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SandRidge Energy names Giesler as CEO, pulls guidance

Apr. 07, 2020 7:43 AM ETSandRidge Energy, Inc. (SD) StockSDBy: Carl Surran, SA News Editor2 Comments
  • 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.

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