Seeking Alpha

SandRidge Energy (SD) +9.2% AH after agreeing to sell its Permian assets to Sheridan Production...

SandRidge Energy (SD) +9.2% AH after agreeing to sell its Permian assets to Sheridan Production Partners for $2.6B. SD says the sale is a key part of its planned strategic transition from a natural gas producer to an oil rich E&P company, and results in a cash balance of nearly $3B and liquidity of more than $3.5B for debt reduction and funding development of its Mississippian play.
Comments (5)
  • gitty up SD; finally some positive developments. Impending shareholder revolt tends to focus the minds of the management team
    19 Dec 2012, 04:36 PM Reply Like
  • Great. AB
    19 Dec 2012, 05:54 PM Reply Like
  • Be up 50% it we dump Tom and the BOD.
    19 Dec 2012, 07:04 PM Reply Like
  • Those 2+B will be spent on increasing BOD luxury and Tom Ward salary and few more jets Ward can use as family asset.

     

    Tom ward should focus on reducing expenses rather than selling assets first.
    20 Dec 2012, 01:23 AM Reply Like
  • Shareholders voting against the sale this morning!

     

    I wonder what the record number of shareholder class action lawsuits against 1 company is. Whatever it is Ward and his crony BOD just guaranteed that SD will set a record which will never be topped.

     

    SD is a case study in how BODs are in the pocket of rogue executives and fail to serve the owners (shareholders).
    20 Dec 2012, 09:56 AM Reply Like
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