act unless specifically identified therein as being incorporated therein by reference.
−Removed: The performance graph is not soliciting material subject to Regulation 14A.
+Added: Since October 4, 2016, the Successor Company’s common stock has been listed on the New York Stock Exchange (“NYSE”) under the symbol “SD.”
+Added: On February 25, 2021, there were 343 record holders of the Company’s common stock, which does not reflect persons or entities that hold the common stock in nominee or “street” name through various brokerage firms and financial institutions.
Issuer Purchases of Equity Securities
−Removed: The following table presents a summary of share repurchases made during the three-month period ended December 31, 2019.
−Removed: Total Number of Shares Purchased(1) Average Price
−Removed: Paid per Share
−Removed: Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
−Removed: (In millions)
−Removed: October 1, 2019 - October 31, 2019 — $ — N/A N/A
−Removed: November 1, 2019 - November 30, 2019 — $ — N/A N/A
−Removed: December 1, 2019 - December 31, 2019 1,501 $ 4.08 N/A N/A
−Removed: ____________________
−Removed: (1) Includes shares of common stock tendered by employees in order to satisfy tax withholding requirements upon vesting of their stock awards.
Selected Financial Data
−Removed: The following table sets forth, as of the dates and for the periods indicated, our selected financial information, which is derived from our audited consolidated financial statements for the respective periods.
−Removed: The information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 7 of this report and our consolidated financial statements and notes thereto contained in “Financial Statements and Supplementary Data” in Item 8 of this report.
−Removed: The following information is not necessarily indicative of future results.
−Removed: Successor(1) Predecessor(1)
−Removed: Year Ended December 31, Period from October 2, 2016 through December 31, Period from January 1, 2016 through October 1, Year Ended December 31,
−Removed: 2019 2018 2017 2016 2016 2015
−Removed: Statement of Operations Data
−Removed: (in thousands, except per share data)
−Removed: Revenues $ 266,845 $ 349,395 $ 357,299 $ 98,456 $ 293,809 $ 768,709
−Removed: Total operating expenses(2) 713,612 359,770 317,668 434,801 1,200,012 5,411,387
−Removed: (Loss) income from operations (446,767) (10,375) 39,631 (336,345) (906,203) (4,642,678)
−Removed: Other (expense) income
−Removed: Interest expense (2,974) (2,787) (3,868) (372) (126,099) (321,421)
−Removed: Gain on extinguishment of debt — 1,151 — — 41,179 641,131
−Removed: Gain on reorganization items, net — — — — 2,430,599 —
−Removed: Other income, net 436 2,865 2,550 2,744 1,332 2,040
−Removed: Total other income (expense) (2,538) 1,229 (1,318) 2,372 2,347,011 321,750
−Removed: (Loss) income before income taxes (449,305) (9,146) 38,313 (333,973) 1,440,808 (4,320,928)
−Removed: Income tax (benefit) expense — (71) (8,749) 9 11 123
−Removed: Net (loss) income (449,305) (9,075) 47,062 (333,982) 1,440,797 (4,321,051)
−Removed: net loss attributable to noncontrolling interest(3)
−Removed: — — — — — (623,506)
−Removed: Net (loss) income attributable to SandRidge Energy, Inc.
−Removed: (449,305) (9,075) 47,062 (333,982) 1,440,797 (3,697,545)
−Removed: Preferred stock dividends — — — — 16,321 37,950
−Removed: (Loss applicable) income available to SandRidge Energy, Inc.
−Removed: common stockholders
−Removed: $ (449,305) $ (9,075) $ 47,062 $ (333,982) $ 1,424,476 $ (3,735,495)
−Removed: (Loss) earnings per share
−Removed: Basic $ (12.68) $ (0.26) $ 1.45 $ (17.61) $ 2.01 $ (7.16)
−Removed: Diluted $ (12.68) $ (0.26) $ 1.44 $ (17.61) $ 2.01 $ (7.16)
−Removed: ____________________
−Removed: (1) Upon emergence from Chapter 11, the Company elected to apply fresh start accounting effective October 1, 2016, to coincide with the timing of the normal fourth quarter reporting period, which resulted in SandRidge becoming a new entity for financial reporting purposes.
−Removed: As a result of the application of fresh start accounting and the effects of the implementation of the reorganization plan, the financial statements after October 1, 2016 are not comparable with the financial statements prior to that date.
−Removed: (2) Includes full cost ceiling limitation impairments of $409.6 million, $319.1 million, $657.4 million, and $4.5 billion for the year ended December 31, 2019, the Successor 2016 Period, the Predecessor 2016 Period and the year ended December 31, 2015, respectively.
−Removed: No full cost ceiling limitation impairments were recorded for the years ended December 31, 2018 and 2017.
−Removed: (3) Information presented for the year ended December 31, 2015, includes 100% of the interests and activities of the Royalty Trusts, including amounts attributable to noncontrolling interest.
−Removed: On January 1, 2016, we adopted the provisions of ASU 2015-02, “Amendments to the Consolidation Analysis,” which led to the conclusion that the Royalty Trusts were no longer variable interest entities, and a cumulative-effect adjustment was made to equity to remove the effect of any previously recorded noncontrolling interest.
−Removed: Prior periods were not restated.
−Removed: For the 2016, 2017, and 2018, and 2019 periods, we have proportionately consolidated only our share of each Royalty Trust.
−Removed: Successor Predecessor
−Removed: As of December 31, As of December 31,
−Removed: 2019 2018 2017 2016 2015
−Removed: Balance Sheet Data (in thousands)
−Removed: Cash and cash equivalents $ 4,275 $ 17,660 $ 99,143 $ 121,231 $ 435,588
−Removed: Property, plant and equipment, net $ 567,943 $ 949,949 $ 923,240 $ 817,932 $ 2,234,702
−Removed: Total assets(1) $ 607,689 $ 1,024,338 $ 1,119,627 $ 1,081,392 $ 2,922,027
−Removed: Total debt(1) $ 57,500 $ — $ 37,502 $ 305,308 $ 3,562,378
−Removed: Total stockholders’ equity (deficit) $ 402,452 $ 847,721 $ 839,940 $ 512,917 $ (1,187,733)
−Removed: Total liabilities and stockholders’ equity (deficit) $ 607,689 $ 1,024,338 $ 1,119,627 $ 1,081,392 $ 2,922,027
−Removed: ____________________
−Removed: (1) Reflects the reclassification of certain debt issuance costs from other assets to long-term debt of $69.1 million for the year ended December 31, 2015, as a result of the retrospective adoption of ASU 2015-03 on January 1, 2016.
+Added: Not Applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.