SandRidge Energy, Inc. (SD)

Stock Price: $13.72 • 10/8/26

SandRidge Energy, Inc. (SD) produces oil, natural gas and natural gas liquids from wells in Oklahoma, Texas and Kansas.

October's EIA outlook raised its oil-price forecasts while projecting softer 2027 natural-gas prices, putting producers' cash discipline in focus. SandRidge's Cherokee drilling lifted second-quarter oil output 22%, and it generated $23.2 million of free cash flow. Two more wells were completed in July, while a proposed $65 million asset purchase could add production; its closing has not been confirmed.

With a market cap of approximately $509 million, SD trades at approximately 6x annualized first-half adjusted earnings, a comparison rather than a forecast. The next quarterly report could highlight drilling returns and clarify the acquisition. June unrestricted cash was $113.3 million with no term or revolving debt, but acquisition spending, weaker commodity prices and plugging obligations could erode the discount.

Opinion: SD appears to offer a potentially undervalued oil-and-gas production opportunity with near-term in-play potential if its next report confirms durable drilling returns and disciplined acquisition spending.