SandRidge Energy, Inc. (SD) 2008年年度报告「NYSE」.pdf

1、sandr idge energy,inc.2008 annual r eportdefinition“The West Texas Overthrust is a world class asset,defined by complex geology and enormous untapped potential.SandRidge holds more than 650,000 acres of contiguous leasehold upon which to explore believed to be one of the largest contiguous blocks of

2、 onshore U.S.leasehold owned by one company.”2 Letter to Shareholders 10 Catalyst for Growth 16 Defining the West Texas Overthrust 22 A Premier Reservoir 26 Focus on Flexibility 30 Getting Personal 32 Board of Directors 33 Management 34 Glossary 35 Non-GAAP Reconciliations 37 Financial Section IBC I

3、nvestor Information3Capital discipline is essential to the long-term health of any company,regardless of what happens within the overall marketplace.It is even more critical during times of economic downturn.To this end,we reduced our 2009 budget from an initial projection of$2.0 billion to a range

4、of$500-$700 million,and expect to remain at the low end of that range unless we see substantial upward movement in commodity prices.This budget allows us to remain within our cash resources while growing our annual production by 10 percent.The West Texas Overthrust is a world class asset,defined by

5、complex geology and enormous untapped potential.SandRidge holds more than 650,000 acres of contiguous leasehold upon which to explore believed to be one of the largest contiguous blocks of onshore U.S.leasehold owned by one company.Significantly,the majority of this acreage is contracted under long-

6、term lease agreements providing the company with great flexibility in our drilling activities.“With the predictable cash flow afforded by our hedge program and the continued success of our low finding-cost drilling program,SandRidge continues to maintain a strong financial outlook.”proved reserves(B