SandRidge Energy Posts Deeper Loss in Q1

SandRidge Energy results for the company's Q1 have been released. For the quarter, revenue grew to $512 million, up from the $382 million in the same period the previous year. Attributable net loss, on the other hand, landed at $493 million ($1.03 per diluted share), more than double Q1 2012's red figure of $232 million ($0.58).

On an adjusted basis, those bottom-line numbers were in the black at $2.0 million ($0.00 per share) and $21.2 million ($0.04), respectively.

On average, analysts expected $477 million in revenue and a per-share loss of $0.05.


In operational terms, SandRidge operated an average of 38 rigs during the quarter and drilled 179 wells. Its production of oil rose by 30% on a year-over-year basis, while that for natural gas advanced 74%.

The article SandRidge Energy Posts Deeper Loss in Q1 originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in SandRidge Energy, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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