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SANDRIDGE energy NEWS RELEASE SANDRIDGE ENERGY , INC . ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30 , 2021 ; ANNOUNCES SHARE REPURCHASE PROGRAM Oklahoma City , Oklahoma , August 10 , 2021 / PRNewswire / - SandRidge Energy , Inc. ( the " Company " or " SandRidge ” ) ( NYSE : SD ) today announced financial and operational results for the three and six month periods ended June 30 , 2021 . Recent Highlights • • • • • SandRidge's Board of Directors has approved the initiation of a share repurchase program ( the " Program " ) as a means of opportunistically returning capital to shareholders . Under the Program , the Company may repurchase up to $ 25 million worth of its outstanding common stock beginning as early as August 16 , 2021 . 2Q21 net cash ( 1 ) increased by $ 14.1 million quarter - over - quarter to $ 70.6 million . Total cash and cash equivalents was $ 90.6 million as of June 30 , 2021 . Second quarter net production was 19.0 MBoed from our Mid - Continent assets , compared to 17.5 MBoed in the prior quarter , up by 1.5 MBoed despite no new drilling or completions activity in the first half of 2021. Total second quarter net production was 19.0 MBoed compared to 18.2 MBoed in the prior quarter . ( 2 ) 2Q21 net income was $ 16.3 million for the quarter , or $ 0.45 per share . Adjusted net income ( 3 ) was $ 16.5 million , or $ 0.45 per share . As of June 30 , 2021 , the Company returned 49 wells to production that were previously curtailed due to the 2020 commodity price downturn , resulting in average incremental production of 0.8 MBoed in the first half of 2021 . Second quarter realized oil , natural gas , and natural gas liquids prices , before the impact of derivatives , were $ 64.73 , $ 1.66 and $ 17.33 , respectively , compared to $ 53.99 , $ 1.85 and $ 17.00 in the prior quarter . As of June 30 , 2021 , the Company did not have any open derivatives contracts . SandRidge announced updated production , expense , and capital expenditure guidance for 2021 . During 2Q21 , SandRidge closed on the acquisition of all overriding royalty interests held by SandRidge Mississippian Royalty Trust I for a net purchase price of $ 3.6 million . Subsequent to the sale of its North Park Basin ( " NPB " ) assets in 1Q21 , the Company is no longer engaged in the routine flaring of produced natural gas . ( 1 ) Net Cash is defined as cash and cash equivalents less total debt . ( 2 ) The difference between production from Mid - Continent assets and total production is contribution from North Park Basin assets which were sold in February 2021 . ( 3 ) See pages 10-13 for non - GAAP financial measures definitions .