SandRidge Energy Inc., Oklahoma City, had net income of $28.6 million in third-quarter 2021 compared to net income of $16.3 million in the prior quarter. Net cash provided by operating activities was $33.1 million.
After adjusting for certain items, the company's adjusted net income was $29.4 million, operating cash flow was $35.2 million, and adjusted EBITDA was $33.5 million for the quarter.
The operator increased its third-quarter net cash by $28.4 million quarter-over-quarter to $99 million.
Total third-quarter net production was 18,700 boe/d (12.7% oil, 32.1% NGLs, 55.2% natural gas) compared to 19,000 boe/d in the prior quarter.
As of Sept. 30, SandRidge returned 106 wells to production that were previously curtailed due to the 2020 commodity price downturn.
In early September, the operator repaid its $20 million term loan in full and terminated its existing credit facility. As of Sept. 30, the company had no remaining term debt or revolving debt obligations.