SandRidge Energy (SD) 10-Q 8 Aug 19 2019 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2019	Aug. 02, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-33784
Entity Registrant Name	SANDRIDGE ENERGY INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8084793
Entity Address, Address Line One	123 Robert S. Kerr Avenue
Entity Address, City or Town	Oklahoma City
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	73102
City Area Code	405
Local Phone Number	429-5500
Title of 12(b) Security	Common Stock, $.001 par value
Trading Symbol	SD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		35,737,539
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Central Index Key	0001349436
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 7,808	$ 17,660
Restricted cash - other	1,981	1,985
Accounts receivable, net	51,025	45,503
Derivative contracts	0	5,286
Prepaid expenses	2,927	2,628
Other current assets	247	265
Total current assets	63,988	73,327
Oil and natural gas properties, using full cost method of accounting
Proved	1,390,054	1,269,091
Unproved	46,274	60,152
Less: accumulated depreciation, depletion and impairment	(652,709)	(580,132)
Net oil and natural gas properties	783,619	749,111
Other property, plant and equipment, net	197,706	200,838
Other assets	1,500	1,062
Total assets	1,046,813	1,024,338
Current liabilities
Accounts payable and accrued expenses	95,734	111,797
Asset retirement obligation	14,820	25,393
Other current liabilities	1,355	0
Total current liabilities	111,909	137,190
Long-term debt	52,000	0
Asset retirement obligation	46,176	34,671
Other long-term obligations	4,587	4,756
Total liabilities	214,672	176,617
Commitments and contingencies (Note 8)
Stockholders’ Equity
Common stock, $0.001 par value; 250,000 shares authorized; 35,762 issued and outstanding at June 30, 2019 and 35,687 issued and outstanding at December 31, 2018	36	36
Warrants	88,518	88,516
Additional paid-in capital	1,058,200	1,055,164
Accumulated deficit	(314,613)	(295,995)
Total stockholders’ equity	832,141	847,721
Total liabilities and stockholders’ equity	$ 1,046,813	$ 1,024,338

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	35,762,000	35,687,000
Common stock, shares outstanding (in shares)	35,762,000	35,687,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Total revenues	$ 75,388	$ 79,462	$ 148,624	$ 166,590
Expenses
Lease operating expenses	25,076	19,757	47,855	43,276
Production, ad valorem, and other taxes	5,877	5,683	10,957	11,917
Depreciation and depletion — oil and natural gas	39,419	30,961	75,884	58,958
Depreciation and amortization — other	2,986	3,040	5,929	6,193
Impairment	0	0	0	4,170
General and administrative	10,084	10,077	20,023	23,759
Accelerated vesting of employment compensation	0	6,545	0	6,545
Proxy contest	0	7,191	0	7,598
Employee termination benefits	4,465	1,043	4,465	32,630
Loss on derivative contracts	0	30,104	209	48,434
Other operating expense (income)	37	(1,254)	119	(1,238)
Total expenses	87,944	113,147	165,441	242,242
Loss from operations	(12,556)	(33,685)	(16,817)	(75,652)
Other (expense) income
Interest expense, net	(702)	(651)	(1,287)	(1,599)
Gain on extinguishment of debt	0	0	0	1,151
Other (expense) income, net	(26)	217	(457)	1,090
Total other (expense) income	(728)	(434)	(1,744)	642
Loss before income taxes	(13,284)	(34,119)	(18,561)	(75,010)
Income tax benefit	0	(45)	0	(42)
Net loss	$ (13,284)	$ (34,074)	$ (18,561)	$ (74,968)
Loss per share
Basic (in dollars per share)	$ (0.38)	$ (0.97)	$ (0.53)	$ (2.15)
Diluted (in dollars per share)	$ (0.38)	$ (0.97)	$ (0.53)	$ (2.15)
Weighted average number of common shares outstanding
Basic (in shares)	35,356,000	35,017,000	35,339,000	34,800,000
Diluted (in shares)	35,356,000	35,017,000	35,339,000	34,800,000
Oil, natural gas and NGL
Revenues
Total revenues	$ 75,196	$ 79,304	$ 148,244	$ 166,270
Other
Revenues
Total revenues	$ 192	$ 158	$ 380	$ 320

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Warrants	Additional Paid-In Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2017		35,650,000	6,570,000
Beginning balance at Dec. 31, 2017	$ 839,940	$ 36	$ 88,500	$ 1,038,324	$ (286,920)
Increase (Decrease) in Stockholders' Equity
Issuance of stock awards, net of cancellations (in shares)		(90,000)
Stock-based compensation	16,055			16,055
Cash paid for tax withholdings on vested stock awards	(1,661)			(1,661)
Net loss	(40,894)				(40,894)
Ending balance (in shares) at Mar. 31, 2018		35,560,000	6,570,000
Ending balance at Mar. 31, 2018	813,440	$ 36	$ 88,500	1,052,718	(327,814)
Beginning balance (in shares) at Dec. 31, 2017		35,650,000	6,570,000
Beginning balance at Dec. 31, 2017	839,940	$ 36	$ 88,500	1,038,324	(286,920)
Increase (Decrease) in Stockholders' Equity
Net loss	(74,968)
Ending balance (in shares) at Jun. 30, 2018		35,332,000	6,622,000
Ending balance at Jun. 30, 2018	780,256	$ 35	$ 88,514	1,053,595	(361,888)
Beginning balance (in shares) at Mar. 31, 2018		35,560,000	6,570,000
Beginning balance at Mar. 31, 2018	813,440	$ 36	$ 88,500	1,052,718	(327,814)
Increase (Decrease) in Stockholders' Equity
Issuance of stock awards, net of cancellations (in shares)		(254,000)
Issuance of stock awards, net of cancellations	0	$ (1)		1
Common stock issued for general unsecured claims		26,000
Stock-based compensation	6,605			6,605
Issuance of warrants for general unsecured claims (in shares)			52,000
Issuance of warrants for general unsecured claims	0		$ 14	(14)
Cash paid for tax withholdings on vested stock awards	(5,715)			(5,715)
Net loss	(34,074)				(34,074)
Ending balance (in shares) at Jun. 30, 2018		35,332,000	6,622,000
Ending balance at Jun. 30, 2018	$ 780,256	$ 35	$ 88,514	1,053,595	(361,888)
Beginning balance (in shares) at Dec. 31, 2018	35,687,000	35,687,000	6,604,000
Beginning balance at Dec. 31, 2018	$ 847,721	$ 36	$ 88,516	1,055,164	(295,995)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation	1,073			1,073
Issuance of warrants for general unsecured claims (in shares)			1,000
Issuance of warrants for general unsecured claims	0		$ 2	(2)
Net loss	(5,277)				(5,277)
Ending balance (in shares) at Mar. 31, 2019		35,687,000	6,605,000
Ending balance at Mar. 31, 2019	$ 843,460	$ 36	$ 88,518	1,056,235	(301,329)
Beginning balance (in shares) at Dec. 31, 2018	35,687,000	35,687,000	6,604,000
Beginning balance at Dec. 31, 2018	$ 847,721	$ 36	$ 88,516	1,055,164	(295,995)
Increase (Decrease) in Stockholders' Equity
Net loss	$ (18,561)
Ending balance (in shares) at Jun. 30, 2019	35,762,000	35,762,000	6,605,000
Ending balance at Jun. 30, 2019	$ 832,141	$ 36	$ 88,518	1,058,200	(314,613)
Beginning balance (in shares) at Mar. 31, 2019		35,687,000	6,605,000
Beginning balance at Mar. 31, 2019	843,460	$ 36	$ 88,518	1,056,235	(301,329)
Increase (Decrease) in Stockholders' Equity
Issuance of stock awards, net of cancellations (in shares)		75,000
Stock-based compensation	2,170			2,170
Cash paid for tax withholdings on vested stock awards	(205)			(205)
Net loss	$ (13,284)				(13,284)
Ending balance (in shares) at Jun. 30, 2019	35,762,000	35,762,000	6,605,000
Ending balance at Jun. 30, 2019	$ 832,141	$ 36	$ 88,518	$ 1,058,200	$ (314,613)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (18,561)	$ (74,968)
Adjustments to reconcile net loss to net cash provided by operating activities
Provision for doubtful accounts	(91)	(6)
Depreciation, depletion, and amortization	81,813	65,151
Impairment	0	4,170
Debt issuance costs amortization	238	235
Amortization of premiums and discounts on debt	0	(47)
Write off of debt issuance costs	142	0
Gain on extinguishment of debt	0	(1,151)
Loss on derivative contracts	209	48,434
Cash received (paid) on settlement of derivative contracts	5,078	(17,393)
Stock-based compensation	3,104	21,909
Other	(57)	(1,563)
Changes in operating assets and liabilities	(9,402)	11,346
Net cash provided by operating activities	62,473	56,117
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures for property, plant and equipment	(123,676)	(95,328)
Acquisition of assets	236	0
Proceeds from sale of assets	852	13,563
Net cash used in investing activities	(122,588)	(81,765)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	112,596	0
Repayments of borrowings	(60,596)	(36,304)
Reduction of financing lease liability	(635)	0
Debt issuance costs	(901)	0
Cash paid for tax withholdings on vested stock awards	(205)	(7,376)
Net cash provided by (used in) financing activities	50,259	(43,680)
NET DECREASE IN CASH, CASH EQUIVALENTS and RESTRICTED CASH	(9,856)	(69,328)
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of year	19,645	101,308
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	9,789	31,980
Supplemental Disclosure of Cash Flow Information
Cash paid for interest, net of amounts capitalized	(949)	0
Supplemental Disclosure of Noncash Investing and Financing Activities
Purchase of PP&E in accounts payable	17,224	29,464
Right-of-use assets obtained in exchange for financing lease obligations	$ 2,655	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Nature of Business. SandRidge Energy, Inc. is an oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma with a principal focus on the acquisition, exploration and development of hydrocarbon resources in the United States. Principles of Consolidation. The consolidated financial statements include the accounts of the Company and its wholly owned or majority owned subsidiaries, including its proportionate share of the Royalty Trusts. All intercompany accounts and transactions have been eliminated in consolidation. Interim Financial Statements. The accompanying unaudited condensed consolidated financial statements and notes should be read in conjunction with the audited financial statements and notes contained in the Company’s 2018 Form 10-K. Certain information and 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, the financial statements include all adjustments, which consist of normal recurring adjustments unless otherwise disclosed, necessary to fairly state the Company’s unaudited condensed consolidated financial statements. Significant Accounting Policies. The unaudited condensed consolidated financial statements were prepared in accordance with the accounting policies stated in the 2018 Form 10-K as well as the items noted below. Reclassifications. Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. These reclassifications have no effect on the Company’s previously reported results of operations. Use of Estimates. The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of assumptions, judgments and estimates include: oil, natural gas and natural gas liquids (“NGL”) reserves; impairment tests of long-lived assets; asset retirement obligations; depreciation, depletion and amortization; income taxes; valuation of derivative instruments; contingencies; and accrued revenue and related receivables. In the second quarter of 2019, the Company revised estimated retirement dates for certain Mid-Continent properties. These revisions resulted in the reclassification of $9.7 million in asset retirement obligations from current liabilities to long-term obligations on the accompanying condensed consolidated balance sheet as of June 30, 2019. Although management believes the estimates used in the areas noted above are reasonable, actual results could differ significantly. Recent Accounting Pronouncements. In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, “Leases (Topic 842),” and subsequently issued other associated ASU's related to Topic 842 which supersede Accounting Standards Codification ("ASC") 840 and require lessees to recognize right of use ("ROU") lease assets and liabilities on the balance sheet for long-term leases formerly classified as operating leases under ASC 840, and to disclose key information about leasing arrangements. The Company adopted this ASU on January 1, 2019 using a modified retrospective approach for all ROU leases that existed at the period of adoption and did not restate its comparative periods. See Note 4 for additional discussion of the new leasing standard. Recent Accounting Pronouncements Not Yet Adopted. The FASB issued ASU 2016-13, “Financial Instruments —Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments,” which changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace the currently required incurred loss approach with an expected loss model for instruments measured at amortized cost. The standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted for the interim and annual periods beginning after December 31, 2018, and will be applied using a modified retrospective approach resulting in a cumulative effect adjustment to retained earnings upon adoption. The Company does not plan to early adopt and is currently evaluating the effect the guidance will have on its consolidated financial statements; however, the impact is not expected to be material.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures and reports certain assets and liabilities on a fair value basis and has classified and disclosed its fair value measurements using the levels of the fair value hierarchy noted below. The carrying values of cash, restricted cash, accounts receivable, prepaid expenses, certain other current assets and other assets, accounts payable and accrued expenses, other current liabilities and other long-term obligations included in the unaudited condensed consolidated balance sheets approximated fair value at June 30, 2019, and December 31, 2018. Additionally, the carrying amount of debt associated with borrowings outstanding under the credit facility approximates fair value as borrowings bear interest at variable rates. As a result, these financial assets and liabilities are not discussed below. The fair values of property, plant and equipment classified as assets held for sale and related impairments, which are calculated using Level 3 inputs, are discussed in Note 5. Level 1 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 from 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 Company’s 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. The determination of the fair values, stated below, considers the market for the Company’s financial assets and liabilities, the associated credit risk and other factors. 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. The Company had no financial assets or liabilities where fair value differed from carrying value classified in the fair value hierarchy as of June 30, 2019. The Company had assets classified in Level 2 of the hierarchy as of December 31, 2018, as described below. Level 2 Fair Value Measurements Commodity Derivative Contracts. The fair values of the Company’s oil and natural gas fixed price swaps are based upon inputs that are either readily available in the public market, such as oil and natural gas futures prices, volatility factors and discount rates, or can be corroborated from active markets. Fair value is determined through the use of a discounted cash flow model or option pricing model using the applicable inputs discussed above. The Company applies a weighted average credit default risk rating factor for its counterparties or gives effect to its credit default risk rating, as applicable, in determining the fair value of these derivative contracts. Credit default risk ratings are based on current published credit default swap rates. Fair Value - Recurring Measurement Basis The Company had no commodity derivative contracts in place at June 30, 2019. The following table summarizes the Company’s assets measured at fair value on a recurring basis by the fair value hierarchy as of December 31, 2018 (in thousands): December 31, 2018 Fair Value Measurements Netting(1) Assets/Liabilities at Fair Value Level 1 Level 2 Level 3 Assets Commodity derivative contracts $ — $ 5,286 $ — $ — $ 5,286 $ — $ 5,286 $ — $ — $ 5,286 ____________________ 1. Represents the effect of netting assets and liabilities for counterparties with which the right of offset exists. Transfers. The Company did not have any transfers between Level 1, Level 2 or Level 3 fair value measurements during the three and six-month periods ended June 30, 2019 and 2018.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Commodity Derivatives The Company is exposed to commodity price risk, which impacts the predictability of its cash flows from the sale of oil and natural gas. The Company, on occasion, has sought to manage this risk through the use of commodity derivative contracts, which allow the Company to limit its exposure to commodity price volatility on a portion of its forecasted oil and natural gas sales. The Company has not designated any of its derivative contracts as hedges for accounting purposes and records all derivative contracts at fair value with changes in derivative contract fair values recognized as gain or loss on derivative contracts in the unaudited condensed consolidated statements of operations. At June 30, 2019, the Company had no commodity derivative contracts in place. Historically, none of the Company’s commodity derivative contracts could be terminated prior to contractual maturity solely as a result of a downgrade in the credit rating of a party to the contract. Commodity derivative contracts are settled on a monthly basis, and the commodity derivative contract valuations are adjusted to the mark-to-market valuation on a quarterly basis. The Board and management of the Company are continuing to evaluate the futures market for oil and natural gas to mitigate exposure to adverse oil and natural gas price changes. The following table summarizes derivative activity for the three and six-month periods ended June 30, 2019, and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Loss on commodity derivative contracts $ — $ 30,104 $ 209 $ 48,434 Cash paid (received) on settlements $ — $ 11,274 $ (5,078) $ 17,393 Master Netting Agreements and the Right of Offset. Historically, the Company has had master netting agreements with all of its commodity derivative counterparties and has presented its derivative assets and liabilities with the same counterparty on a net basis in the unaudited condensed consolidated balance sheets. As a result of the netting provisions, the Company's maximum amount of loss under commodity derivative transactions due to credit risk was limited to the net amounts due from its counterparties. The Company is not required to post additional collateral under its commodity derivative contracts as all of the counterparties to the Company’s commodity derivative contracts shared in the collateral supporting the Company’s credit facility. The following table summarizes (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements and (iii) for the Company’s net derivative liability positions, the applicable portion of shared collateral under the credit facility as of December 31, 2018 (in thousands): December 31, 2018 Gross Amounts Gross Amounts Offset Amounts Net of Offset Financial Collateral Net Amount Assets Derivative contracts - current $ 5,286 $ — $ 5,286 $ — $ 5,286 Total $ 5,286 $ — $ 5,286 $ — $ 5,286 Fair Value of Derivatives The following table presents the fair value of the Company’s derivative contracts as of December 31, 2018, on a gross basis without regard to same-counterparty netting (in thousands): Type of Contract Balance Sheet Classification December 31, 2018 Derivative assets Natural gas price swaps Derivative contracts-current $ 5,286 Total net derivative contracts $ 5,286

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842),” and subsequently issued other associated ASU's related to Topic 842 which supersede ASC 840 and require lessees to recognize ROU lease assets and liabilities on the balance sheet for long-term leases formerly classified as operating leases under ASC 840, and to disclose key information about leasing arrangements. Leases to explore for or produce oil and natural gas were not impacted by this guidance. This ASU became effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company adopted this ASU on January 1, 2019 using a modified retrospective approach for all ROU leases that existed at the period of adoption and did not restate its comparative periods. Topic 842 provides a number of practical expedients to assist with the transition to the new standard. The Company elected the 'package of practical expedients,' and therefore did not have to reassess prior conclusions about lease identification, lease classification and initial indirect costs. The Company also utilized the land easement practical expedient and short-term lease recognition exemption, under which leases with initial terms less than 12 months are not required to be presented on the balance sheet. Certain leases contain both lease and non-lease components. The Company elected the practical expedient to combine lease and non-lease components for asset classes including drilling rigs, compressors and various office equipment. The Company determines if an arrangement is or contains a lease at inception. A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Lease liabilities are recognized based on the present value of the lease payments not yet paid over the lease term at January 1, 2019 for existing leases and at the commencement date for any new leases entered into subsequent to January 1, 2019. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate was used as the discount rate when determining the present value of future payments. The ROU assets are recognized based on the lease liability plus any prepaid lease payments and excluding lease incentives and initial direct costs incurred for the same periods. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that option will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Adoption of this standard resulted in additional ROU lease assets and lease liabilities of approximately $2.3 million and $2.4 million, respectively, as of January 1, 2019, which did not materially impact the Company's consolidated financial statements. The difference between the net lease assets and liabilities was recognized as a cumulative-effect adjustment to the opening balance of retained earnings. Operating leases are included in other assets, other current liabilities and other long-term obligations, and finance leases are included in other property, plant and equipment, other current liabilities and other long-term obligations on the accompanying condensed consolidated balance sheet as of June 30, 2019. The Company had no significant capital or operating leases with terms longer than 12 months at December 31, 2018. The Company has operating and financing leases for vehicles, drilling rigs and equipment, which are not significant to the consolidated financial statements as of and for the three and six-month periods ended June 30, 2019. The components of lease costs recognized for the Company's ROU leases are shown below: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Short-term lease cost (1) $ 3,174 $ 8,083 Financing lease cost 348 645 Operating lease cost 43 101 Total lease cost $ 3,565 $ 8,829 ___________________ 1. $1.9 million and $5.1 million of short-term lease cost was capitalized as part of oil and natural gas properties during the three and six-month periods ended June 30, 2019, respectively. Portions of these costs were reimbursed to the Company by other working interest owners.
Leases	Leases In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842),” and subsequently issued other associated ASU's related to Topic 842 which supersede ASC 840 and require lessees to recognize ROU lease assets and liabilities on the balance sheet for long-term leases formerly classified as operating leases under ASC 840, and to disclose key information about leasing arrangements. Leases to explore for or produce oil and natural gas were not impacted by this guidance. This ASU became effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company adopted this ASU on January 1, 2019 using a modified retrospective approach for all ROU leases that existed at the period of adoption and did not restate its comparative periods. Topic 842 provides a number of practical expedients to assist with the transition to the new standard. The Company elected the 'package of practical expedients,' and therefore did not have to reassess prior conclusions about lease identification, lease classification and initial indirect costs. The Company also utilized the land easement practical expedient and short-term lease recognition exemption, under which leases with initial terms less than 12 months are not required to be presented on the balance sheet. Certain leases contain both lease and non-lease components. The Company elected the practical expedient to combine lease and non-lease components for asset classes including drilling rigs, compressors and various office equipment. The Company determines if an arrangement is or contains a lease at inception. A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Lease liabilities are recognized based on the present value of the lease payments not yet paid over the lease term at January 1, 2019 for existing leases and at the commencement date for any new leases entered into subsequent to January 1, 2019. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate was used as the discount rate when determining the present value of future payments. The ROU assets are recognized based on the lease liability plus any prepaid lease payments and excluding lease incentives and initial direct costs incurred for the same periods. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that option will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Adoption of this standard resulted in additional ROU lease assets and lease liabilities of approximately $2.3 million and $2.4 million, respectively, as of January 1, 2019, which did not materially impact the Company's consolidated financial statements. The difference between the net lease assets and liabilities was recognized as a cumulative-effect adjustment to the opening balance of retained earnings. Operating leases are included in other assets, other current liabilities and other long-term obligations, and finance leases are included in other property, plant and equipment, other current liabilities and other long-term obligations on the accompanying condensed consolidated balance sheet as of June 30, 2019. The Company had no significant capital or operating leases with terms longer than 12 months at December 31, 2018. The Company has operating and financing leases for vehicles, drilling rigs and equipment, which are not significant to the consolidated financial statements as of and for the three and six-month periods ended June 30, 2019. The components of lease costs recognized for the Company's ROU leases are shown below: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Short-term lease cost (1) $ 3,174 $ 8,083 Financing lease cost 348 645 Operating lease cost 43 101 Total lease cost $ 3,565 $ 8,829 ___________________ 1. $1.9 million and $5.1 million of short-term lease cost was capitalized as part of oil and natural gas properties during the three and six-month periods ended June 30, 2019, respectively. Portions of these costs were reimbursed to the Company by other working interest owners.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consists of the following (in thousands): June 30, December 31, 2018 Oil and natural gas properties Proved $ 1,390,054 $ 1,269,091 Unproved 46,274 60,152 Total oil and natural gas properties 1,436,328 1,329,243 Less accumulated depreciation, depletion and impairment (652,709) (580,132) Net oil and natural gas properties 783,619 749,111 Land 4,400 4,400 Electrical infrastructure 131,176 131,176 Other non-oil and natural gas equipment 13,327 13,458 Buildings and structures 77,148 77,148 Financing leases 2,083 — Total 228,134 226,182 Less accumulated depreciation and amortization (30,428) (25,344) Other property, plant and equipment, net 197,706 200,838 Total property, plant and equipment, net $ 981,325 $ 949,949 During the first quarter of 2018, the Company classified its remaining midstream generator assets as held for sale. These assets had a carrying value of $5.7 million which exceeded the estimated net realizable value of $1.6 million based on expected sales prices obtained from third parties. As a result, the Company recorded an impairment of $4.1 million for the six-month period ended June 30, 2018. The midstream generator assets were sold during the second quarter of 2018 with no gain or loss recognized on the sale. No significant assets were classified as held for sale at June 30, 2019 or December 31, 2018.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	6 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consist of the following (in thousands): June 30, December 31, 2018 Accounts payable and other accrued expenses $ 65,267 $ 78,219 Payroll and benefits 10,943 12,891 Production payable 11,881 12,767 Taxes payable 6,709 5,350 Drilling advances 811 2,031 Accrued interest 123 539 Total accounts payable and accrued expenses $ 95,734 $ 111,797

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Credit Facility. On June 21, 2019, the Company amended and restated its existing $600.0 million reserve-based revolving credit facility. The initial borrowing base of the restated credit facility is $300.0 million, which was reduced from $350.0 million under the previous credit facility. The next borrowing base redetermination is scheduled for October 1, 2019 with semiannual redeterminations thereafter. The facility is also subject to an initial aggregate elected commitment of $270.0 million , which the Company may reduce or seek to increase in future periods in accordance with the terms of the restated credit facility. The restatement extended the credit facility maturity date to April 1, 2021 from March 31, 2020. The interest rate on outstanding borrowings was reduced from a pricing grid tied to the borrowing base utilization rate of (a) LIBOR plus an applicable margin that varies from 3.00% to 4.00% per annum, or (b) the base rate plus an applicable margin that varies from 2.00% to 3.00% per annum under the previous credit facility to a pricing grid tied to borrowing base utilization of (a) LIBOR plus an applicable margin that varies from 2.00% to 3.00% per annum, or (b) the base rate plus an applicable margin that varies from 1.00% to 2.00% per annum under the restated credit facility. Interest on base rate borrowings is payable quarterly in arrears and interest on LIBOR borrowings is payable every one, two, three or six months, at the election of the Company. Quarterly, the Company pays commitment fees assessed at annual rates of 0.50% on any available portion of the credit facility. The Company has the right to prepay loans under the credit facility at any time without a prepayment penalty, other than customary “breakage” costs with respect to LIBOR loans. The restated credit facility is secured by (i) first-priority mortgages on at least 85% of the PV-9 valuation of all proved reserves included in the most recently delivered reserve report of the Company, (ii) a first-priority perfected pledge of substantially all of the capital stock owned by each credit party and equity interests in the Royalty Trusts that are owned by a credit party and (iii) a first-priority perfected security interest in substantially all the cash, cash equivalents, deposits, securities and other similar accounts, and other tangible and intangible assets of the credit parties (including but not limited to as-extracted collateral, accounts receivable, inventory, equipment, general intangibles, investment property, intellectual property, real property and the proceeds of the foregoing). Other than reducing the proportion of the Company’s proved reserves required to be subject to first-priority mortgages to 85% from 95%, these terms are materially similar to those contained in the previously existing credit facility. The restated facility includes events of default and certain customary affirmative and negative covenants which are materially similar to those under the previous credit facility. The Company must also continue to maintain certain financial covenants including (i) a maximum consolidated total net leverage ratio, measured as of the end of any fiscal quarter, of no greater than 3.50 to 1.00 and (ii) a minimum consolidated interest coverage ratio, measured as of the end of any fiscal quarter, of no less than 2.25 to 1.00. As of June 30, 2019, the Company was in compliance with all applicable covenants and had a consolidated total net leverage ratio of 0.25 and consolidated interest coverage ratio of 63.13. The Company had $52.0 million outstanding under the credit facility at June 30, 2019, and $7.6 million in outstanding letters of credit, which reduce availability under the restated credit facility on a dollar-for-dollar basis. Building Note. In February 2018, the Company fully repaid a note secured by a mortgage on the Company's downtown Oklahoma City real estate (the "Building Note") in the amount of $36.3 million, which was comprised of an initial principal amount of $35.0 million and $1.3 million in in-kind interest costs that were previously added to the principal. An unamortized

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings. As previously disclosed, on May 16, 2016, the Company and certain of its direct and indirect subsidiaries (collectively, the "Debtors") filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). The Bankruptcy Court confirmed the joint plan of organization (the "Plan") of the Debtors on September 9, 2016, and the Debtors subsequently emerged from bankruptcy on October 4, 2016. Pursuant to the Plan, claims against the Company were discharged without recovery in each of the following consolidated cases (the “Cases”): • In re SandRidge Energy, Inc. Securities Litigation, Case No. 5:12-cv-01341-LRW, USDC, Western District of Oklahoma; and • Ivan Nibur, Lawrence Ross, Jase Luna, Matthew Willenbucher, and the Duane & Virginia Lanier Trust v. SandRidge Mississippian Trust I, et al., Case No. 5:15-cv-00634-SLP, USDC, Western District of Oklahoma The lead plaintiffs in both In re SandRidge Energy, Inc. Securities Litigation and Lanier Trust assert claims on behalf of themselves and a putative class of (i) in In re SandRidge Energy, Inc. Securities Litigation all purchasers of SandRidge common stock from February 24, 2011 and November 8, 2012 under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, and (ii) in Lanier Trust purchasers of SandRidge Mississippian Trust I and SandRidge Mississippian Trust II common units between April 7, 2011 and November 8, 2012 under Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, both based on allegations that defendants, which include certain former officers of the Company and the SandRidge Mississippian Trust I, made misrepresentations or omissions concerning various topics including the performance of wells operated by the Company in the Mississippian region. Discovery in each of the Cases closed on June 19, 2019. A hearing on class certification in each of the Cases has been scheduled for September 6, 2019. In each of the Cases, lead plaintiffs seek to recover unspecified damages, interest, costs and expenses incurred in the litigation on behalf of themselves and class members. Although the claims against the Company in each Case have been discharged pursuant to the Plan, the Company remains a nominal defendant in each of the Cases solely to the extent necessary to allow recovery from applicable insurance policies or proceeds. In addition, the Company owes indemnity obligations and/or the obligation to advance legal fees, to certain former officers who remain as defendants in each action. The Company may also be contractually obligated to indemnify the SandRidge Mississippian Trust I against losses, claims, damages, liabilities and expenses, including reasonable costs of investigation and attorney’s fees and expenses, arising out of the Cases, and such indemnification is not covered by insurance. In light of the status of the Cases, and the facts, circumstances and legal theories relating thereto, the Company is not able to determine the likelihood of an outcome in either case or provide an estimate of any reasonably possible loss or range of possible loss related thereto. However, considering the erosion of insurance coverage available to the Company, such losses, if incurred, could be material. The Company has not established any liabilities relating to the Cases and believes that the plaintiffs’ claims are without merit. The Company intends to continue to vigorously defend against the Cases in its capacity as a nominal defendant. In addition to the matters described above, the Company is involved in various lawsuits, claims and proceedings which are being handled and defended by the Company in the ordinary course of business.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For each interim reporting period, the Company estimates the effective tax rate expected for the full fiscal year and uses that estimated rate in providing for income taxes on a current year-to-date basis. Deferred income taxes are provided to reflect the future tax consequences of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The Company’s deferred tax assets have been reduced by a valuation allowance due to a determination 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. The Company continues to closely monitor and weigh all available evidence, including both positive and negative, in making its determination whether to maintain a valuation allowance. As a result of the significant weight placed on the Company's cumulative negative earnings position, the Company continued to maintain a full valuation allowance against its net deferred tax asset at June 30, 2019. Thus, the Company had no federal income tax expense or benefit for the three and six-month periods ended June 30, 2019 and 2018, and an insignificant amount of state income tax benefit for the three and six-month periods ended June 30, 2018. Internal Revenue Code (“IRC”) Section 382 addresses company ownership changes and specifically limits the utilization of certain deductions and other tax attributes on an annual basis following an ownership change. As a result of the Chapter 11 reorganization and related transactions, the Company experienced an ownership change within the meaning of IRC Section 382 during 2016 that subjected certain of the Company’s tax attributes, including net operating losses ("NOLs"), to an IRC Section 382 limitation. This limitation has not resulted in cash taxes for any period subsequent to the ownership change. Since the 2016 ownership change, the Company has generated additional NOLs and other tax attributes that are not currently subject to an IRC Section 382 limitation. The Company's ability to use NOLs and other tax attributes to reduce taxable income and income taxes could be materially impacted by a future IRC 382 ownership change. Future transactions involving the Company's stock including those outside of the Company's control could cause an IRC 382 ownership change resulting in a limitation on tax attributes currently not limited and a more restrictive limitation on tax attributes currently subject to the previous IRC 382 limitation. The Company’s only taxing jurisdiction is the United States (federal and state). The Company’s tax years 2015 to present remain open for federal examination. Additionally, tax years 2005 through 2014 remain subject to examination for determining the amount of remaining federal net operating loss and other carryforwards. The number of years open for state tax audits varies, depending on the state, but are generally from three five

Equity

Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Equity	Equity Common Stock, Performance Share Units, and Stock Options. At June 30, 2019, the Company had 35.8 million shares of common stock, par value $0.001 per share, issued and outstanding, including 0.3 million shares of unvested restricted stock awards, 0.3 million unvested stock options, 0.1 million unvested performance share units, and 250.0 million shares of common stock authorized. See Note 12 for further discussion of the Company’s restricted stock awards, performance share units, and stock options.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table disaggregates the Company’s revenue by source for the three and six-month periods ended June 30, 2019 and 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Oil $ 55,615 $ 49,219 $ 98,774 $ 102,554 NGL 9,413 16,946 22,524 33,335 Natural gas 10,168 13,139 26,946 30,381 Other 192 158 380 320 Total revenues $ 75,388 $ 79,462 148,624 $ 166,590 Oil, natural gas and NGL revenues. A majority of the Company’s revenues come from sales of oil, natural gas and NGLs and are recorded at a point in time when control of the oil, natural gas and NGL production passes to the customer at the inlet of the processing plant or pipeline, or the delivery point for onloading to a delivery truck. As the Company’s customers obtain control of the production prior to selling it to other end customers, the Company presents its revenues on a net basis, rather than on a gross basis. Pricing for the Company’s oil, natural gas and NGL contracts is variable and is based on volumes sold multiplied by either an index price, net of deductions, or a percentage of the sales price obtained by the customer, which is also based on index prices. The transaction price is allocated on a pro-rata basis to each unit of oil, natural gas or NGL sold based on the terms of the contract. Oil, natural gas and NGL revenues are also recorded net of royalties, discounts and allowances, and transportation costs, as applicable. Taxes assessed by governmental authorities on oil, natural gas and NGL sales are presented separately from revenues and are included in production tax expense in the consolidated statements of operations. Payment terms are typically within 30 days of control being transferred. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed. Revenues Receivable. The Company records an asset in accounts receivable, net on its consolidated balance sheet for revenues receivable from contracts with customers at the end of each period. Pricing for revenues receivable is estimated using current month crude oil, natural gas and NGL prices, net of deductions. Revenues receivable are typically collected the month after the Company delivers the related production to its customers. As of June 30, 2019, and December 31, 2018, the Company had revenues receivable of $23.3 million and $31.8 million, respectively, and did not record any bad debt expense on revenues receivable during the three and six-month periods ended June 30, 2019.

Share and Incentive-Based Compe

Share and Incentive-Based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Share and Incentive-Based Compensation	Share and Incentive-Based Compensation Share-Based Compensation Omnibus Incentive Plan. The Company's Omnibus Incentive Plan became effective in October 2016. The Omnibus Incentive Plan authorizes the issuance of up to 4.6 million shares of SandRidge common stock to eligible persons including non-employee directors of the Company, employees of the Company or any of its affiliates, and certain consultants and advisers to the Company or any of its affiliates. At June 30, 2019, the Company had restricted stock awards and an immaterial amount of performance share units and stock options outstanding under the Omnibus Incentive Plan. Vesting for certain restricted stock awards and performance share units was accelerated in connection with the departure of certain executives and reductions in force which occurred during the three and six-month periods ended June 30, 2019 and the six-month period ended June 30, 2018. Vesting for certain restricted stock awards, performance share units and performance units was accelerated in the second quarter of 2018 in connection with the change in the composition of the Board after the 2018 annual meeting. Restricted Stock Awards. The Company’s restricted stock awards are equity-classified awards and are valued based upon the market value of the Company’s common stock on the date of grant. Outstanding restricted shares will generally vest over either a one three The following tables summarize share and incentive-based compensation for the three and six-month periods ended June 30, 2019, and 2018 (in thousands): Recurring Compensation Expense(1) Executive Terminations(2)(3) Reduction in Force(2)(3) Accelerated Vesting(4) Total Three Months Ended June 30, 2019 Equity-classified awards: Restricted stock awards $ 829 $ 197 $ 501 $ — $ 1,527 Performance share units 189 281 — — 470 Stock options 193 — — — 193 Total share-based compensation expense 1,211 478 501 — 2,190 Less: Capitalized compensation expense (62) — — — (62) Share-based compensation expense, net $ 1,149 $ 478 $ 501 $ — $ 2,128 Three Months Ended June 30, 2018 Equity-classified awards: Restricted stock awards $ 603 $ — $ 92 $ 5,181 $ 5,876 Performance share units 31 82 7 610 730 Total share-based compensation expense 634 82 99 5,791 6,606 Liability-classified awards: Performance units 227 (216) (31) 1,309 1,289 Total share and incentive-based compensation expense 861 (134) 68 7,100 7,895 Less: Capitalized compensation expense (124) — — (555) (679) Share and incentive-based compensation expense, net $ 737 $ (134) $ 68 $ 6,545 $ 7,216 ____________________ 1. Recorded in general and administrative expense in the accompanying consolidated statements of operations. 2. Recorded in employee termination benefits in the accompanying consolidated statements of operations. 3. Three-month period ended June 30, 2018, includes an adjustment to first quarter 2018 accrued share and incentive-based compensation to reflect actuals paid. 4. Recorded in accelerated vesting of employment compensation in the accompanying consolidated statements of operations. Recurring Compensation Expense(1) Executive Terminations(2)(3) Reduction in Force(2)(3) Accelerated Vesting(4) Total Six Months Ended June 30, 2019 Equity-classified awards: Restricted stock awards $ 1,574 $ 197 $ 501 $ — $ 2,272 Performance share units 387 281 — — 668 Stock options 323 — — — 323 Total share-based compensation expense 2,284 478 501 — 3,263 Less: Capitalized compensation expense (139) — — — (139) Share-based compensation expense, net $ 2,145 $ 478 $ 501 $ — $ 3,124 Six Months Ended June 30, 2018 Equity-classified awards: Restricted stock awards $ 3,379 $ 8,140 $ 3,777 $ 5,181 $ 20,477 Performance share units 359 1,056 158 610 2,183 Total share-based compensation expense 3,738 9,196 3,935 5,791 22,660 Liability-classified awards: Performance units 756 2,151 558 1,309 4,774 Total share and incentive-based compensation expense 4,494 11,347 4,493 7,100 27,434 Less: Capitalized compensation expense (334) — — (555) (889) Share and incentive-based compensation expense, net $ 4,160 $ 11,347 $ 4,493 $ 6,545 $ 26,545 ____________________ 1. Recorded in general and administrative expense in the accompanying consolidated statements of operations. 2. Recorded in employee termination benefits in the accompanying consolidated statements of operations. 3. Six-month period ended June 30, 2018, includes an adjustment to first quarter 2018 accrued share and incentive-based compensation to reflect actuals paid. 4. Recorded in accelerated vesting of employment compensation in the accompanying consolidated statements of operations.

Employee Termination Benefits

Employee Termination Benefits	6 Months Ended
	Jun. 30, 2019
Postemployment Benefits [Abstract]
Employee Termination Benefits	Employee Termination Benefits The following table presents a summary of employee termination benefits for the three and six-month periods ended June 30, 2019 and 2018 (in thousands): Cash Share-Based Compensation (5) Number of Shares Total Employee Termination Benefits Three Months Ended June 30, 2019 Executive Employee Termination Benefits (1) $ 877 $ 478 37 $ 1,355 Other Employee Termination Benefits (2) 2,609 501 44 3,110 $ 3,486 $ 979 81 $ 4,465 Three Months Ended June 30, 2018 Executive Employee Termination Benefits $ — $ 82 — $ 82 Other Employee Termination Benefits 862 99 — 961 $ 862 $ 181 — $ 1,043 Six Months Ended June 30, 2019 Executive Employee Termination Benefits (1) $ 877 $ 478 37 $ 1,355 Other Employee Termination Benefits (2) 2,609 501 44 3,110 $ 3,486 $ 979 81 $ 4,465 Six Months Ended June 30, 2018 Executive Employee Termination Benefits (3) $ 11,945 $ 9,196 554 $ 21,141 Other Employee Termination Benefits (4) 7,554 3,935 209 11,489 $ 19,499 $ 13,131 763 $ 32,630 ____________________ 1. On June 14, 2019, the Company’s then current Executive Vice President, General Counsel and Corporate Secretary, Philip Warman, separated employment from the Company. As a result, the Company paid cash severance costs and incurred share-based compensation costs associated with this separation during the second quarter of 2019. 2. As a result of a reduction in workforce in the second quarter of 2019, certain employees received termination benefits including cash severance and accelerated share-based compensation upon separation of service from the Company. 3. On February 8, 2018, the Company’s then current chief executive officer ("CEO"), James Bennett, separated employment from the Company, and on February 22, 2018, the Company’s then current chief financial officer ("CFO"), Julian Bott, also separated employment from the Company. As a result, the Company paid cash severance costs and incurred share-based compensation costs associated with these separations during the first quarter of 2018. 4. As a result of a reduction in workforce in the first quarter of 2018, certain employees received termination benefits including cash severance and accelerated share-based and incentive compensation upon separation of service from the Company. 5. Share-based compensation recognized in connection with the accelerated vesting of restricted stock awards and performance share units upon the departure of certain executives and the reductions in workforce in the first quarter of 2018 and second quarter of 2019 reflects the remaining unrecognized compensation expense associated with these awards at the date of termination. The unrecognized compensation expense was calculated using the grant date fair value for restricted stock awards and performance share units. One share of the Company’s common stock was issued per performance share unit. Other employee termination benefits for the three and six-month periods ended June 30, 2018, includes an adjustment to first quarter 2018 accrued share-based compensation to reflect actuals paid. See Note 12 for additional discussion of the Company’s share-based compensation awards.

Loss per Share

Loss per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Loss per Share	Loss per Share The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted loss per share: Net Loss Weighted Average Shares Loss Per Share (In thousands, except per share amounts) Three Months Ended June 30, 2019 Basic loss per share $ (13,284) 35,356 $ (0.38) Effect of dilutive securities Restricted stock awards(1) — — Performance share units(1) — — Warrants(1) — — Stock options(1) — — Diluted loss per share $ (13,284) $ 35,356 $ (0.38) Three Months Ended June 30, 2018 Basic loss per share $ (34,074) 35,017 $ (0.97) Effect of dilutive securities Restricted stock awards(2) — — Performance share units(3) — — Warrants(4) — — Diluted loss per share $ (34,074) 35,017 $ (0.97) Six Months Ended June 30, 2019 Basic loss per share $ (18,561) 35,339 $ (0.53) Effect of dilutive securities Restricted stock awards(1) — — Performance share units(1) — — Warrants(1) — — Stock options(1) — — Diluted loss per share $ (18,561) 35,339 $ (0.53) Six Months Ended June 30, 2018 Basic loss per share $ (74,968) 34,800 $ (2.15) Effect of dilutive securities Restricted stock awards(5) — — Performance share units(3) — — Warrants(4) — — Diluted loss per share $ (74,968) 34,800 $ (2.15) ____________________ 1. No incremental shares of potentially dilutive restricted stock awards, performance share units, warrants or stock options were included for the three and six-month periods ended June 30, 2019, as their effect was antidilutive under the treasury stock method. 2. No incremental shares of potentially dilutive restricted stock awards were included for the three-month period ended June 30, 2018, as their effect was antidilutive under the treasury stock method. 3. Performance share units covering an insignificant amount of shares for the three and six-month periods ended June 30, 2018, were excluded from the computation of loss per share because their effect would have been antidilutive. 4. No incremental shares of potentially dilutive warrants were included for the three or six-month periods ended June 30, 2018, as their effect was antidilutive under the treasury stock method. 5. Restricted stock awards covering an insignificant amount of shares for the six-month period ended June 30, 2018, were excluded from the computation of loss per share because their effect would have been antidilutive. See Note 12 for discussion of the Company’s share-based compensation awards.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business. SandRidge Energy, Inc. is an oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma with a principal focus on the acquisition, exploration and development of hydrocarbon resources in the United States.
Principles of Consolidation	Principles of Consolidation. The consolidated financial statements include the accounts of the Company and its wholly owned or majority owned subsidiaries, including its proportionate share of the Royalty Trusts. All intercompany accounts and transactions have been eliminated in consolidation.
Interim Financial Statements	Interim Financial Statements. The accompanying unaudited condensed consolidated financial statements and notes should be read in conjunction with the audited financial statements and notes contained in the Company’s 2018 Form 10-K. Certain information and 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, the financial statements include all adjustments, which consist of normal recurring adjustments unless otherwise disclosed, necessary to fairly state the Company’s unaudited condensed consolidated financial statements.
Significant Accounting Policies	Significant Accounting Policies. The unaudited condensed consolidated financial statements were prepared in accordance with the accounting policies stated in the 2018 Form 10-K as well as the items noted below.
Reclassifications	Reclassifications. Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. These reclassifications have no effect on the Company’s previously reported results of operations.
Use of Estimates	Use of Estimates. The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of assumptions, judgments and estimates include: oil, natural gas and natural gas liquids (“NGL”) reserves; impairment tests of long-lived assets; asset retirement obligations; depreciation, depletion and amortization; income taxes; valuation of derivative instruments; contingencies; and accrued revenue and related receivables. In the second quarter of 2019, the Company revised estimated retirement dates for certain Mid-Continent properties. These revisions resulted in the reclassification of $9.7 million in asset retirement obligations from current liabilities to long-term obligations on the accompanying condensed consolidated balance sheet as of June 30, 2019. Although management believes the estimates used in the areas noted above are reasonable, actual results could differ significantly.
Recent Accounting Pronouncements	Recent Accounting Pronouncements. In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, “Leases (Topic 842),” and subsequently issued other associated ASU's related to Topic 842 which supersede Accounting Standards Codification ("ASC") 840 and require lessees to recognize right of use ("ROU") lease assets and liabilities on the balance sheet for long-term leases formerly classified as operating leases under ASC 840, and to disclose key information about leasing arrangements. The Company adopted this ASU on January 1, 2019 using a modified retrospective approach for all ROU leases that existed at the period of adoption and did not restate its comparative periods. See Note 4 for additional discussion of the new leasing standard. Recent Accounting Pronouncements Not Yet Adopted. The FASB issued ASU 2016-13, “Financial Instruments —Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments,” which changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace the currently required incurred loss approach with an expected loss model for instruments measured at amortized cost. The standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted for the interim and annual periods beginning after December 31, 2018, and will be applied using a modified retrospective approach resulting in a cumulative effect adjustment to retained earnings upon adoption. The Company does not plan to early adopt and is currently evaluating the effect the guidance will have on its consolidated financial statements; however, the impact is not expected to be material.
Leases	In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842),” and subsequently issued other associated ASU's related to Topic 842 which supersede ASC 840 and require lessees to recognize ROU lease assets and liabilities on the balance sheet for long-term leases formerly classified as operating leases under ASC 840, and to disclose key information about leasing arrangements. Leases to explore for or produce oil and natural gas were not impacted by this guidance. This ASU became effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company adopted this ASU on January 1, 2019 using a modified retrospective approach for all ROU leases that existed at the period of adoption and did not restate its comparative periods. Topic 842 provides a number of practical expedients to assist with the transition to the new standard. The Company elected the 'package of practical expedients,' and therefore did not have to reassess prior conclusions about lease identification, lease classification and initial indirect costs. The Company also utilized the land easement practical expedient and short-term lease recognition exemption, under which leases with initial terms less than 12 months are not required to be presented on the balance sheet. Certain leases contain both lease and non-lease components. The Company elected the practical expedient to combine lease and non-lease components for asset classes including drilling rigs, compressors and various office equipment. The Company determines if an arrangement is or contains a lease at inception. A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Lease liabilities are recognized based on the present value of the lease payments not yet paid over the lease term at January 1, 2019 for existing leases and at the commencement date for any new leases entered into subsequent to January 1, 2019. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate was used as the discount rate when determining the present value of future payments. The ROU assets are recognized based on the lease liability plus any prepaid lease payments and excluding lease incentives and initial direct costs incurred for the same periods. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that option will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.
Short-term Leases	The Company also utilized the land easement practical expedient and short-term lease recognition exemption, under which leases with initial terms less than 12 months are not required to be presented on the balance sheet.
Separation of Lease and Nonlease Components	The Company elected the practical expedient to combine lease and non-lease components for asset classes including drilling rigs, compressors and various office equipment.
Oil, natural gas and NGL revenues	Oil, natural gas and NGL revenues. A majority of the Company’s revenues come from sales of oil, natural gas and NGLs and are recorded at a point in time when control of the oil, natural gas and NGL production passes to the customer at the inlet of the processing plant or pipeline, or the delivery point for onloading to a delivery truck. As the Company’s customers obtain control of the production prior to selling it to other end customers, the Company presents its revenues on a net basis, rather than on a gross basis. Pricing for the Company’s oil, natural gas and NGL contracts is variable and is based on volumes sold multiplied by either an index price, net of deductions, or a percentage of the sales price obtained by the customer, which is also based on index prices. The transaction price is allocated on a pro-rata basis to each unit of oil, natural gas or NGL sold based on the terms of the contract. Oil, natural gas and NGL revenues are also recorded net of royalties, discounts and allowances, and transportation costs, as applicable. Taxes assessed by governmental authorities on oil, natural gas and NGL sales are presented separately from revenues and are included in production tax expense in the consolidated statements of operations. Payment terms are typically within 30 days of control being transferred. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured on Recurring Basis	The following table summarizes the Company’s assets measured at fair value on a recurring basis by the fair value hierarchy as of December 31, 2018 (in thousands): December 31, 2018 Fair Value Measurements Netting(1) Assets/Liabilities at Fair Value Level 1 Level 2 Level 3 Assets Commodity derivative contracts $ — $ 5,286 $ — $ — $ 5,286 $ — $ 5,286 $ — $ — $ 5,286 ____________________ 1. Represents the effect of netting assets and liabilities for counterparties with which the right of offset exists.

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	The following table summarizes derivative activity for the three and six-month periods ended June 30, 2019, and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Loss on commodity derivative contracts $ — $ 30,104 $ 209 $ 48,434 Cash paid (received) on settlements $ — $ 11,274 $ (5,078) $ 17,393
Offsetting Assets and Liabilities	The following table summarizes (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements and (iii) for the Company’s net derivative liability positions, the applicable portion of shared collateral under the credit facility as of December 31, 2018 (in thousands): December 31, 2018 Gross Amounts Gross Amounts Offset Amounts Net of Offset Financial Collateral Net Amount Assets Derivative contracts - current $ 5,286 $ — $ 5,286 $ — $ 5,286 Total $ 5,286 $ — $ 5,286 $ — $ 5,286
Fair Value of Derivatives	The following table presents the fair value of the Company’s derivative contracts as of December 31, 2018, on a gross basis without regard to same-counterparty netting (in thousands): Type of Contract Balance Sheet Classification December 31, 2018 Derivative assets Natural gas price swaps Derivative contracts-current $ 5,286 Total net derivative contracts $ 5,286

Leases (Table)

Leases (Table)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lease, Cost	The components of lease costs recognized for the Company's ROU leases are shown below: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Short-term lease cost (1) $ 3,174 $ 8,083 Financing lease cost 348 645 Operating lease cost 43 101 Total lease cost $ 3,565 $ 8,829 ___________________ 1. $1.9 million and $5.1 million of short-term lease cost was capitalized as part of oil and natural gas properties during the three and six-month periods ended June 30, 2019, respectively. Portions of these costs were reimbursed to the Company by other working interest owners.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consists of the following (in thousands): June 30, December 31, 2018 Oil and natural gas properties Proved $ 1,390,054 $ 1,269,091 Unproved 46,274 60,152 Total oil and natural gas properties 1,436,328 1,329,243 Less accumulated depreciation, depletion and impairment (652,709) (580,132) Net oil and natural gas properties 783,619 749,111 Land 4,400 4,400 Electrical infrastructure 131,176 131,176 Other non-oil and natural gas equipment 13,327 13,458 Buildings and structures 77,148 77,148 Financing leases 2,083 — Total 228,134 226,182 Less accumulated depreciation and amortization (30,428) (25,344) Other property, plant and equipment, net 197,706 200,838 Total property, plant and equipment, net $ 981,325 $ 949,949

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consist of the following (in thousands): June 30, December 31, 2018 Accounts payable and other accrued expenses $ 65,267 $ 78,219 Payroll and benefits 10,943 12,891 Production payable 11,881 12,767 Taxes payable 6,709 5,350 Drilling advances 811 2,031 Accrued interest 123 539 Total accounts payable and accrued expenses $ 95,734 $ 111,797

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates the Company’s revenue by source for the three and six-month periods ended June 30, 2019 and 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Oil $ 55,615 $ 49,219 $ 98,774 $ 102,554 NGL 9,413 16,946 22,524 33,335 Natural gas 10,168 13,139 26,946 30,381 Other 192 158 380 320 Total revenues $ 75,388 $ 79,462 148,624 $ 166,590

Share and Incentive-Based Com_2

Share and Incentive-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Share and Incentive-based Compensation	The following tables summarize share and incentive-based compensation for the three and six-month periods ended June 30, 2019, and 2018 (in thousands): Recurring Compensation Expense(1) Executive Terminations(2)(3) Reduction in Force(2)(3) Accelerated Vesting(4) Total Three Months Ended June 30, 2019 Equity-classified awards: Restricted stock awards $ 829 $ 197 $ 501 $ — $ 1,527 Performance share units 189 281 — — 470 Stock options 193 — — — 193 Total share-based compensation expense 1,211 478 501 — 2,190 Less: Capitalized compensation expense (62) — — — (62) Share-based compensation expense, net $ 1,149 $ 478 $ 501 $ — $ 2,128 Three Months Ended June 30, 2018 Equity-classified awards: Restricted stock awards $ 603 $ — $ 92 $ 5,181 $ 5,876 Performance share units 31 82 7 610 730 Total share-based compensation expense 634 82 99 5,791 6,606 Liability-classified awards: Performance units 227 (216) (31) 1,309 1,289 Total share and incentive-based compensation expense 861 (134) 68 7,100 7,895 Less: Capitalized compensation expense (124) — — (555) (679) Share and incentive-based compensation expense, net $ 737 $ (134) $ 68 $ 6,545 $ 7,216 ____________________ 1. Recorded in general and administrative expense in the accompanying consolidated statements of operations. 2. Recorded in employee termination benefits in the accompanying consolidated statements of operations. 3. Three-month period ended June 30, 2018, includes an adjustment to first quarter 2018 accrued share and incentive-based compensation to reflect actuals paid. 4. Recorded in accelerated vesting of employment compensation in the accompanying consolidated statements of operations. Recurring Compensation Expense(1) Executive Terminations(2)(3) Reduction in Force(2)(3) Accelerated Vesting(4) Total Six Months Ended June 30, 2019 Equity-classified awards: Restricted stock awards $ 1,574 $ 197 $ 501 $ — $ 2,272 Performance share units 387 281 — — 668 Stock options 323 — — — 323 Total share-based compensation expense 2,284 478 501 — 3,263 Less: Capitalized compensation expense (139) — — — (139) Share-based compensation expense, net $ 2,145 $ 478 $ 501 $ — $ 3,124 Six Months Ended June 30, 2018 Equity-classified awards: Restricted stock awards $ 3,379 $ 8,140 $ 3,777 $ 5,181 $ 20,477 Performance share units 359 1,056 158 610 2,183 Total share-based compensation expense 3,738 9,196 3,935 5,791 22,660 Liability-classified awards: Performance units 756 2,151 558 1,309 4,774 Total share and incentive-based compensation expense 4,494 11,347 4,493 7,100 27,434 Less: Capitalized compensation expense (334) — — (555) (889) Share and incentive-based compensation expense, net $ 4,160 $ 11,347 $ 4,493 $ 6,545 $ 26,545 ____________________ 1. Recorded in general and administrative expense in the accompanying consolidated statements of operations. 2. Recorded in employee termination benefits in the accompanying consolidated statements of operations. 3. Six-month period ended June 30, 2018, includes an adjustment to first quarter 2018 accrued share and incentive-based compensation to reflect actuals paid. 4. Recorded in accelerated vesting of employment compensation in the accompanying consolidated statements of operations.

Employee Termination Benefits (

Employee Termination Benefits (Tables)	6 Months Ended
	Jun. 30, 2019
Postemployment Benefits [Abstract]
Schedule of Postemployment Benefits	The following table presents a summary of employee termination benefits for the three and six-month periods ended June 30, 2019 and 2018 (in thousands): Cash Share-Based Compensation (5) Number of Shares Total Employee Termination Benefits Three Months Ended June 30, 2019 Executive Employee Termination Benefits (1) $ 877 $ 478 37 $ 1,355 Other Employee Termination Benefits (2) 2,609 501 44 3,110 $ 3,486 $ 979 81 $ 4,465 Three Months Ended June 30, 2018 Executive Employee Termination Benefits $ — $ 82 — $ 82 Other Employee Termination Benefits 862 99 — 961 $ 862 $ 181 — $ 1,043 Six Months Ended June 30, 2019 Executive Employee Termination Benefits (1) $ 877 $ 478 37 $ 1,355 Other Employee Termination Benefits (2) 2,609 501 44 3,110 $ 3,486 $ 979 81 $ 4,465 Six Months Ended June 30, 2018 Executive Employee Termination Benefits (3) $ 11,945 $ 9,196 554 $ 21,141 Other Employee Termination Benefits (4) 7,554 3,935 209 11,489 $ 19,499 $ 13,131 763 $ 32,630 ____________________ 1. On June 14, 2019, the Company’s then current Executive Vice President, General Counsel and Corporate Secretary, Philip Warman, separated employment from the Company. As a result, the Company paid cash severance costs and incurred share-based compensation costs associated with this separation during the second quarter of 2019. 2. As a result of a reduction in workforce in the second quarter of 2019, certain employees received termination benefits including cash severance and accelerated share-based compensation upon separation of service from the Company. 3. On February 8, 2018, the Company’s then current chief executive officer ("CEO"), James Bennett, separated employment from the Company, and on February 22, 2018, the Company’s then current chief financial officer ("CFO"), Julian Bott, also separated employment from the Company. As a result, the Company paid cash severance costs and incurred share-based compensation costs associated with these separations during the first quarter of 2018. 4. As a result of a reduction in workforce in the first quarter of 2018, certain employees received termination benefits including cash severance and accelerated share-based and incentive compensation upon separation of service from the Company. 5. Share-based compensation recognized in connection with the accelerated vesting of restricted stock awards and performance share units upon the departure of certain executives and the reductions in workforce in the first quarter of 2018 and second quarter of 2019 reflects the remaining unrecognized compensation expense associated with these awards at the date of termination. The unrecognized compensation expense was calculated using the grant date fair value for restricted stock awards and performance share units. One share of the Company’s common stock was issued per performance share unit. Other employee termination benefits for the three and six-month periods ended June 30, 2018, includes an adjustment to first quarter 2018 accrued share-based compensation to reflect actuals paid.

Loss per Share (Tables)

Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Calculation of Weighted Average Common Shares Outstanding Used in Computation of Diluted (Loss) Earnings Per Share	The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted loss per share: Net Loss Weighted Average Shares Loss Per Share (In thousands, except per share amounts) Three Months Ended June 30, 2019 Basic loss per share $ (13,284) 35,356 $ (0.38) Effect of dilutive securities Restricted stock awards(1) — — Performance share units(1) — — Warrants(1) — — Stock options(1) — — Diluted loss per share $ (13,284) $ 35,356 $ (0.38) Three Months Ended June 30, 2018 Basic loss per share $ (34,074) 35,017 $ (0.97) Effect of dilutive securities Restricted stock awards(2) — — Performance share units(3) — — Warrants(4) — — Diluted loss per share $ (34,074) 35,017 $ (0.97) Six Months Ended June 30, 2019 Basic loss per share $ (18,561) 35,339 $ (0.53) Effect of dilutive securities Restricted stock awards(1) — — Performance share units(1) — — Warrants(1) — — Stock options(1) — — Diluted loss per share $ (18,561) 35,339 $ (0.53) Six Months Ended June 30, 2018 Basic loss per share $ (74,968) 34,800 $ (2.15) Effect of dilutive securities Restricted stock awards(5) — — Performance share units(3) — — Warrants(4) — — Diluted loss per share $ (74,968) 34,800 $ (2.15) ____________________ 1. No incremental shares of potentially dilutive restricted stock awards, performance share units, warrants or stock options were included for the three and six-month periods ended June 30, 2019, as their effect was antidilutive under the treasury stock method. 2. No incremental shares of potentially dilutive restricted stock awards were included for the three-month period ended June 30, 2018, as their effect was antidilutive under the treasury stock method. 3. Performance share units covering an insignificant amount of shares for the three and six-month periods ended June 30, 2018, were excluded from the computation of loss per share because their effect would have been antidilutive. 4. No incremental shares of potentially dilutive warrants were included for the three or six-month periods ended June 30, 2018, as their effect was antidilutive under the treasury stock method. 5. Restricted stock awards covering an insignificant amount of shares for the six-month period ended June 30, 2018, were excluded from the computation of loss per share because their effect would have been antidilutive.

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Change in Accounting Estimate [Line Items]
Asset retirement obligation, current	$ 14,820	$ 25,393
Asset retirement obligations, noncurrent	46,176	$ 34,671
Service Life
Change in Accounting Estimate [Line Items]
Asset retirement obligation, current	(9,700)
Asset retirement obligations, noncurrent	$ 9,700

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) $ in Thousands	Dec. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	$ 5,286
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis
Netting adjustments, assets	0
Assets at fair value	5,286
Fair Value, Measurements, Recurring | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis
Netting adjustments, assets	0
Assets at fair value	5,286
Fair Value, Measurements, Recurring | Fair Value Measurements Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 1 | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	5,286
Fair Value, Measurements, Recurring | Fair Value Measurements Level 2 | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	5,286
Fair Value, Measurements, Recurring | Fair Value Measurements Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 3 | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	$ 0

Derivatives - Derivative Activi

Derivatives - Derivative Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure
Loss on derivative contracts	$ 0	$ 30,104	$ 209	$ 48,434
Cash paid (received) on settlements			(5,078)	17,393
Commodity derivative contracts
Derivative Instruments and Hedging Activities Disclosure
Loss on derivative contracts	0	30,104	209	48,434
Cash paid (received) on settlements	$ 0	$ 11,274	$ (5,078)	$ 17,393

Derivatives - Offsetting Assets

Derivatives - Offsetting Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2018USD ($)
Assets
Derivative assets, gross amounts	$ 5,286
Derivative assets, gross amounts offset	0
Derivative assets, amounts net of offset	5,286
Financial collateral (obligation to return cash)	0
Derivative assets, net amount	5,286
Current assets
Assets
Derivative assets, gross amounts	5,286
Derivative assets, gross amounts offset	0
Derivative assets, amounts net of offset	5,286
Financial collateral (obligation to return cash)	0
Derivative assets, net amount	$ 5,286

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Contracts (Details) $ in Thousands	Dec. 31, 2018USD ($)
Derivatives, Fair Value
Derivative assets	$ 5,286
Total net derivative contracts	5,286
Current assets
Derivatives, Fair Value
Derivative assets	5,286
Natural gas price swaps | Current assets
Derivatives, Fair Value
Derivative assets	$ 5,286

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Short-term lease cost	$ 3,174	$ 8,083
Financing lease cost	348	645
Operating lease cost	43	101
Total lease cost	3,565	8,829
Short-term lease, cost, capitalized	$ 1,900	$ 5,100
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Right-of-use asset			$ 2,300
Finance lease, liability			$ 2,400

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Oil and natural gas properties
Proved	$ 1,390,054	$ 1,269,091
Unproved	46,274	60,152
Total oil and natural gas properties	1,436,328	1,329,243
Less: accumulated depreciation, depletion and impairment	(652,709)	(580,132)
Net oil and natural gas properties	783,619	749,111
Property, Plant and Equipment, net
Property, plant and equipment, gross	228,134	226,182
Less accumulated depreciation and amortization	(30,428)	(25,344)
Other property, plant and equipment, net	197,706	200,838
Total property, plant and equipment, net	981,325	949,949
Land
Property, Plant and Equipment, net
Property, plant and equipment, gross	4,400	4,400
Electrical infrastructure
Property, Plant and Equipment, net
Property, plant and equipment, gross	131,176	131,176
Other non-oil and natural gas equipment
Property, Plant and Equipment, net
Property, plant and equipment, gross	13,327	13,458
Buildings and structures
Property, Plant and Equipment, net
Property, plant and equipment, gross	77,148	77,148
Financing leases
Property, Plant and Equipment, net
Property, plant and equipment, gross	$ 2,083	$ 0

Property, Plant and Equipment_2

Property, Plant and Equipment - Narrative (Details) - Midstream Generator Assets - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Property, Plant and Equipment
Assets held-for-sale			$ 5,700,000
Net realizable value of assets held for sale			$ 1,600,000
Impairment of assets to be disposed of		$ 4,100,000
Gain (loss) on sale of assets and asset impairment charges	$ 0

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Accounts payable and other accrued expenses	$ 65,267	$ 78,219
Payroll and benefits	10,943	12,891
Production payable	11,881	12,767
Taxes payable	6,709	5,350
Drilling advances	811	2,031
Accrued interest	123	539
Total accounts payable and accrued expenses	$ 95,734	$ 111,797

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Jun. 21, 2019	Jun. 20, 2019	Feb. 28, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Instrument
Repayments of borrowings						$ 60,596,000	$ 36,304,000
Gain on extinguishment of debt				$ 0	$ 0	0	1,151,000
Credit Facility | Revolving Credit Facility
Debt Instrument
Maximum borrowing capacity	$ 600,000,000	$ 350,000,000
Borrowing base	$ 300,000,000
Lender party commitments				$ 270,000,000		$ 270,000,000
Commitment fee						0.50%
Percentage of proved reserves pledged as collateral		95.00%		85.00%		85.00%
Total net leverage ratio (no greater than)				3.50		3.50
Interest coverage ratio (no less than)				2.25		2.25
Leverage ratio				0.25		0.25
Coverage ratio				63.13		63.13
Debt outstanding				$ 52,000,000		$ 52,000,000
Outstanding letters of credit				$ 7,600,000		$ 7,600,000
Credit Facility | Revolving Credit Facility | Minimum | LIBOR
Debt Instrument
Basis spread on variable rate	2.00%	3.00%
Credit Facility | Revolving Credit Facility | Minimum | Base Rate
Debt Instrument
Basis spread on variable rate	1.00%	2.00%
Credit Facility | Revolving Credit Facility | Maximum | LIBOR
Debt Instrument
Basis spread on variable rate	3.00%	4.00%
Credit Facility | Revolving Credit Facility | Maximum | Base Rate
Debt Instrument
Basis spread on variable rate	2.00%	3.00%
New Building Note | Secured Notes
Debt Instrument
Repayments of borrowings			$ 36,300,000
Face amount of debt instrument			35,000,000
Interest costs paid-in-kind			$ 1,300,000
Gain on extinguishment of debt							$ 1,200,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	6 Months Ended
	Jun. 30, 2019
Minimum
Income Taxes
Number of tax years open for state tax audit (in years)	3 years
Maximum
Income Taxes
Number of tax years open for state tax audit (in years)	5 years

Equity - Narrative (Details)

Equity - Narrative (Details) - $ / shares	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Class of Stock
Common stock, shares issued (in shares)	35,762,000	35,687,000
Common stock, shares outstanding (in shares)	35,762,000	35,687,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Unvested options (in shares)	300,000
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Series A Warrants
Class of Stock
Plan of reorganization, equity interest issuable (in shares)	4,600,000
Number of common shares exercised for each warrant (in shares)	1
Exercise price (in usd per share)	$ 41.34
Series B Warrants
Class of Stock
Plan of reorganization, equity interest issuable (in shares)	2,000,000
Number of common shares exercised for each warrant (in shares)	1
Exercise price (in usd per share)	$ 42.03
Restricted Stock
Class of Stock
Unvested awards (in shares)	300,000
Performance Share Units
Class of Stock
Unvested awards (in shares)	100,000

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue
Total revenues	$ 75,388	$ 79,462	$ 148,624	$ 166,590
Oil
Disaggregation of Revenue
Total revenues	55,615	49,219	98,774	102,554
NGL
Disaggregation of Revenue
Total revenues	9,413	16,946	22,524	33,335
Natural gas
Disaggregation of Revenue
Total revenues	10,168	13,139	26,946	30,381
Other
Disaggregation of Revenue
Total revenues	$ 192	$ 158	$ 380	$ 320

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Revenue Receivable from Contract With Customers
Revenues Receivable from Customer
Revenues receivable	$ 23.3	$ 31.8

Share and Incentive-Based Com_3

Share and Incentive-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2019	Oct. 31, 2016
Share and Incentive Based Compensation Arrangement
Shares authorized for issuance (in shares)		4.6
Restricted Stock
Share and Incentive Based Compensation Arrangement
Unvested awards (in shares)	0.3
Weighted average grant date fair value	$ 13.56
Compensation yet not yet recognized	$ 3.1
Compensation yet not yet recognized period	1 year 8 months 12 days
Minimum | Restricted Stock
Share and Incentive Based Compensation Arrangement
Vesting period	1 year
Maximum | Restricted Stock
Share and Incentive Based Compensation Arrangement
Vesting period	3 years

Share and Incentive-Based Com_4

Share and Incentive-Based Compensation - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	$ 2,190	$ 6,606	$ 3,263	$ 22,660
Liability-classified awards compensation expense, Performance units		1,289		4,774
Total share and incentive-based compensation expense		7,895		27,434
Less: Capitalized compensation expense	(62)	(679)	(139)	(889)
Share-based compensation expense, net	2,128	7,216	3,124	26,545
Recurring Compensation Expense
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	1,211	634	2,284	3,738
Liability-classified awards compensation expense, Performance units		227		756
Total share and incentive-based compensation expense		861		4,494
Less: Capitalized compensation expense	(62)	(124)	(139)	(334)
Share-based compensation expense, net	1,149	737	2,145	4,160
Executive Terminations
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	478	82	478	9,196
Liability-classified awards compensation expense, Performance units		(216)		2,151
Total share and incentive-based compensation expense		(134)		11,347
Less: Capitalized compensation expense	0	0	0	0
Share-based compensation expense, net	478	(134)	478	11,347
Reduction in Force
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	501	99	501	3,935
Liability-classified awards compensation expense, Performance units		(31)		558
Total share and incentive-based compensation expense		68		4,493
Less: Capitalized compensation expense	0	0	0	0
Share-based compensation expense, net	501	68	501	4,493
Accelerated Vesting
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	0	5,791	0	5,791
Liability-classified awards compensation expense, Performance units		1,309		1,309
Total share and incentive-based compensation expense		7,100		7,100
Less: Capitalized compensation expense	0	(555)	0	(555)
Share-based compensation expense, net	0	6,545	0	6,545
Restricted Stock
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	1,527	5,876	2,272	20,477
Restricted Stock | Recurring Compensation Expense
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	829	603	1,574	3,379
Restricted Stock | Executive Terminations
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	197	0	197	8,140
Restricted Stock | Reduction in Force
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	501	92	501	3,777
Restricted Stock | Accelerated Vesting
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	0	5,181	0	5,181
Performance Share Units
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	470	730	668	2,183
Performance Share Units | Recurring Compensation Expense
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	189	31	387	359
Performance Share Units | Executive Terminations
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	281	82	281	1,056
Performance Share Units | Reduction in Force
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	0	7	0	158
Performance Share Units | Accelerated Vesting
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	0	$ 610	0	$ 610
Stock Option
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	193		323
Stock Option | Recurring Compensation Expense
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	193		323
Stock Option | Executive Terminations
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	0		0
Stock Option | Reduction in Force
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	0		0
Stock Option | Accelerated Vesting
Share and Incentive-Based Compensation Arrangement by Award, Compensation Cost
Equity-classified awards compensation expense	$ 0		$ 0

Employee Termination Benefits_2

Employee Termination Benefits (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Employee Termination Benefits
Cash	$ 3,486	$ 862	$ 3,486	$ 19,499
Share-Based Compensation	$ 979	$ 181	$ 979	$ 13,131
Number of Shares	81	0	81	763
Total Employee Termination Benefits	$ 4,465	$ 1,043	$ 4,465	$ 32,630
Executive Employee Termination Benefits
Employee Termination Benefits
Cash	877	0	877	11,945
Share-Based Compensation	$ 478	$ 82	$ 478	$ 9,196
Number of Shares	37	0	37	554
Total Employee Termination Benefits	$ 1,355	$ 82	$ 1,355	$ 21,141
Other Employee Termination Benefits
Employee Termination Benefits
Cash	2,609	862	2,609	7,554
Share-Based Compensation	$ 501	$ 99	$ 501	$ 3,935
Number of Shares	44	0	44	209
Total Employee Termination Benefits	$ 3,110	$ 961	$ 3,110	$ 11,489

Loss per Share (Details)

Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings (Loss) Per Share, Diluted, by Common Class, Including Two Class Method
Net Loss, basic	$ (13,284)	$ (34,074)	$ (18,561)	$ (74,968)
Weighted Average Shares, Basic (in shares)	35,356,000	35,017,000	35,339,000	34,800,000
Loss per Share, basic (in dollars per share)	$ (0.38)	$ (0.97)	$ (0.53)	$ (2.15)
Effect of dilutive securities
Restricted stock awards	$ 0	$ 0	$ 0	$ 0
Restricted stock awards (in shares)	0	0	0	0
Performance share units	$ 0	$ 0	$ 0	$ 0
Performance share units (in shares)	0	0	0	0
Warrants	$ 0	$ 0	$ 0	$ 0
Warrants (in shares)	0	0	0	0
Stock options	$ 0		$ 0
Stock options (in shares)	0		0
Diluted earnings (loss)	$ (13,284)	$ (34,074)	$ (18,561)	$ (74,968)
Weighted average shares, diluted (in shares)	35,356,000	35,017,000	35,339,000	34,800,000
Loss Per Share, diluted (in dollars per share)	$ (0.38)	$ (0.97)	$ (0.53)	$ (2.15)
Restricted Stock awards
Potentially Dilutive Securities
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	0
Performance Share Units
Potentially Dilutive Securities
Antidilutive securities excluded from computation of earnings per share (in shares)	0		0
Warrants
Potentially Dilutive Securities
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	0	0
Stock Option
Potentially Dilutive Securities
Antidilutive securities excluded from computation of earnings per share (in shares)	0		0

Uncategorized Items - sd-201906

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (57,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (57,000)