United States

SandRidge Energy Inc (SD)

SD on New York Consolidated

5 Dec 2016
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$0.24 (+1.03%)
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Latest Key Developments (Source: Significant Developments)

Sandridge says about $3.7 bln in Debt Has Been Eliminated
Tuesday, 4 Oct 2016 02:06pm EDT 

Sandridge Energy Inc : Sandridge Energy Emerges From Reorganization With Approximately $525 Million Of Liquidity . New Capital Structure Consists Of A $425 Million First Lien Revolving Credit Facility ("RBL") (Maturing In 2020) . New Capital Structure Consists Of About $282 Million In Mandatorily Convertible Notes, Bearing No Interest . Approximately $3.7 Billion In Pre-Petition Funded Debt Has Been Eliminated, In Large Part, Through Equitization Of Debt . $3.7 Billion Of Debt Eliminated; Co Relisted On New York Stock Exchange And Resumed Trading Under Ticker "SD" . Pursuant To Plan, Sandridge Has Appointed A New Board Of Directors Effective Today .New Board Of Directors Consists Of Five Members Including: James Bennett, Michael Bennett, John Genova, Bill Griffin, David Kornder.  Full Article

SandRidge Energy provides operations update and full year 2016 guidance
Wednesday, 28 Sep 2016 08:45am EDT 

SandRidge Energy Inc : SandRidge energy inc provides operations update and full year 2016 guidance . Plans to invest $225 to $255 million of capital expenditures in 2016 . Initiating total 2016 production guidance of 18.9-19.3 MMBoe .Expect to emerge from reorganization and resume trading week of October 3rd on NYSE.  Full Article

SandRidge Energy files for bankruptcy protection
Monday, 16 May 2016 08:16am EDT 

Sandridge Energy Files "Pre : Projects having ample liquidity to fund its ongoing operations and its capital programs throughout chapter 11 . Restructuring support agreement contemplates an RBL facility and equitization of approximately $3.7 billion of other funded indebtedness . Filed "first day" motions that, when granted, will enable company's day-to-day operations to continue as usual . Will pay all suppliers and vendors in full under normal terms for goods and services provided during chapter 11 cases .arranged" reorganization under chapter 11, announcing restructuring support agreement with creditors holding over two-thirds of its $4.1 billion in funded debt obligations.  Full Article

Sandridge Energy Inc files for non timely 10-Q
Wednesday, 11 May 2016 06:19pm EDT 

Sandridge Energy Inc: Sandridge Energy Inc Files For Non Timely 10-Q .Quarterly report for quarter ended march 31 cannot be filed within prescribed time period without unreasonable effort and expense.  Full Article

SandRidge Energy Inc - New Civil Antitrust Claims Filed Against Chesapeake, SandRidge Energy - The Associated Press
Thursday, 3 Mar 2016 03:46pm EST 

SandRidge Energy Inc:A class of oil and gas royalty owners has filed a civil antitrust lawsuit against Chesapeake Energy Corporation, SandRidge Energy Corp. and former SandRidge CEO Tom Ward - AP.The 14-page lawsuit, filed by attorneys with the Dallas-based law firm Burns Charest LLP, alleges that the defendants violated federal antitrust laws by rigging bids and limiting competition for oil and gas leases in northwest Oklahoma.The lawsuit states that the class could ultimately include thousands of affected royalty owners in the geological formation known as the Anadarko Basin Region."This case is about cleaning up the oil patch," says Burns Charest founder and co-managing partner Warren Burns, who represents the proposed class."In a rush to reap illegal profits, the defendants violated the trust and confidence of these royalty owners.Their actions demonstrate that they were willing to betray my clients and violate the law. We are suing to recover damages and to promote legal competition in the oil and gas industry.".  Full Article

SandRidge Energy Inc 2016 job cuts total 440- NewsOk, citing the Oklahoman - Reuters
Wednesday, 3 Feb 2016 01:08pm EST 

SandRidge Energy Inc:Tumbling oil prices continued to shake the local economy Wednesday as SandRidge Energy Inc. laid off 172 Oklahoma City employees - the Oklahoman.The company has cut 440 jobs since the first of the year - the Oklahoman.  Full Article

SandRidge Energy Inc reduced employee strength of its subsidiary by as high as 87% - ECLBFI
Saturday, 16 Jan 2016 12:15am EST 

SandRidge Energy Inc:SandRidge Energy Inc. has made an announcement on its axing of 226 out of 260 posts at its Lariat Services Group subsidiary in northwest Oklahoma, representing a reduction of almost 87% in the employee fleet of the oil-field service company - ECLBFI.These employees are based out of Cherokee and Alva. SandRidge personnel, on the other hand, have been kept out of this layoff process - ECLBFI.In a statement, SandRidge disclosed, The decision to close a significant portion of Lariat Services was a difficult, but necessary one, driven by the unprecedented environment currently facing our entire industry. - ECLBFI.  Full Article

SandRidge Energy Inc acquires North Park Basin Niobrara Shale Oil Assets for $190 Million in Cash
Wednesday, 4 Nov 2015 04:15pm EST 

SandRidge Energy Inc:Has agreed to acquire the assets of EE3, LLC (EE3) in a privately negotiated transaction for $190 million in cash, pending standard due diligence and post-closing adjustments.Transaction is expected to close in the fourth quarter of 2015.  Full Article

SandRidge Energy Inc announces affirmed $500 million borrowing base and amendment of senior credit facility
Monday, 19 Oct 2015 07:30am EDT 

SandRidge Energy Inc:Announces affirmed $500 million borrowing base and amendment of senior credit facility.In addition, the credit agreement was amended to increase from $200 million to $275 million a basket available to the Company for the cash repurchase of senior unsecured notes.  Full Article

SandRidge Energy Inc announces acquisition of pinon gathering company, llc
Monday, 5 Oct 2015 07:30am EDT 

SandRidge Energy Inc:Announces acquisition of pinon gathering company, llc.Deal for $48 million.Says has entered into an agreement to acquire the piñon gathering company, llc from eig global energy partners.To acquire the piñon gathering company also for $78 million of its 8.75% senior secured notes due 2020.Will also eliminate additional contractual fees after 2021, secure asset supporting west Texas natural gas production.As a result of deal,co will eliminate minimum volume commitment payments of about $40 million per year,forecasted to continue until 2021.  Full Article

BRIEF-SandRidge Energy provides operations update and full year 2016 guidance

* SandRidge energy inc provides operations update and full year 2016 guidance