- SandRidge Energy (NYSE:SD) names former Jones Energy CEO Carl Giesler Jr. as its new President and CEO.
- Giesler was Jones Energy's CEO from summer 2018 through its cash sale earlier this year; previously he served in the same roles at Glacier Oil and Gas and its predecessor company.
- Interim CEO John Suter will return to his COO position; he led the company since last December, when Paul McKinney resigned.
- SandRidge is withdrawing 2020 guidance, citing the uncertain oil and gas market outlook and the impact of the coronavirus.
- The company will substantially further reduce its capital spending in 2020, limited to expenses needed for safety or mechanical integrity and for cash flow enhancing "small ball" workovers; salary and additional personnel reductions also are planned.