SandRidge Energy, Inc. (NYSE:SD) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET
Company Participants
Scott Prestridge - Vice President-Finance & Treasury
Grayson Pranin - Chief Executive Officer & Chief Operating Officer
Salah Gamoudi - Chief Financial Officer & Chief Accounting Officer
Conference Call Participants
Operator
Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today. At this time, I would like to welcome everyone to the SandRidge Energy Second Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]
Thank you. It is now my pleasure to turn today's call over to Scott Prestridge, Vice President of Finance and Treasury. Sir, please go ahead.
Scott Prestridge
Thank you, and welcome everyone. With me today are Grayson Pranin, our CEO and COO; Salah Gamoudi, our CFO and CAO; as well as Dean Parrish, our SVP of Operations.
We would like to remind you that today's call contains forward-looking statements and assumptions, which are subject to risks and uncertainties, and actual results, may differ materially from those projected in these forward-looking statements. We may also refer to adjusted EBITDA and adjusted G&A and other non-GAAP financial measures. Reconciliations of these measures can be found on our website.
With that I'll turn the call over to Grayson.
Grayson Pranin
Thank you, and good morning. I'm pleased to report on a good quarter of results that the company's efficient activity continues to translate to meaningful free cash flow from our producing assets year-to-date and the announcement of a regular quarterly cash dividend of $0.10 per share, first payable in August 2023, subject to quarterly approval by the Board of Directors and a $2 per share onetime cash dividend that was paid on June 7 2023.
Before expanding on this, Salah will touch on a few highlights.
Salah Gamoudi
Thank you, Grayson. Before jumping into operational and financial results, I would like to highlight the recent closing of an acquisition which increased the company's working interest in 26 operated wells within our Northwest Stack area, adding approximately 500 net Boe per day of approximately 30% oil or $11.3 million. These types of small ball bolt-ons will add value-accretive production, with low decline profiles that will further strengthen the company's commodity price realizations, operating margins and cash flow.