SandRidge (NYSE:SD) is up nearly 12% after raising its oil production guidance for the first time in six quarters.
It plans to produce 23.3 million barrels in 2011, up from the original 21.6 million.
The raised outlook came out with its fourth-quarter earnings release yesterday which reported a slightly narrower loss than analysts had expected.
It posted a net loss of $208.02 million or $0.53 per share, smaller than the $434.24 million in the same quarter in 2009.
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