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Thread: SandRidge Energy News

  1. #101
    Hemingstein is offline Formerly OnlyOne
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    Default Re: SandRidge Energy News

    Some people seem to be more skeptical about SandRidge's survival than that of Chesapeake. I really don't know what's going to happen to SandRidge, but it doesn't look good. Does TPG want to move them out of OKC or just get their financials shored up? They seem to have a vendetta against Ward and the board.

  2. #102
    adaniel is offline Gold Member
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    Default Re: SandRidge Energy News

    ^
    No. Why would they move? Corporate relocations are expensive and the vast majority of Sandridge's operations in are NW Oklahoma. I guess they can move to Enid LOL.

    More concerning are possible staff cuts and an outright sale of the company. I tend to agree their future is far murkier than CHK, which has largely stabilized and will probably be okay.

  3. #103
    Hemingstein is offline Formerly OnlyOne
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    Default Re: SandRidge Energy News

    Quote Originally Posted by adaniel View Post
    ^
    No. Why would they move? Corporate relocations are expensive and the vast majority of Sandridge's operations in are NW Oklahoma. I guess they can move to Enid LOL.

    More concerning are possible staff cuts and an outright sale of the company. I tend to agree their future is far murkier than CHK, which has largely stabilized and will probably be okay.
    Adaniel, I shouldn't have said move, I should have said outright sale of the company. That seems to be the looming threat with the takeover attempts and reformed board.

    Who would be the most likely to buy SandRidge you think? Or is it more likely they'd be sold off in parts to various entities?

  4. #104
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    Default Re: SandRidge Energy News

    Well, I'm neither a stock market guru or energy industry expert, but the Mississippian is the hot play right now. So the simple fact they have such a large footprint there makes them an attractive takeover target.

    SD stock price is much more depressed than it should be according to TPG, and they have some legit gripes. I imagine they believe they can unlock a lot of value in the company that hasn't been tapped. But if the stock price doesn't go up in the next 9-12 months, I would think they would push for a sale.

    Just my 0.02.

  5. #105
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    Default Re: SandRidge Energy News

    Tom Ward and other insiders are jumping ship and selling shares-

    However its impossible to tell motive-

    -could be tax related
    -could be to protest recent board shakeup
    -could be to buy new resort homes, etc

    Timing is the most interesting to me...they agreed to add board seats on March 13

    ...

    Insider Transactions Reported - Last Two Years

    Date Insider Shares Type Transaction Value*

    Mar 19, 2013 TIPTON TODD N.Officer 17,929 Direct Sale at $5.59 per share. 100,223
    Mar 17, 2013 WARD TOM L.Officer 832,000 Direct Sale at $5.63 per share. 4,684,160
    Mar 17, 2013 TIPTON TODD N.Officer 35,000 Direct Sale at $5.65 per share. 197,750
    Mar 14, 2013 COOLEY RANDALL D.Officer 25,000 Direct Sale at $5.70 per share. 142,500
    Mar 14, 2013 WARD TOM L.Officer 2,835,000 Direct Sale at $5.70 per share. 16,159,499
    Mar 14, 2013 JOHNSON RODNEY E.Officer 83,026 Direct Sale at $5.80 per share. 481,550
    Mar 13, 2013 BEASLEY STEPHEN C Director 15,000 Indirect Statement of Ownership N/A
    Mar 13, 2013 WESTBROOK DAN ALLEN Director 15,000 Direct Statement of Ownership N/A

    more listed here:

    SD Insider Transactions | Sandridge Energy Inc. Common St Stock - Yahoo! Finance

    tom ward should get an award for this:

    SandRidge Energy News-8587665971_e59bb8f554_b.jpg

  6. #106
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    Default Re: SandRidge Energy News

    Here's some inside info for you guys -
    A former boss of mine had a kid that played football at Deer Creek. He and his wife knew the Ward's from this, guess their kids went to school together. At the time, they had to play Guymon out in the panhandle. Ward showed up for the game in a Chesapeake jet, and told my friend that it was just a matter of time restrictions is why they flew in on a jet. Also, Ward's son, just a few years ago, and in his early 20 something years of age, was being paid $1 million a year to be in charge of 'charitable giving' for SD. Hell, I'd have done it for half that amount. LOL

    Now this is all 3rd hand info, believe it if you want.......

  7. #107
    Pete's Avatar
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    Default Re: SandRidge Energy News

    Interesting tidbit from Steve's chat last Friday:

    Steve Lackmeyer It's quite possible that several of the empty lots SandRidge owns along Broadway could be sold and put into play. But so far, SandRidge isn't talking. They have indicated to our energy guys they're not going to talk to us at all anymore because of their displeasure of our coverage.

  8. #108
    onthestrip is online now Participating Member
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    Default Re: SandRidge Energy News

    Sandridge board to investigate Tom Ward's actions. I imagine this could affect his golden parachute if they find wrong doing and are able to terminate him with cause.

    New Board at SandRidge Explores Allegations Against CEO Tom Ward | OK Energy Today

  9. #109
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  10. #110
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    Default Re: SandRidge Energy News

    Too bad people who are only in it for short-term gain get to decide long-term issues. It is what is wrong with Wall Street. It has become one big progress trap.
    Third Place

  11. #111
    Hemingstein is offline Formerly OnlyOne
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    Default Re: SandRidge Energy News

    Quote Originally Posted by tillyato View Post
    Disappointing, but not surprising news. Just a damn shame that they didn't have time to see if things got better with the changes.

  12. #112
    onthestrip is online now Participating Member
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    Default Re: SandRidge Energy News

    Quote Originally Posted by Just the facts View Post
    Too bad people who are only in it for short-term gain get to decide long-term issues. It is what is wrong with Wall Street. It has become one big progress trap.
    The way Ward was operating and compensating...its hard to say he was really in it for the long term either. He only has himself to blame. TPG wouldnt have been able to take control if it werent for Ward's shady business practices.

  13. #113
    Hemingstein is offline Formerly OnlyOne
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    Default Re: SandRidge Energy News

    Quote Originally Posted by onthestrip View Post
    The way Ward was operating and compensating...its hard to say he was really in it for the long term either. He only has himself to blame. TPG wouldnt have been able to take control if it werent for Ward's shady business practices.
    That's a stretch. Tom Ward is hardly the only person responsible for SandRidge's now seemingly imminent demise.

  14. #114
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    Default Re: SandRidge Energy News

    Should be emphasized that this is the opinion of one shareholder.

    With that in mind, if their stock price doesn't start recovering in the next 6-9 months, a sale would start looking more likely.

  15. #115
    onthestrip is online now Participating Member
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    Default Re: SandRidge Energy News

    Quote Originally Posted by OnlyOne View Post
    That's a stretch. Tom Ward is hardly the only person responsible for SandRidge's now seemingly imminent demise.
    Who else is responsible? Its hard to say it was the board members. They were picked by Ward and way overpaid to let him do what he wanted. Im not sure how at least 90% of the blame doesnt lie right with Ward.

  16. #116
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    Default Re: SandRidge Energy News

    Wow, this is very big news...

    We all feared SandRidge and/or Chesapeake would be sold, but now it's looking like the SD sale is a foregone conclusion.


    So, what does that mean for OKC? That tower empty again? No employees moving into the Braniff Building? The Amenities Building being brought to a complete halt?

  17. #117
    Hemingstein is offline Formerly OnlyOne
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    Default Re: SandRidge Energy News

    Quote Originally Posted by Pete View Post
    Wow, this is very big news...

    We all feared SandRidge and/or Chesapeake would be sold, but now it's looking like the SD sale is a foregone conclusion.


    So, what does that mean for OKC? That tower empty again? No employees moving into the Braniff Building? The Amenities Building being brought to a complete halt?
    I'd imagine that one thing this means is no mystery tower for OKC.

  18. #118
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    Default Re: SandRidge Energy News

    Maybe Aubrey has a purchase target now. If SR is so undervalued, he knows it.

  19. #119
    Hemingstein is offline Formerly OnlyOne
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    Default Re: SandRidge Energy News

    Quote Originally Posted by Rover View Post
    Maybe Aubrey has a purchase target now. If SR is so undervalued, he knows it.
    That would be quite the turn of events...

  20. #120
    CaptDave is online now Gold Member
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    Default Re: SandRidge Energy News

    Quote Originally Posted by Rover View Post
    Maybe Aubrey has a purchase target now. If SR is so undervalued, he knows it.
    Interesting thought... and not entirely unrealistic.

  21. #121
    Pete's Avatar
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    Default Re: SandRidge Energy News

    Maybe Aubrey and Tom Ward could partner, bring in investors and buy the SandRidge assets. And/or buy some of the CHK assets which are on the block as well.


    BTW, SandRidge Tower is under 500,000 square feet, compared to the Devon complex which is four times larger.


    So, anyone looking to building a 40-story tower could not be accommodated with the SandRidge properties; unless they added significant space, such as what SD had planned to do to the east of the tower.

  22. #122
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    Default Re: SandRidge Energy News

    SR and Chesapeake will sell off excess assets at a fire sale price. Aubrey and Tom obviously thought they were more valuable than the current board members do. So, can Aubrey and Tom take them off their hands? Of course...and for a fraction of what they were acquired for in the first place. They didn't make the money they have by being stupid. Bet Mr. Pickens would help back them.

  23. #123
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    Default Re: SandRidge Energy News

    BTW, the SD stock is nearing an all-time low ($4.00) and very close to a 52-week low ($4.52), today closing at $4.56.

  24. #124
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    Default Re: SandRidge Energy News

    Quote Originally Posted by Pete View Post
    BTW, the SD stock is nearing an all-time low ($4.00) and very close to a 52-week low ($4.52), today closing at $4.56.
    Who's buying and what are you benching sales at if you are?
    It's not that I'm so smart, it's just that I stay with problems longer. -Albert Einstein

  25. #125
    Pete's Avatar
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    Default Re: SandRidge Energy News

    Anyone buying is anticipating a sale... And there is almost always a turn-up when that happens.

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