Segment Reporting

The Company operates as one operating segment, which is engaged in the acquisition, development, and production of oil, natural gas, and NGL in the U.S. Mid-Continent. The Company's chief operating decision maker ("CODM") is its Chief Executive Officer who reviews financial information on a consolidated basis and uses net income (loss) to make key operating decisions and assess financial performance. The CODM considers significant segment expenses to be those presented in the below table. Interest expense was not significant for the years ended December 31, 2024, 2023 or 2022. The CODM regularly reviews total assets which were $581.5 million and $574.2 million as of December 31, 2024 and 2023, respectively.

The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Revenues
Oil	$	68,231	$	78,174	$	87,528
Natural gas	21,397		34,941		103,067
NGL	35,662		35,526		63,663
Total revenues	125,290		148,641		254,258
Expenses
Lease operating expenses	40,012		41,862		41,286
Production, ad valorem, and other taxes	6,780		10,870		15,880
Depreciation and depletion—oil and natural gas	25,976		15,657		11,542
Depreciation and amortization—other	6,503		6,518		6,342
General and administrative	11,695		10,735		9,449
Restructuring expenses	474		406		382
Employee termination benefits	—		19		—
(Gain) loss on derivative contracts	(748)		(1,447)		(5,975)
Other operating (income) expense	1,372		(157)		(99)
Total expenses	92,064		84,463		78,807
Income (loss) from operations	33,226		64,178		175,451
Other income (expense)
Interest income (expense), net	7,744		10,552		1,810
Other income (expense), net	(216)		87		378
Total other income (expense)	7,528		10,639		2,188
Income (loss) before income taxes	40,754		74,817		177,639
Income tax (benefit)	(22,232)		13,960		(64,529)
Net income (loss)	$	62,986	$	60,857	$	242,168

Capital expenditures, including acquisitions	$	156,472	$	33,664	$	50,639

Historical Timeline

Fiscal Year	Filed
2024	Mar 11, 2025	Showing above
2015	Mar 30, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

SANDRIDGE ENERGY INC Segments Disclosure

Historical Timeline

About Segments Disclosures

Other Available Disclosures