SandRidge Energy reports 2nd-qtr loss as costs rise

Tue Aug 6, 2013 4:22pm EDT

Aug 6 (Reuters) - SandRidge Energy Inc, the U.S. oil and gas company targeted by activist investors earlier this year, reported a quarterly loss on Tuesday as administrative costs rose.

SandRidge also raised its 2013 forecast for oil and gas production without increasing its budget.

SandRidge reported a second-quarter loss of $34 million, or 7 cents per share, compared with a profit of $804 million or $1.46 per share, a year ago.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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