SandRidge reports only minor gains in gas production
US-based SandRidge Energy on November 9 reported mixed results for overall production, though natural gas volumes improved slightly over third quarter 2020.
Total production for SandRidge was 1.72mn barrels of oil equivalent during the three-month period ending September 30. Most of that, some 52.5%, was in natural gas. Crude oil production declined 51% from Q3 2020 and natural gas liquids production was 15% lower than during the same period last year.
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Natural gas production of 5.7bn ft3 was higher than Q3 2020, but only by about 0.4%.
The company added, however, that it brought wells back into service that were curtailed because of lower prices during the first half of last year, “improving their production potential through modest capital improvements.”
Most of its operations are in Oklahoma and Kansas.
Elsewhere, the company said that, as of first quarter 2021, it was no longer flaring natural gas and was actively exploring carbon capture, utilisation and sequestration (CCUS) as a potential asset.
SandRidge said its network of saltwater pipelines and saltwater injection sites could be used for CCUS.
“Along with the University of Oklahoma, the Company is evaluating the technical feasibility of utilizing these assets to one day transport and/or sequester CO2 emitted from nearby industrial facilities,” SandRidge said.
The company reported total revenue of $46.6mn during the third quarter, a 66% improvement over the same period last year.