SandRidge Energy
| Public company | |
| Traded as | : SD |
| Industry | Oil and gas industry |
| Founded | 2006 |
| Founder | Tom L. Ward |
| Headquarters | Oklahoma City, United States |
|
Key people
|
James Bennet, CEO |
| Products |
Petroleum Natural gas |
|
Production output
|
49.6 thousand barrels of oil equivalent (303,000 GJ) per day (Q3 2016) |
| Revenue |  US$104 million (Q3 2016) |
| -US$404 million (Q3 2016) |
|
| Total assets | -US$1.866 billion (2016) |
| Total equity | -US$2.675 billion (2016) |
|
Number of employees
|
2,200 |
| Website | www |
SandRidge Energy, Inc. is a petroleum and natural gas exploration company headquartered in Oklahoma City, United States.
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.
The company went public via an initial public offering on November 5, 2007, selling over 28 million common shares.
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 2014, the company sold its assets in the Gulf of Mexico for $750 million.
In 2015, the company acquired Pinon Gathering Company, owner of 370 miles of gathering lines, which reduced Sandridge's lease operating and gathering expense. It also acquired 136,000 net acres in the Niobara shale formation for $190 million in cash. By then, the local fracking boom had largely played out and the economies of Harper, Sumner and adjacent southern Kansas and northern Oklahoma counties suffered under the impact. Earthquakes, due to induced seismicity produced by injected wastes, had also substantially reduced in frequency and intensity, thanks to a Kansas Corporation Commission order mandating cutbacks in injection well volumes and pressures. SandRidge, which along with Chesapeake Energy was one of the two major producers in Southcentral Kansas, appealed the order, but soon went into bankruptcy.
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Wikipedia