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SANDRIDGE energy NEWS RELEASE SANDRIDGE ENERGY , INC . ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE THREE AND NINE MONTH PERIODS ENDED SEPTEMBER 30 , 2021 - Oklahoma City , Oklahoma , November 9 , 2021 / PRNewswire / SandRidge Energy , Inc. ( the " Company " or " SandRidge " ) ( NYSE : SD ) today announced financial and operational results for the three and nine month periods ended September 30 , 2021 . Recent Highlights • • Third quarter net cash ( 1 ) increased by $ 28.4 million quarter - over - quarter to $ 99.0 million . Total cash and cash equivalents was $ 99.0 million as of September 30 , 2021 . In early September , the Company repaid its $ 20 million term loan in full and terminated its existing credit facility . As of September 30 , 2021 , the Company had no remaining term debt or revolving debt obligations . Total third quarter net production was 18.7 MBoed compared to 19.0 MBoed in the prior quarter . Third quarter net income was $ 28.6 million , or $ 0.78 per share , compared to net income of $ 16.3 million , or $ 0.45 per share in the prior quarter . As of September 30 , 2021 , the Company returned 106 wells to production that were previously curtailed due to the 2020 commodity price downturn . Third quarter realized oil , natural gas , and natural gas liquids prices , before the impact of derivatives , were $ 69.40 , $ 2.89 and $ 26.93 , respectively , compared to $ 64.73 , $ 1.66 and $ 17.33 in the prior quarter . The Company maintained its commitment to protecting shareholder capital invested in well reactivation and other capital projects by entering in to hedges for natural gas and natural gas liquids , which represents approximately 13 % of our third quarter total net production on a pro - rata basis . The hedges had average strike prices of $ 4.07 per MMbtu for natural gas and $ 1.20 per gallon for natural gas liquids , respectively . The Company remains unhedged from March of 2022 forward . SandRidge is actively exploring Carbon Capture , Utilization , and Sequestration ( " CCUS " ) potential across the Company's owned and operated infrastructure footprint . The Company recently entered into a cooperation agreement with the University of Oklahoma to further understand the technical feasibility , as well as assess the potential for commerciality of CCUS within its existing asset base . The Company maintains its commitment to not engage in flaring of produced natural gas . ( 1 ) Net Cash is defined as total cash and cash equivalents less total debt . 1