Segment Reporting

12 Months Ended

Dec. 31, 2025

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, 2025, 2024 and 2023. The CODM regularly reviews total assets, which were $644.0 million and $581.5 million as of December 31, 2025 and 2024, respectively.

The following table presents selected financial information with respect to the Company’s single operating segment (in thousands):


	Year Ended December 31,
	2025		2024		2023
Revenues
Oil	$	77,270	$	68,231	$	78,174
Natural gas	41,587		21,397		34,941
NGL	37,500		35,662		35,526
Total revenues	156,357		125,290		148,641
Expenses
Lease operating expenses	36,191		40,012		41,862
Production, ad valorem, and other taxes	9,846		6,780		10,870
Depreciation and depletion—oil and natural gas	36,439		25,976		15,657
Depreciation and amortization—other	6,433		6,503		6,518
General and administrative	13,201		11,695		10,735
Restructuring expenses	1,060		474		406
Employee termination benefits	—		—		19
(Gain) loss on derivative contracts	(7,763)		(748)		(1,447)
Other operating (income) expense	—		1,372		(157)
Total expenses	95,407		92,064		84,463
Income (loss) from operations	60,950		33,226		64,178
Other income (expense)
Interest income (expense), net	3,687		7,744		10,552
Other income (expense), net	31		(216)		87
Total other income (expense)	3,718		7,528		10,639
Income (loss) before income taxes	64,668		40,754		74,817
Income tax (benefit)	(5,535)		(22,232)		13,960
Net income (loss)	$	70,203	$	62,986	$	60,857

Capital expenditures, including acquisitions	$	77,500	$	156,472	$	33,664

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

SANDRIDGE ENERGY INC 10-K