SandRidge Energy, Inc.
|Traded as||OTC Pink Current: SDOCQ|
|Fate||Filed for Chapter 11 bankruptcy protection on May 16, 2016|
|Headquarters||Oklahoma City, Oklahoma, U.S.|
|Brian Michaels CEO & President
James Berrnet non-executive chairman
|79.9 thousand barrels of oil equivalent (489,000 GJ) per day (Q3 2015)|
|Revenue||US$625 million (YTD 2015)|
|Total equity||-US$10.66 billion (2015)|
Number of employees
|Slogan||The Power of Us|
The company has formed 3 public royalty trusts:
- Sandridge Permian Trust (NYSE: PER) - owner of royalty interests in oil and natural gas properties in the Central Basin Platform of the Permian Basin in Andrews County, Texas.
- SandRidge Mississippian Trust I (NYSE: SDT) - owner of royalty interests in oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant and Woods counties in Oklahoma.
- SandRidge Mississippian Trust II (NYSE: SDR) - owner of royalty interests in oil and natural gas properties in the Mississippian formation in Alfalfa, Grant, Kay, Noble and Woods counties in northern Oklahoma and Barber, Comanche, Harper and Sumner counties in southern Kansas.
The company owns Lariat Services, Inc., an owner of drilling rigs.
SandRidge was founded in 2006 by Tom L. Ward by buying approximately 50% of Riata Energy of Amarillo, Texas. Ward previously co-founded Chesapeake Energy with Aubrey McClendon and was the chief operating officer of that company from 1989 until 1996.
On June 19, 2013, after a series of missteps, CEO Tom L. Ward was ousted by the board of the directors and James Bennett became President and CEO. Bennett first joined the company in 2010 and previously worked at GSO Capital Partners.
In 2015, the company acquired Pinon Gathering Company, owner of 370 miles of gathering lines, which reduced Sandridge's lease operating and gathering expense.
On May 16, 2016 SandRidge Energy, Inc. filed for Chapter 11 bankruptcy protection
- "SANDRIDGE ENERGY, INC. UPDATES SHAREHOLDERS ON OPERATIONS AND REPORTS FINANCIAL RESULTS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 2015" (PDF). November 4, 2015.
- Lariat Services
- "Tom Ward Of SandRidge Energy: Another CEO That's Got To Go". Forbes. February 11, 2013.
- "SandRidge Energy, Inc. Prices Initial Public Offering". PRNewswire. November 5, 2007.
- "SandRidge Energy Board Ousts Founder Tom Ward". CNBC. June 19, 2013.
- Sandridge: Management Team
- "SandRidge to Sell Gulf of Mexico Business for $750 Million". Bloomberg. January 7, 2014.
- "SandRidge Energy, Inc. Announces Acquisition of Pinon Gathering Company, LLC". PRNewswire. October 5, 2015.
- "SandRidge Energy, Inc. Acquires North Park Basin Niobrara Shale Oil Assets for $190 Million in Cash". PRNewswire. November 4, 2015.