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SandRidge Energy Inc. reported net income of $809 million for the second quarter of 2012 and net income of $577 million for the first six months of the year.
For the second quarter, net income jumped from the $196 million reported for the second quarter of 2011. The first six months of 2012 saw an increase from the $120 million net loss reported for the first six months of 2011.
Second quarter adjusted net income was $36.8 million, or 7 cents per diluted share, for second quarter 2012 compared to adjusted net loss of $1.6 million in second quarter 2011.
For the first six months of 2012 adjusted net income was $58.1 million, or 11 cents per diluted share, compared to an adjusted net loss of $6.2 million, or 1 cent per diluted share, in the first six months of 2011.
Operating cash flow for the second quarter was $222 million, compared to $136 million in the second quarter of 2011.On Aug. 2, SandRidge shares on the New York Stock Exchange closed down 27 cents at $6.58 per share.