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SandRidge Energy Up 2% - Reports Q3 EPS Beat, Misses on Revenues; Updates FY12 Production Guidance

SandRidge Energy ( SD ) is up 2% to $6.22 in the after-hours session after the company reported Q3 earnings of $0.05 per share, ex one-time items, versus the Capital IQ consensus of $0.00. Revenues were $488 mln, versus the analyst estimate of $527.9 mln.

The company reported record oil production of 4.9 million barrels and total production of 9.5 million barrels of oil equivalent in the quarter.

The company revised its FY12 oil and total production to 17.8 MMBbls and 33.3 MMBoe, respectively. The prior production guidance was 18.2 MMBbls for oil and 33 MMBoe for total production. Looking ahead to FY13, it expects oil and total production of 19.5 MMBbls and 39.2 MMBoe, respectively.

SD trades within a 52-week range of $5.55 - $9.04.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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