SandRidge Energy (SD) 10-Q 5 Nov 09 2009 Q3 Quarterly report Financial data

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Thousands	9 Months Ended Sep. 30, 2009	9 Months Ended Dec. 31, 2008
Current assets:
Cash and cash equivalents	$14,642	$636
Accounts receivable, net:
Trade	80,328	102,746
Related parties	257	6,327
Derivative contracts	129,453	201,111
Inventories	3,405	3,686
Other current assets	32,358	41,407
Total current assets	260,443	355,913
Natural gas and crude oil properties, using full cost method of accounting
Proved	5,064,490	4,676,072
Unproved	229,687	215,698
Less: accumulated depreciation, depletion and impairment	(3,792,437)	(2,369,840)
Natural gas and crude oil properties, using full cost method, net, total	1,501,740	2,521,930
Other property, plant and equipment, net	462,487	653,629
Derivative contracts	0	45,537
Investments	9,158	6,088
Restricted deposits	32,872	32,843
Other assets	44,268	39,118
Total assets	2,310,968	3,655,058
Current liabilities:
Current maturities of long-term debt	13,925	16,532
Accounts payable and accrued expenses:
Trade	230,506	366,337
Related parties	155	230
Derivative contracts	7,223	5,106
Asset retirement obligation	2,077	275
Billings in excess of costs incurred	5,141	14,144
Total current liabilities	259,027	402,624
Long-term debt	2,126,286	2,358,784
Other long-term obligations	6,967	11,963
Derivative contracts	21,640	3,639
Asset retirement obligation	88,033	84,497
Total liabilities	2,501,953	2,861,507
Commitments and contingencies (Note 13)	-	-
SandRidge Energy, Inc. stockholders' equity:
Preferred stock, $0.001 par value, 50,000 shares authorized: 8.5% Convertible perpetual preferred stock; 2,650 shares issued and outstanding at September 30, 2009 and no shares issued and outstanding in 2008; aggregate liquidation preference of $265,000 at September 30, 2009	3	0
Common stock, $0.001 par value, 400,000 shares authorized; 184,986 issued and 183,524 outstanding at September 30, 2009 and 167,372 issued and 166,046 outstanding at December 31, 2008	178	163
Additional paid-in capital	2,537,690	2,170,986
Treasury stock, at cost	(20,427)	(19,332)
Accumulated deficit	(2,708,459)	(1,358,296)
Total SandRidge Energy, Inc. stockholders' (deficit) equity	(191,015)	793,521
Noncontrolling interest	30	30
Total (deficit) equity	(190,985)	793,551
Total liabilities and equity	$2,310,968	$3,655,058

1_Statement Of Financial Positi

Statement Of Financial Position Classified (Parenthetical) (USD $)
In Thousands	Sep. 30, 2009	Dec. 31, 2008
Preferred stock, par value	0.001	0.001
Preferred stock, shares authorized	50,000	50,000
8.5% Convertible perpetual preferred stock, shares issued	2,650	0
8.5% Convertible perpetual preferred stock, shares outstanding	2,650	0
8.5% Convertible perpetual preferred stock, aggregate liquidation preference	$265,000	$0
Common stock, par value	0.001	0.001
Common stock, shares authorized	400,000	400,000
Common stock, issued	184,986	167,372
Common stock, outstanding	183,524	166,046

Statement Of Income Alternative

Statement Of Income Alternative (USD $)
In Thousands, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Revenues:
Natural gas and crude oil	$104,348	$259,141	$328,628	$756,762
Drilling and services	5,878	12,054	17,449	36,345
Midstream and marketing	16,453	58,343	62,051	174,240
Other	8,176	4,485	19,839	13,812
Total revenues	134,855	334,023	427,967	981,159
Expenses:
Production	41,350	41,070	128,379	115,512
Production taxes	1,069	6,717	3,153	29,456
Drilling and services	9,676	8,191	21,697	20,426
Midstream and marketing	14,889	51,908	56,702	157,059
Depreciation, depletion and amortization - natural gas and crude oil	33,060	71,964	127,503	209,296
Depreciation, depletion and amortization - other	12,092	17,597	38,851	51,342
Impairment	0	0	1,304,418	0
General and administrative	25,006	29,235	77,123	76,432
Loss (gain) on derivative contracts	47,933	(292,526)	(139,722)	4,086
Loss (gain) on sale of assets	9	(1,420)	26,359	(9,131)
Total expenses	185,084	(67,264)	1,644,463	654,478
(Loss) income from operations	(50,229)	401,287	(1,216,496)	326,681
Other income (expense):
Interest income	89	923	287	3,068
Interest expense	(53,201)	(41,026)	(136,368)	(88,421)
Income (loss) from equity investments	593	(60)	1,027	1,355
Other (expense) income, net	(1,144)	(83)	100	856
Total other (expense) income	(53,663)	(40,246)	(134,954)	(83,142)
(Loss) income before income tax (benefit) expense	(103,892)	361,041	(1,351,450)	243,539
Income tax (benefit) expense	(2,580)	130,693	(4,114)	89,308
Net (loss) income	(101,312)	230,348	(1,347,336)	154,231
Less: net income attributable to noncontrolling interest	4	2	11	853
Net (loss) income (applicable) attributable to SandRidge Energy, Inc.	(101,316)	230,346	(1,347,347)	153,378
Preferred stock dividends and accretion	2,816	0	2,816	16,232
(Loss) income (applicable) available to SandRidge Energy, Inc. common stockholders	($104,132)	$230,346	($1,350,163)	$137,146
(Loss) income per share (applicable) available to SandRidge Energy, Inc. common stockholders:
Basic	-0.58	1.41	-7.85	0.9
Diluted	-0.58	1.4	-7.85	0.89
Weighted average number of SandRidge Energy, Inc. common shares outstanding:
Basic	178,069	163,020	171,902	153,125
Diluted	178,069	164,554	171,902	154,489

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Thousands		8.5% Convertible Perpetual Preferred Stock Amount		Common Stock Amount	Additional Paid-In Capital	Treasury Stock	Accumulated Deficit	Noncontrolling Interest	Total
Beginning Balance at Dec. 31, 2008		$0		$163	$2,170,986	($19,332)	($1,358,296)	$30	$793,551
Beginning Balance at Dec. 31, 2008	0		166,046
Distributions to noncontrolling interest owners								(11)	(11)
Issuance of 8.5% convertible perpetual preferred stock	2,650
Issuance of 8.5% convertible perpetual preferred stock		3			243,286				243,289
Issuance of common stock			14,480
Issuance of common stock				15	107,588				107,603
Purchase of treasury stock						(1,095)			(1,095)
Stock-based compensation					19,694				19,694
Stock-based compensation excess tax benefit					(3,864)				(3,864)
Issuance of restricted stock awards, net of cancellations			2,998
8.5% Convertible perpetual preferred stock dividends							(2,816)		(2,816)
Net (loss) income							(1,347,347)	11	(1,347,336)
Ending Balance at Sep. 30, 2009	2,650		183,524
Ending Balance at Sep. 30, 2009		$3		$178	$2,537,690	($20,427)	($2,708,459)	$30	($190,985)

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect (USD $)
In Thousands	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	($1,347,336)	$154,231
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Provision for doubtful accounts	62	1,623
Depreciation, depletion and amortization	166,354	260,638
Impairment	1,304,418	0
Debt costs amortization	6,037	4,026
Deferred income taxes	4	83,225
Unrealized loss (gain) on derivative contracts	137,313	(81,603)
Loss (gain) on sale of assets	26,359	(9,131)
Investment income - restricted deposits	(29)	(304)
Income from equity investments	(1,027)	(1,355)
Stock-based compensation	16,526	14,283
Stock-based compensation excess tax benefit	(3,864)	0
Changes in operating assets and liabilities	(31,597)	108,735
Net cash provided by operating activities	273,220	534,368
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures for property, plant and equipment	(628,153)	(1,609,355)
Proceeds from sale of assets	263,630	158,534
Loans to unconsolidated investees	0	(5,500)
Fundings of restricted deposits	0	(781)
Net cash used in investing activities	(364,523)	(1,457,102)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings	1,638,365	1,768,722
Repayments of borrowings	(1,874,046)	(864,100)
Dividends paid - preferred	0	(17,552)
Noncontrolling interest distributions	(11)	(5,497)
Proceeds from issuance of 8.5% convertible perpetual preferred stock	243,289	0
Proceeds from issuance of common stock	107,603	0
Purchase of treasury stock	(1,095)	(3,536)
Debt issuance costs	(8,796)	(17,540)
Net cash provided by financing activities	105,309	860,497
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	14,006	(62,237)
CASH AND CASH EQUIVALENTS, beginning of period	636	63,135
CASH AND CASH EQUIVALENTS, end of period	14,642	898
Supplemental Disclosure of Noncash Investing and Financing Activities:
Change in accrued capital expenditures	(85,952)	0
8.5% Convertible perpetual preferred stock dividends payable	2,816	0
Accretion on redeemable convertible preferred stock	$0	$7,636

1. Basis of Presentation

1. Basis of Presentation
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
1. Basis of Presentation	1.Basis of Presentation Nature of Business.SandRidge Energy, Inc. (including its subsidiaries, collectively, the Company or SandRidge) is an independent natural gas and crude oil company concentrating on exploration, development and production activities. The Company also owns and operates natural gas gathering and treating facilities and carbon dioxide (CO2) treating and transportation facilities and has marketing and tertiary oil recovery operations. In addition, Lariat Services, Inc. (Lariat), a wholly owned subsidiary of the Company, owns and operates drilling rigs and a related oil field services business. The Companys primary exploration, development and production areas are concentrated in West Texas. The Company also operates interests in the Mid-Continent, the Cotton Valley Trend in East Texas, the Gulf Coast and the Gulf of Mexico. Interim Financial Statements.The accompanying condensed consolidated financial statements as of December31, 2008 have been derived from the audited financial statements contained in the 2008 Form10-K. The unaudited interim condensed consolidated financial statements have been prepared by the Company in accordance with the accounting policies stated in the audited consolidated financial statements contained in the 2008 Form10-K. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted, although the Company believes that the disclosures contained herein are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to state fairly the information in the Companys unaudited condensed consolidated financial statements have been included. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the 2008 Form10-K.

2. Significant Accounting Polic

2. Significant Accounting Policies
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
2. Significant Accounting Policies	2.Significant Accounting Policies For a description of the Companys significant accounting policies, refer to Note1 of the consolidated financial statements included in the 2008 Form10-K. Reclassifications.Certain reclassifications have been made to prior period financial statements to conform to the current period presentation. Recent Accounting Pronouncements.In December 2007, the Financial Accounting Standards Board (FASB) issued new guidance establishing accounting and reporting standards for ownership interests in subsidiaries held by parties other than the parent, the amount of consolidated net income attributable to the parent and to the noncontrolling interest, changes in a parents ownership interest and the valuation of retained noncontrolling equity investments when a subsidiary is deconsolidated. This new guidance, included in the Consolidation Topic of the FASB Accounting Standards Codification (ASC), also establishes disclosure requirements to clearly identify and distinguish between the interests of the parent and the interests of the noncontrolling owners. Effective January1, 2009, the Company implemented the new guidance, which resulted in changes to the presentation for noncontrolling interests. This implementation did not have a material impact on the Companys financial position or results of operations. All historical periods presented in the accompanying condensed consolidated financial statements reflect these changes to the presentation for noncontrolling interests. See Note 15. In February 2008, the FASB issued guidance that delayed the effective date of certain requirements under the Fair Value Measurements and Disclosures Topic of the ASC to fiscal years beginning after November15, 2008 for all nonfinancial assets and liabilities except those recognized or disclosed at fair value in the financial statements on a recurring basis, at least annually. Effective January1, 2009, the Company began following the Fair Value Measurements and Disclosures Topic of the ASC for all nonfinancial assets and liabilities. This implementation did not have a material impact on the Companys financial position or results of operations. In March 2008, the FASB issued new guidance regarding disclosures in the Derivatives and Hedging Topic of the ASC (Derivative and Hedging Topic), which requires expanded disclosure to provide greater transparency about (i)how and why an entity uses derivative instruments, (ii)how derivative instruments and related hedge items are accounted for under the Derivatives and Hedging Topic, and (iii)how derivative instruments and related hedged items affect an entitys financial position, results of operations and cash flows. The Derivative and Hedging Topic requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments and disclosures about credit risk-related contingent features in derivative agreements. The new guidance regarding disclosures in the Derivative and Hedging Topic became effective for the Company on January1, 2009 and did not have a material impact on its financia

3. Fair Value Measurements

3. Fair Value Measurements
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
3. Fair Value Measurements	3.Fair Value Measurements The Company applies the guidance provided under the Fair Value Measurements and Disclosures Topic of the ASC to its financial assets and liabilities and nonfinancial liabilities that are measured and reported on a fair value basis. Pursuant to this guidance, the Company has classified and disclosed its fair value measurements using the following levels of the fair value hierarchy: Level1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3: Measurement based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable for objective sources (i.e., supported by little or no market activity). Assets and liabilities that are measured at fair value are classified based on the lowest level of input that is significant to the fair value measurement. The Companys assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels as described in the Fair Value Measurements and Disclosures Topic of the ASC. The determination of the fair values, stated below, takes into account the market for the Companys financial assets and liabilities, the associated credit risk and other factors as required by the Fair Value Measurements and Disclosures Topic of the ASC. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Fair Value of Derivative Contracts The Company has classified its derivative contracts into one of the three levels of the fair value hierarchy based upon the data relied upon to determine the fair value. The fair values of the Companys natural gas and crude oil swaps and interest rate swaps are based upon quotes obtained from counterparties to the derivative contracts. The Company reviews other readily available market prices for its derivative contracts as there is an active market for these contracts. However, the Company does not have access to the specific valuation models used by its counterparties or other market participants. Included in these models are discount factors that the Company must estimate in its calculation. Additionally, the Company applies a value weighted average credit default risk rating factor for its counterparties in determining the fair value of its derivative contracts. Based on the inputs for the fair value measurement, the Company classified its derivative contract assets and liabilities as Level3. The following table summarizes the Companys financial assets and liabilities measured at fair value on a recurring basis by the fair value hierarchy as of September30, 2009 (in thousands): Fa

4. Property, Plant and Equipmen

4. Property, Plant and Equipment
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
4. Property, Plant and Equipment	4.Property, Plant and Equipment Property, plant and equipment consist of the following (in thousands): September30, 2009 December31, 2008 Natural gas and crude oil properties: Proved $ 5,064,490 $ 4,676,072 Unproved 229,687 215,698 Total natural gas and crude oil properties 5,294,177 4,891,770 Less accumulated depreciation, depletion and impairment(1) (3,792,437 ) (2,369,840 ) Net natural gas and crude oil properties capitalized costs 1,501,740 2,521,930 Land 13,937 11,250 Non natural gas and crude oil equipment(2) 581,436 764,792 Buildings and structures 74,575 71,859 Total 669,948 847,901 Less accumulated depreciation, depletion and amortization (207,461 ) (194,272 ) Net capitalized costs 462,487 653,629 Total property, plant and equipment, net $ 1,964,227 $ 3,175,559 (1) Includes cumulative full cost ceiling limitation impairment charges of $3,159.4million and $1,855.0million at September30, 2009 and December31, 2008, respectively. See Note 5. (2) Includes capitalized interest of approximately $3.8 million at both September30, 2009 and December31, 2008. In 2009, the estimate of asset lives of certain drilling, oil field services, midstream and other assets were changed to align with industry average lives for similar assets. Sale of Midstream Assets.In June 2009, the Company completed the sale of its gathering and compression assets located in the Pion Field, part of the West Texas Overthrust (WTO) located in Pecos and Terrell counties, Texas. Net proceeds to the Company were approximately $197.5million, resulting in a loss of approximately $26.5million. In conjunction with the sale, the Company entered into a gas gathering agreement and an operations and maintenance agreement. Under the gas gathering agreement, the Company has dedicated its Pion Field acreage for priority gathering services for a period of twenty years and the Company will pay a fee that was negotiated at arms length for such services. Pursuant to the operations and maintenance agreement, the Company will operate and maintain the gathering system assets sold for a period of twenty years unless the Company or the buyer of the assets chooses to terminate the agreement. Sale of East Texas Deep Rights.In June 2009, the Company completed the sale of its drilling rights in East Texas below the depth of the Cotton Valley formation for net proceeds of approximately $55.9million, subject to certain post-closing adjustments. In October 2009, the Company received an additional $1.3 million in proceeds as a result of the post-closing adjustments. The sale of the drilling rights was accounted for as an adjustment to the full cost pool with no gain or loss recognized by the Company.

5. Impairment

5. Impairment
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
5. Impairment	5.Impairment Under the full cost method of accounting, the net book value of natural gas and crude oil properties, less related deferred income taxes, may not exceed a calculated ceiling. The ceiling limitation is the discounted estimated after-tax future net revenue from proved natural gas and crude oil properties, excluding future cash outflows associated with settling asset retirement obligations included in the net book value of natural gas and crude oil properties, plus the cost of properties not subject to amortization. In calculating future net revenues, prices and costs used are those as of the end of the appropriate period. These prices are not changed except where different prices are fixed and determinable from applicable contracts for the remaining term of those contracts. The Company has entered into various commodity derivative contracts; however, these derivative contracts are not accounted for as cash flow hedges. Accordingly, the effect of these derivative contracts has not been considered in calculating the full cost ceiling limitation as of September30, 2009. The net book value, less related deferred tax liabilities, is compared to the ceiling limitation on both a quarterly and annual basis. Any excess of the net book value, less related deferred taxes, is written off as an expense. An expense recorded in one period may not be reversed in a subsequent period even though higher natural gas and crude oil prices may have increased the ceiling limitation in the subsequent period. During the first quarter of 2009, the Company reduced the carrying value of its natural gas and crude oil properties by $1,304.4million due to the full cost ceiling limitation. As the full cost ceiling exceeded the net capitalized costs at June30, 2009 and September30, 2009, there was no such reduction of the Companys carrying value of its natural gas and crude oil properties during the second or third quarter of 2009.

6. Billings in Excess of Costs

6. Billings in Excess of Costs Incurred
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
6. Billings in Excess of Costs Incurred	6.Billings in Excess of Costs Incurred In June 2008, the Company entered into an agreement with a subsidiary of Occidental Petroleum Corporation (Occidental) to construct and sell a CO2 treating plant in Pecos County, Texas (the Century Plant) and associated compression and pipeline facilities for $800.0million. The Company will construct the Century Plant and Occidental will pay a minimum of 100% of the contract price, plus any subsequent agreed-upon revisions, to the Company through periodic cost reimbursements based upon the percentage of the project completed by the Company. Upon start-up, the Century Plant will be owned and operated by Occidental for the purpose of separating and removing CO2 from natural gas delivered by the Company. Pursuant to a thirty-year treating agreement executed simultaneously with the construction agreement, Occidental will remove CO2 from the Companys delivered production volumes. The Company will retain all methane gas from the Century Plant. The Company accounts for construction of the Century Plant using the completed-contract method, under which contract revenues and costs are recognized when work under the contract is completed or substantially completed. In the interim, costs incurred on and billings related to contracts in process are accumulated on the balance sheet. Provisions for a contract loss will be recorded, as appropriate, when it is determined that a loss will be incurred. Billings in excess of costs incurred were $5.1million and $14.1million and were reported as a current liability in the accompanying condensed consolidated balance sheets at September30, 2009 and December31, 2008, respectively.

7. Asset Retirement Obligation

7. Asset Retirement Obligation
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
7. Asset Retirement Obligation	7.Asset Retirement Obligation The table below provides a reconciliation of the beginning and ending aggregate carrying amounts of the asset retirement obligation for the period from December31, 2008 to September30, 2009 (in thousands). Asset retirement obligation, December31, 2008 $ 84,772 Liability incurred in current period 2,689 Revisions in estimated cash flows (162 ) Liability settled in current period (2,505 ) Accretion of discount expense 5,316 Asset retirement obligation, September30, 2009 90,110 Less: Current portion 2,077 Asset retirement obligation, net of current $ 88,033

8. Long-Term Debt

8. Long-Term Debt
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
8. Long-Term Debt	8.Long-Term Debt Long-term debt consists of the following (in thousands): September30, 2009 December31, 2008 Senior credit facility $ $ 573,457 Other notes payable: Drilling rig fleet and related crude oil field services equipment 21,410 33,030 Mortgage 18,174 18,829 Senior Floating Rate Notes due 2014 350,000 350,000 8.625%Senior Notes due 2015 650,000 650,000 9.875%Senior Notes due 2016, net of $14,873 discount 350,627 8.0%Senior Notes due 2018 750,000 750,000 Total debt 2,140,211 2,375,316 Less: Current maturities of long-term debt 13,925 16,532 Long-term debt $ 2,126,286 $ 2,358,784 For the three and nine months ended September30, 2009, interest payments, including net amounts from current period settlements of the Companys interest rate swap agreements (described below), were $8.8 million and $87.9 million, respectively. For the three and nine months ended September30, 2008, interest payments, net of amounts capitalized, were $9.4 million and $60.2 million, respectively. Senior Credit Facility.The amount the Company can borrow under its senior secured revolving credit facility (the senior credit facility) is limited to a borrowing base, which was $985.4million at September30, 2009. The senior credit facility matures on November21, 2011 and is available to be drawn on subject to limitations based on its terms and certain financial covenants, as fully described below. The senior credit facility contains various covenants that limit the ability of the Company and certain of its subsidiaries to grant certain liens; make certain loans and investments; make distributions; redeem stock; redeem or prepay debt; merge or consolidate with or into a third party; or engage in certain asset dispositions, including a sale of all or substantially all of the Companys assets. Additionally, the senior credit facility limits the ability of the Company and certain of its subsidiaries to incur additional indebtedness with certain exceptions, including under the series of senior notes discussed below. The senior credit facility contains financial covenants, including maintaining agreed levels for the (i)ratio of total funded debt to EBITDAX (as defined in the senior credit facility), which may not exceed 4.5:1.0 calculated using the last four completed fiscal quarters, (ii)ratio of EBITDAX to interest expense plus current maturities of long-term debt, which must be at least 2.5:1.0 calculated using the last four completed fiscal quarters, and (iii)ratio of current assets to current liabilities, which must be at least 1.0:1.0. In the current ratio calculation (as defined in the senior credit facility) any amounts available to be drawn under the senior credit facility are included in current assets, and unrealized assets and liabilities resulting from mark-to-market adjustments on the Companys derivative contracts are disregarded. As of September30, 2009, the Company was in compliance with all of the financial covenants under the senior credit facilit

9. Other Long-Term Obligations

9. Other Long-Term Obligations
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
9. Other Long-Term Obligations	9.Other Long-Term Obligations Pursuant to a settlement agreement with Conoco, Inc. entered into in January 2007, the Company agreed to pay approximately $25.0million plus interest, payable in $5.0million increments. The current portion of the unpaid settlement of $5.0 million was included in accounts payable-trade in the accompanying condensed consolidated balance sheets as of September30, 2009 and December31, 2008. The non-current unpaid settlement amounts of $5.0million and $10.0 million have been included in other long-term obligations in the accompanying condensed consolidated balance sheets at September30, 2009 and December31, 2008, respectively.

10. Derivatives

10. Derivatives
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
10. Derivatives	10.Derivatives The Companys derivative contracts have not been designated as hedges. The Company records all derivative contracts, which include commodity derivatives and interest rate swaps, at fair value. Changes in derivative contract fair values are recognized in earnings. Cash settlements and valuation gains and losses are included in loss (gain) on derivative contracts for the commodity derivative contracts and in interest expense for the interest rate swaps in the consolidated statements of operations. Commodity derivative contracts are settled on a monthly basis. Settlements on the interest rate swaps occur quarterly. Derivative assets and liabilities arising from the Companys derivative contracts with the same counterparty that provide for net settlement are reported on a net basis in the consolidated balance sheet. Commodity Derivatives.The Company is exposed to commodity price risk, which impacts the predictability of its cash flows related to the sale of natural gas and crude oil. This risk is managed by the Companys use of commodity derivative contracts. These derivative contracts allow the Company to limit its exposure to a portion of its projected natural gas and crude oil sales. None of the Companys derivative contracts may be terminated early as a result of a party having its credit rating downgraded. At September30, 2009 and December31, 2008, the Companys commodity derivative contracts consisted of fixed price swaps and basis swaps, which are described below: Fixedpriceswaps The Company receives a fixed price for the contract and pays a floating market price to the counterparty over a specified period for a contracted volume. Basisswaps The Company receives a payment from the counterparty if the settled price differential is greater than the stated terms of the contract and pays the counterparty if the settled price differential is less than the stated terms of the contract, which guarantees the Company a price differential for natural gas from a specified delivery point. Interest Rate Swaps.The Company is exposed to interest rate risk on its long-term fixed and variable interest rate borrowings. Fixed rate debt, where the interest rate is fixed over the life of the instrument, exposes the Company to (i)changes in market interest rates reflected in the fair value of the debt and (ii)the risk that the Company may need to refinance maturing debt with new debt at a higher rate. Variable rate debt, where the interest rate fluctuates, exposes the Company to short-term changes in market interest rates as the Companys interest obligations on these instruments are periodically redetermined based on prevailing market interest rates, primarily LIBOR and the federal funds rate. The Company has entered into two interest rate swap agreements to manage the interest rate risk on a portion of its floating rate debt by effectively fixing the variable interest rate on its Senior Floating Rate Notes. See Note8 for further discussion of the Companys interest rate swaps. Fair Value of Derivatives.The balance sheet classification of assets and liabilities related to derivative contracts is summarized below at

11. Income Taxes

11. Income Taxes
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
11. Income Taxes	11.Income Taxes In accordance with GAAP, the Company estimates for each interim reporting period the effective tax rate expected for the full fiscal year and uses that estimated rate in providing income taxes on a current year-to-date basis. The provisions (benefits) for income taxes consisted of the following components for the three and nine-month periods ended September30 (in thousands): Three Months Ended September30, Nine Months Ended September30, 2009 2008 2009 2008 Current: Federal $ (1,763 ) $ (848 ) $ (3,983 ) $ (848 ) State (817 ) 4,542 (135 ) 5,566 (2,580 ) 3,694 (4,118 ) 4,718 Deferred: Federal 122,832 4 81,596 State 4,167 2,994 126,999 4 84,590 Total (benefits) provisions $ (2,580 ) $ 130,693 $ (4,114 ) $ 89,308 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting. Deferred tax assets are reduced by a valuation allowance if a determination is made that it is more likely than not that some or all of the deferred assets will not be realized based on the weight of all available evidence. For the year ended December31, 2008, the Company determined it was appropriate to record a full valuation allowance against its net deferred tax asset. For the nine-month period ended September30, 2009, the Company recorded a $467.2million increase to the previously established valuation allowance. The increase is primarily a result of not recording a tax benefit for the current period loss before income taxes of $1,351.5million. Internal Revenue Code (IRC) Section382 addresses company ownership changes and specifically limits the utilization of certain tax attributes on an annual basis following an ownership change. The Company experienced an ownership change, within the meaning of IRC Section382, during December 2008. Although the Company does expect a limitation on certain of its tax attributes as a result of the ownership change, such limitation is not expected to result in a current federal tax liability for the year ending December31, 2009. No reserves for uncertain income tax positions have been recorded pursuant to the guidance for uncertainty in income taxes under the Income Taxes Topic of the ASC. Tax years 1999 to present remain open for the majority of taxing authorities due to net operating loss utilization. The Companys accounting policy is to recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense. The Company does not have an accrued liability for interest and penalties at September30, 2009. For the three-month period ended September30, 2009 and 2008, income tax payments, net of refunds, were $0.0 milli

12. Earnings

12. Earnings (Loss) Per Share
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
12. Earnings (Loss) Per Share	12.Earnings (Loss) Per Share Basic earnings per share are computed using the weighted average number of common shares outstanding during the period. Diluted earnings per share are computed using the weighted average shares outstanding during the period, but also include the dilutive effect of awards of restricted stock and outstanding convertible preferred stock. The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted earnings per share, for the three and nine-month periods ended September30, 2009 and 2008 (in thousands): ThreeMonthsEnded September30, NineMonthsEnded September30, 2009 2008 2009 2008 Weighted average basic common shares outstanding 178,069 163,020 171,902 153,125 Effect of dilutive securities: Restricted stock 1,534 1,364 Convertible preferred stock Weighted average diluted common and potential common shares outstanding 178,069 164,554 171,902 154,489 For the three and nine-month periods ended September30, 2009, 3.2million shares and 2.7million shares of restricted stock not yet vested, respectively, were excluded from the computation of net loss per share because their effect would have been antidilutive. In computing diluted earnings per share, the Company evaluated the if-converted method with respect to its outstanding 8.5% convertible perpetual preferred stock (see Note 15) for the three and nine-month periods ended September30, 2009 and with respect to its then outstanding redeemable convertible preferred stock for the nine-month period ended September30, 2008. Under this method, the Company assumes the conversion of the preferred stock to common stock and determines if this is more dilutive than including the preferred stock dividends (paid and unpaid) in the computation of income available to common stockholders. The Company determined the if-converted method was not more dilutive for the three and nine-month periods ended September30, 2009. The Company determined the if-converted method was not more dilutive and included preferred stock dividends in the determination of income available to common stockholders for the nine-month period ended September30, 2008. No shares of redeemable convertible preferred stock were outstanding during the three-month period ended September30, 2008.

13. Commitments and Contingenci

13. Commitments and Contingencies
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
13. Commitments and Contingencies	13.Commitments and Contingencies The Company is a defendant in lawsuits from time to time in the normal course of business. In managements opinion, the Company is not currently involved in any legal proceedings that, individually or in the aggregate, could have a material effect on the financial condition, results of operations or cash flows of the Company.

14. Redeemable Convertible Pref

14. Redeemable Convertible Preferred Stock
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
14. Redeemable Convertible Preferred Stock	14.Redeemable Convertible Preferred Stock In November 2006, the Company sold 2,136,667shares of redeemable convertible preferred stock to finance a portion of its acquisition of NEG Oil Gas, LLC. Each holder of redeemable convertible preferred stock was entitled to quarterly cash dividends at the annual rate of 7.75% of the accreted value, or $210 per share, of their redeemable convertible preferred stock. Each share of redeemable convertible preferred stock was initially convertible into ten shares, and ultimately convertible into 10.2shares, of common stock at the option of the holder. A summary of dividends declared and paid on the redeemable convertible preferred stock is as follows (in thousands, except per share data): Declared DividendPeriod Dividends perShare Total PaymentDate January31, 2007 November21,2006February1,2007 $ 3.21 $ 6,859 February 15, 2007 May8, 2007 February 2, 2007May 1, 2007 3.97 8,550 May 15, 2007 June8, 2007 May 2, 2007 August 1, 2007 4.10 8,956 August 15, 2007 September24, 2007 August 2, 2007 November 1, 2007 4.10 8,956 November15,2007 December16, 2007 November 2, 2007 February 1, 2008 4.10 8,956 February 15, 2008 March7, 2008 February 2, 2008 May 1, 2008 4.01 8,095 (1) May7, 2008 May 2, 2008 May 7, 2008 4.01 501 May 7, 2008 (1) Includes $0.6million of prorated dividends paid to holders of redeemable convertible preferred shares at the time their shares converted to common stock in March 2008. The remaining dividends of $7.5million were paid during May 2008. On March30, 2007, certain holders of the Companys common units (consisting of shares of common stock and a warrant to purchase redeemable convertible preferred stock upon the surrender of common stock) exercised warrants to purchase redeemable convertible preferred stock. The holders converted 526,316shares of common stock into 47,619shares of redeemable convertible preferred stock. During March 2008, holders of 339,823shares of the Companys redeemable convertible preferred stock elected to convert those shares into 3,465,593shares of the Companys common stock. Additionally, during May 2008, the Company converted the remaining outstanding 1,844,464shares of its redeemable convertible preferred stock into 18,810,260shares of its common stock as permitted under the terms of the redeemable convertible preferred stock. These conversions resulted in increases to additional paid-in capital totaling $452.2million, which represents the difference between the par value of the common stock issued and the carrying value of the redeemable convertible shares converted. The Company also recorded charges to retained earnings totaling $7.2million in accelerated accretion expense related to the converted redeemable convertible preferred shares. Prorated dividends totaling $0.5million for the period from May2, 2008 to the date of conversion (May7, 2008)were paid to the holders of the converted shares on May7, 2008. On and after the conversion date, dividends ceased to accrue and the rights of common unit

15. Equity

15. Equity
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
15. Equity	15.Equity Preferred Stock.The following table presents information regarding the Companys preferred stock (in thousands): September30, 2009 December31, 2008 Shares authorized 50,000 50,000 Shares outstanding at end of period 2,650 In January 2009, the Company completed a private placement of 2,650,000shares of 8.5% convertible perpetual preferred stock to qualified institutional investors eligible under Rule144A under the Securities Act. The offering included 400,000shares of convertible perpetual preferred stock issued upon the full exercise of the initial purchasers option to cover over-allotments. Net proceeds from the offering were approximately $243.3million after deducting offering expenses of approximately $8.6million. The Company used the net proceeds from the offering to repay outstanding borrowings under the senior credit facility and for general corporate purposes. Each share of 8.5% convertible perpetual preferred stock has a liquidation preference of $100 and is convertible at the holders option at any time initially into approximately 12.4805shares of the Companys common stock, subject to adjustments upon the occurrence of certain events. Each holder of the convertible perpetual preferred stock is entitled to an annual dividend of $8.50 per share to be paid semi-annually in cash, common stock or a combination thereof at the Companys election, with the first dividend payment due in February 2010. Approximately $2.8 million in unpaid dividends on the 8.5% convertible perpetual preferred stock has been included in the Companys earnings per share calculations for the three and nine-month periods ended September30, 2009 as presented in the accompanying condensed consolidated statements of operations. The convertible perpetual preferred stock is not redeemable by the Company at any time. After February20, 2014, the Company may cause all outstanding shares of the convertible perpetual preferred stock to automatically convert into common stock at the then-prevailing conversion rate if certain conditions are met. Common Stock.The following table presents information regarding the Companys common stock (in thousands): September30, 2009 December31, 2008 Shares authorized 400,000 400,000 Shares outstanding at end of period 183,524 166,046 Shares held in treasury 1,462 1,326 During March 2008, the Company issued 3,465,593shares of common stock upon the conversion of 339,823shares of its redeemable convertible preferred stock. In May 2008, the Company converted the remaining 1,844,464 outstanding shares of its redeemable convertible preferred stock into 18,810,260shares of its common stock as permitted under the terms of the redeemable convertible preferred stock. See additional discussion in Note14. In April 2009, the Company completed a registered underwritten offering of 14,480,000shares of its common stock, including 2,280,000shares of common stock acquired by the underwriters from the Company to cover over-allotments. Net proceeds to the Company from the offering were approximately $107.6million, after deducting offering expenses of approx

16. Related Party Transactions

16. Related Party Transactions
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
16. Related Party Transactions	16.Related Party Transactions The Company enters into transactions in the ordinary course of business with certain of its stockholders and other related parties. These transactions primarily consist of purchases of gas treating services and drilling equipment and sales of oil field services and natural gas. Following is a summary of significant transactions with such related parties for the three and nine-month periods ended September30, 2009 and 2008 (in thousands): Three Months Ended September30, Nine Months Ended September30, 2009 2008 2009 2008 Sales to and reimbursements from related parties $ 1,014 $ 24,552 $ 5,420 $ 76,978 Purchases of services from related parties $ 4,550 $ 11,380 $ 18,956 $ 50,441 Through August 2009, the Company leased office space in Oklahoma City from a member of its Board of Directors. The Company believes that the payments made under this lease were at fair market rates. Rent expense related to the lease totaled $0.1million and $0.3million for the three-month periods ended September30, 2009 and 2008, respectively. For the nine-month periods ended September30, 2009 and 2008, rent expense under this lease was $0.6million and $1.0million, respectively. The lease expired in August 2009. Larclay, L.P.Until April15, 2009, Lariat and its partner Clayton Williams Energy, Inc. (CWEI) each owned a 50% interest in Larclay L.P. (Larclay), a limited partnership, and, until such time, Lariat operated the rigs owned by Larclay. On April15, 2009, Lariat completed an assignment to CWEI of Lariats 50% equity interest in Larclay pursuant to the terms of an Assignment and Assumption Agreement (the Larclay Assignment) entered into between Lariat and CWEI on March13, 2009. Pursuant to the Larclay Assignment, Lariat assigned all of its right, title and interest in and to Larclay to CWEI effective April15, 2009, and CWEI assumed all of the obligations and liabilities of Lariat relating to Larclay. The Company fully impaired both the investment in and notes receivable due from Larclay at December31, 2008. There were no additional losses on Larclay during the three or nine-month period ended September30, 2009 or as a result of the Larclay Assignment. For the three-month period ended September30, 2008, sales to and reimbursements from Larclay were $11.2 million and purchases of services from Larclay were $7.1 million. There were no sales, reimbursements or purchases from Larclay during the three-month period ended September30, 2009. For the nine-month periods ended September30, 2009 and 2008, sales to and reimbursements from Larclay were $3.0 million and $34.2 million, respectively. Purchases of services from Larclay were $1.8 million and $31.1 million for the nine months ended September30, 2009 and 2008, respectively.

17. Crusader Acquisition

17. Crusader Acquisition
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
17. Crusader Acquisition	17.Crusader Acquisition On September22, 2009, the Company entered into a Stock Purchase Agreement (Crusader Purchase Agreement) with Crusader Energy Group Inc. and its subsidiaries (collectively, Crusader) to purchase all of the shares of common stock of Crusader that will be issued upon the effectiveness of Crusaders reorganization under Chapter 11 of the United States Bankruptcy Code. The closing of the transaction is subject to customary conditions, approval by Crusaders creditors and the Bankruptcy Court, consideration of alternative transactions that may be submitted prior to a bid deadline, and an auction to be held after the bid deadline. The closing of the transaction is expected to occur during the fourth quarter of 2009. The consideration payable by the Company consists of the following: $55.0 million cash, subject to certain adjustments; 13,015,797 shares of Company common stock, subject to certain adjustments; and warrants to purchase an aggregate of 2.0million shares of Company common stock at an exercise price of $15.00 per share during an exercise period ending five years after the closing date of the transactions contemplated under the Crusader Purchase Agreement. Recipients of the stock consideration and warrants will not be permitted to dispose of such stock consideration or warrants for 180 days after the closing date of the transaction. If the total amount of the claims against Crusader that are required to be paid or reserved for under Crusaders plan of reorganization (the Plan) on the closing date exceeds the amount of the cash consideration payable by the Company plus Crusaders cash assets on the closing date, then the Company will make up to a $30.0 million loan to the liquidating trust created under the Plan to pay or reserve for such claims. In the event of such a loan, a number of shares of the Companys common stock with an aggregate value (calculated at $13.4452 per share) equal to the amount of the loan will be withheld and reserved from the shares required to be issued on the closing date. Approximately six months after the closing date, the Company will deliver the number of reserved shares that has an aggregate value (calculated at $13.4452 per share) equal to the amount of the loan that was repaid to the Company by the liquidating trust minus unpaid interest.

18. Subsequent Events

18. Subsequent Events
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
18. Subsequent Events	18.Subsequent Events Grey Ranch.During October 2009, the Company executed amendments to certain agreements related to the ownership and operation of Grey Ranch Plant, LP (GRLP), the limited partnership that operates the Grey Ranch Plant located in Pecos County, Texas. As a result of these amendments, the Company became the primary beneficiary of GRLP. The Company currently accounts for its ownership interest in GRLP using the equity method of accounting; however, due to this change, the Company will include the activity of GRLP in its consolidated financial statements prospectively beginning on the agreements effective date, or October1, 2009. The change from equity method of accounting to the consolidation of GRLP activity will have no effect on the Companys net income. Events occurring after September30, 2009 were evaluated as of November5, 2009, the date this Quarterly Report was issued to ensure that any subsequent events that met the criteria for recognition and/or disclosure in this report have been included.

19. Business Segment Informatio

19. Business Segment Information
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
19. Business Segment Information	19.Business Segment Information The Company has three business segments: exploration and production, drilling and oil field services and midstream gas services. These segments represent the Companys three main business units, each offering different products and services. The exploration and production segment is engaged in the acquisition, development and production of natural gas and crude oil properties. The drilling and oil field services segment is engaged in the land contract drilling of natural gas and crude oil wells. The midstream gas services segment is engaged in the purchasing, gathering, processing, treating and selling of natural gas. The All Other column in the tables below includes items not related to the Companys reportable segments including the Companys CO2 gathering and sales operations and corporate operations. Management evaluates the performance of the Companys business segments based on operating income, which is defined as segment operating revenues less operating expenses and depreciation, depletion and amortization. Summarized financial information concerning the Companys segments is shown in the following table (in thousands): Explorationand Production DrillingandOil Field Services MidstreamGas Services All Other Consolidated Total Three Months Ended September30, 2009 Revenues $ 105,026 $ 42,958 $ 52,564 $ 9,576 $ 210,124 Inter-segment revenue (66 ) (37,160 ) (36,644 ) (1,399 ) (75,269 ) Total revenues $ 104,960 $ 5,798 $ 15,920 $ 8,177 $ 134,855 Operating (loss) income $ (31,123 ) $ (4,621 ) $ 476 $ (14,961 ) $ (50,229 ) Interest expense, net (52,344 ) (482 ) (286 ) (53,112 ) Other (expense) income, net (1,144 ) 593 (551 ) (Loss) income before income taxes $ (84,611 ) $ (5,103 ) $ 1,069 $ (15,247 ) $ (103,892 ) Capital expenditures(1) $ 87,288 $ 569 $ 2,500 $ 7,360 $ 97,717 Depreciation, depletion and amortization $ 33,759 $ 7,042 $ 558 $ 3,793 $ 45,152 Three Months Ended September30, 2008 Revenues $ 259,878 $ 121,376 $ 198,220 $ 5,851 $ 585,325 Inter-segment revenue (66 ) (109,343 ) (140,510 ) (1,383 ) (251,302 ) Total revenues $ 259,812 $ 12,033 $ 57,710 $ 4,468 $ 334,023 Operating income (loss) $ 418,751 $ 4,054 $ (1,359 ) $ (20,159 ) $ 401,287 Interest expense, net (39,075 ) (729 ) (299 ) (40,103 ) Other (expense) income, net (63 ) 281 (418 ) 57 (143 )

20. Condensed Consolidating Fin

20. Condensed Consolidating Financial Information
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
20. Condensed Consolidating Financial Information	20. Condensed Consolidating Financial Information The Company provides condensed consolidating financial information for its subsidiaries that are guarantors of its registered debt. The subsidiary guarantors are wholly owned and have, jointly and severally, unconditionally guaranteed on an unsecured basis the Companys 8.625%Senior Notes and Senior Floating Rate Notes. The subsidiary guarantees (i)rank equally in right of payment with all of the existing and future senior debt of the subsidiary guarantors; (ii)rank senior to all of the existing and future subordinated debt of the subsidiary guarantors; (iii)are effectively subordinated in right of payment to any existing or future secured obligations of the subsidiary guarantors to the extent of the value of the assets securing such obligations; and (iv)are structurally subordinated to all debt and other obligations of the subsidiaries of the guarantors who are not themselves guarantors. The Company has not presented separate financial and narrative information for each of the subsidiary guarantors because it believes that such financial and narrative information would not provide any additional information that would be material in evaluating the sufficiency of the guarantees. Effective May1, 2009, SandRidge Energy, Inc., the parent, contributed all of its rights, title and interest in its natural gas and crude oil related assets and accompanying liabilities to one of its wholly owned subsidiaries, leaving it with no natural gas or crude oil related assets or operations. The following condensed consolidating financial information represents the financial information of SandRidge Energy, Inc. and its wholly owned subsidiary guarantors, prepared on the equity basis of accounting. The non-guarantor subsidiaries are minor and, therefore, not presented separately. The financial information may not necessarily be indicative of the financial position, results of operations, or cash flows had the subsidiary guarantors operated as independent entities. Condensed Consolidating Balance Sheets September30, 2009 Parent Company Guarantor Subsidiaries Eliminations Consolidated (In thousands) ASSETS Current assets: Cash and cash equivalents $ 14,414 $ 228 $ $ 14,642 Accounts and notes receivable, net 69,173 414,127 (402,715 ) 80,585 Derivative contracts 129,453 129,453 Other current assets 35,763 35,763 Total current assets 83,587 579,571 (402,715 ) 260,443 Property, plant and equipment, net 1,964,227 1,964,227 Investment in subsidiaries 2,198,115 (2,198,115 ) Other assets 41,605 96,077 (51,384 ) 86,298 Total assets $ 2,323,307 $ 2,639,875 $ (2,652,214 ) $ 2,310,968 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009	Oct. 30, 2009
Entity [Text Block]
Trading Symbol	SD
Entity Registrant Name	SANDRIDGE ENERGY INC
Entity Central Index Key	0001349436
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		183,494,775