Seeking Alpha

SandRidge -2.6%, says MLP tax request held up at IRS

  • SandRidge Energy (SD -2.6%) says its letter asking the IRS whether its water disposal business qualifies as tax-free for inclusion in a possible MLP has run into delays at the agency that could go on for months.
  • The IRS appears to be more closely reviewing the scope of assets that can qualify as tax-free for MLPs and pausing the issuance of private letter rulings that companies normally ask for when setting up the structures.
  • SD is exploring ways, including forming an MLP, to unlock the value of its fracking water disposal business it values at ~$1B.
Comments (5)
  • WPSPIKER
    , contributor
    Comments (1141) | Send Message
     
    Under this Oblamo administration the IRS & SEC and other agencies are the most unfriendly to business of any prior (including the Carter administration!._)
    7 Apr, 04:15 PM Reply Like
  • jdg1956
    , contributor
    Comments (7) | Send Message
     
    This company keeps getting shot (shooting itself?) in the foot.
    7 Apr, 10:13 PM Reply Like
  • bikerron1
    , contributor
    Comments (466) | Send Message
     
    TBG needs to fine a buyer for the company. be lucky to get 8 dollars in a buyout. They pushed all there stockholders that supported them under the bus. Leon Cooperman needs to have a talk with TBG about whats going on in the company.
    (shooting itself?)
    8 Apr, 05:38 AM Reply Like
  • bud4704
    , contributor
    Comments (267) | Send Message
     
    I'll take $8.
    8 Apr, 10:34 AM Reply Like
  • bikerron1
    , contributor
    Comments (466) | Send Message
     
    Me to.
    9 Apr, 05:13 AM Reply Like
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