News Breaks |
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| November 15, 2012 |
| 10:27 EDT |  | SD | SandRidge Energy holder Mount Kellett says company valuation at least $20/share
Mount Kellett Capital Management sent and made public a letter to SandRidge Energy's Board of Directors outlining issues related to the company's management and strategic direction. In the letter, Mount Kellet said: "Mount Kellett and funds and accounts under common control collectively have beneficial ownership in SandRidge Energy of 22.2M shares, or approximately 4.5% of the Company's outstanding common stock...we believe that – properly managed – the Company's assets are worth approximately $20 per share...Lest the Board believe that TPG-Axon's concerns are isolated ones, we are writing to add our views and be crystal clear that management and the Board cannot ignore the interests of the Company's stockholders any longer...we believe SandRidge's Net Asset Value to be approximately $16.5B, assuming the mid-stream assets at cost, prior to net debt and royalty trust minority interest...We would prefer that the Board take the initiative and work in consultation with major stockholders to make the necessary changes. Of course, if that does not happen, the stockholders will have no choice but to take the necessary actions to protect their investment." |
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| May 8, 2013 |
| 08:05 EDT |  | SD | SandRidge Energy valued as a failed enterprise, says Susquehanna
Susquehanna remains positive on SandRidge Energy on the belief divestitures could aid performance and improve EBITDA. The firm adds shareholder activist attention will lead to more changes ahead and reiterates its Positive rating and $10 price target. |
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| May 7, 2013 |
| 16:26 EDT | | SD | SandRidge Energy sees FY13 total production 32.7 MMBoe
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| 16:25 EDT |  | SD | SandRidge Energy reports Q1 adjusted EPS 0c, consensus (6c)
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| 10:10 EDT |  | SD | SandRidge Energy May volatility elevated into Q1 and outlook
SandRidge Energy May call option implied volatility of 62, June and September is at 51; compared to its 26-week average of 54 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on May 8. |
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