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SandRidge Energy , Inc. Reports Financial and Operational Results for the First Quarter 2021 - Oklahoma City , Oklahoma , May 11 , 2021 / PRNewswire / SandRidge Energy , Inc. ( the " Company " or " SandRidge " ) ( NYSE : SD ) today announced financial and operational results for the quarter ended March 31 , 2021 . Results and highlights during the quarter : • • • • • • • • • • Improved net cash¹ by $ 48.2 million to a net cash position of $ 56.5 million compared to a net cash position of $ 8.3 million at the end of the prior quarter , the increase was primarily due to the sale of North Park Basin Adjusted EBITDA² was $ 21.7 million compared to $ 9.1 million in the prior quarter , primarily due to commodity price increases Total production was 18.2 MBoed compared to 21.1 MBoed in the prior quarter . Produced 17.5 MBoed from our Mid - Continent assets , compared to 19.0 MBoed in the prior quarter Net income was $ 35.0 million , or $ 0.97 per share . Adjusted net income² was $ 17.4 million , or $ 0.48 per share G & A was $ 2.1 million , or $ 1.27 per boe compared to $ 3.0 million , or $ 1.57 per boe in the prior quarter . G & A included $ 0.4 million related to one time savings . Adjusted G & A² was $ 1.9 million , or $ 1.14 per boe compared to $ 2.8 million , or $ 1.44 per boe in the prior quarter LOE was $ 8.0 million or $ 4.85 per boe compared to $ 11.0 million , or $ 5.69 per boe in the prior quarter . Mid - Continent represented $ 7.1 million or $ 4.47 per boe compared to $ 9.0 million or $ 5.15 per boe in the prior quarter Realized oil , natural gas , and natural gas liquids prices before the impact of derivatives were $ 53.99 , $ 1.85 and $ 17.00 , respectively , compared to $ 38.18 , $ 1.56 and $ 9.12 , in the prior quarter Closed on the sale of North Park Basin for a purchase price of $ 47 million . Net proceeds were $ 39.7 million in cash as a result of customary effective date to closing date adjustments . The sale resulted in a $ 19.7 million gain . Closed on the acquisition of the overriding royalty interests held by SandRidge Mississippian Royalty Trust I for a net purchase price of $ 3.6 million , which management believes approximates a PV - 55 valuation and a 2 - year cash on cash payback at early April strip pricing Continued streak without a recordable Health , Safety and Environmental ( " HS & E " ) incident for 31 months as of the end of the quarter 1 Net Cash is defined as cash and cash equivalents less total debt . 2 See page 9-12 for non - GAAP financial measures definitions . 1