View Full Version : Sandridge asset sale



wsucougz
04-10-2008, 09:03 AM
Pending sale of 20,820 acres in the piceance basin:

Meagher Oil & Gas Properties, Inc. (http://listings.meagheroil.com/list_sandridge.htm)

Supposedly prior sales in the area have netted around $50k/acre. Do the math and you'll see that's big money, which may partially explain why the stock is up ~50% since Feb. 1 and ~10% in the last couple of days.

They are a $6 billion dollar company now.

metro
04-10-2008, 09:10 AM
What does this have to do with anything? Especially metro area talk?

wsucougz
04-10-2008, 09:25 AM
You're kidding, right?

OU Adonis
04-10-2008, 09:42 AM
What does this have to do with anything? Especially metro area talk?

Considering they are one of the fastest growing Metro companies?

wsucougz
04-10-2008, 10:07 AM
I'm not pumping the stock, if that's what you're thinking. I don't even own it.

If you're excited about downtown, it goes without saying that you should be interested in companies like Sandridge - particulary Sandridge, in my mind, as they are homegrown, just went public a few months ago, moving into the Kerr Mcgee tower, etc. When I see that their market cap went up by 2 billion dollars since February, and that potentially around a billion dollars in cash could be coming through the door, I think about that in terms of how much of a positive effect it will have on the city.

It is also worth noting that Tom Ward's stake in the company alone is now worth around $1.5 billion.

Cut me some slack, Jack.

jbrown84
04-10-2008, 11:05 AM
That was a bizarre response from metro.

OKCMallen
04-10-2008, 11:42 AM
There are better forums for this thread, I think is what he means...?

metro
04-10-2008, 01:09 PM
That was a bizarre response from metro.

Yeah sorry, as OKCMallen stated, I was just shocked that this sort of a post was made. No one really posts stock info on this website, let alone this forum. Usually if it is discussed it would be in the Business Exchange, most people reading things in this forum don't care about pending sale of acres, etc.

No harm intended.:ou

jbrown84
04-10-2008, 03:31 PM
It's not about stock, it's about a big sale for Sandridge that contributes to their growth.

shane453
04-10-2008, 03:53 PM
It's about a little company that might soon become one of the largest companies in downtown OKC. A major real estate player. It's certainly pertinent.

windowphobe
04-10-2008, 06:29 PM
Maybe it was in the wrong forum, or maybe it wasn't. Regardless, I think it was worth mentioning.

okctvnewsguy
04-11-2008, 02:56 AM
Do you think they still tell people coming to meetings... We're in the Kerr McGee building?

soonerfan21
04-11-2008, 07:25 AM
I have already heard people downtown refer to the tower as the "SandRidge Tower" and the signage in the Underground does the same. It seems like it has been an easy transition.