SandRidge Energy, Inc.

SandRidge Energy, Inc.

SandRidge Energy, Inc.

Overview
Date Founded

2006

Headquarters

123 Robert South Kerr Avenue, Oklahoma City, OK, 73102, USA

Type of Company

Public

Employees (Worldwide)

270

Industries

Oil & Gas
Power & Utilities

Company Description

SandRidge Energy focuses on drilling low-risk, conventional, high rate-of-return oil wells in shallow carbonate reservoirs. Based in Oklahoma City, SandRidge Energy is the primary developer of the Mississippian Oil Play, with valuable assets in the Gulf of Mexico. Our focus extends beyond energy production and into our communities, where we dedicate our time, talents and resources to the places we call home.

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Executives & Employees

President & Chief Executive Officer

Chief Financial Officer & Chief Accounting Officer

Senior Vice President-Development

Senior Vice President-Reserves, Technology & Business Development

Owner

Co Owner

Partner

Head of Infrastructure

Controller Services

Senior Measurement Auditor

Board of Directors

Director of the General Partner at CVR Partners LP

President & Chief Executive Officer at SandRidge Energy, Inc.

Managing Director at Icahn Enterprises LP

President & Chief Executive Officer at Nevada Strategic Credit Investments LLC

Former Executive Vice President-Refining & Chemicals at El Paso Interim Corp.

Chief Human Resources Officer & Employment Counsel at Insight Portfolio Group LLC

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Owners & Shareholders
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Cannell Capital is an active investor that employs fundamental, bottom-up research in order to make investment decisions. The firm utilizes a long/short strategy that focuses on investments in publicly traded equities, generally small-cap companies, which primarily located in North America. Investment idea generation may be qualitative and/or quantitative in nature.

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New Generation Advisors manages funds that invest in distressed securities including defaulted debt, certain high yield debt and equity securities of troubled companies. The portfolios hold a mix of long and short positions in distressed securities.

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Lonestar Capital Management's investment strategy is based on rejection of the efficient market hypothesis. The firm seeks to exploit material mispricing among investments by knowing more than the market does about their targeted investment opportunities. Lonestar invests in debt and equity securities based on a value-oriented approach. Investment targets include hard-asset industrial and commodity-based businesses, and include bankruptcy and turnaround situations, energy and transportation companies, agricultural concerns and real estate securities. The firm may invest in securities of any kind, including, but not limited to, illiquid securities, private claims of distressed companies, and investments based on their macroeconomic analysis, which are typically made through buying or selling sovereign debt or credit default swaps, interest rate swaps or other currency or commodity related instruments. Evaluation of a target company's balance sheet and cash flow statement is of prime consideration in developing the investment thesis. Lonestar continually engages in a search for secular, industry-wide trends so that multiple investments can be made along a common theme. Lonestar invests on both the long and short sides of the market. Particular emphasis is placed on companies with complicated balance sheets that may result in multiple as well as arbitraged investment positions within a single company's capital structure. The firm also seeks out intra-industry hedged positions when material mispricing is observed.

Recent Transactions
Details Hidden

SandRidge Energy, Inc. purchases Northwest Stack Play

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SandRidge Energy, Inc. purchases Atinum Midcon I LLC /Oil & Gas Assets from Atinum Investment Co., Ltd.

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SandRidge Energy, Inc. purchases EE3 LLC /Niobrara Shale

Transaction Advisors
Legal Advisor

Advised onSandRidge Energy, Inc. purchases Arena Resources, Inc.

Investment Advisor

Advised onSandRidge Energy, Inc. purchases Arena Resources, Inc.

Underwriter

Advised onSandRidge Energy, Inc. issued USD Common Stock

Legal Advisor

Advised onSandRidge Energy, Inc. purchases Arena Resources, Inc.

Legal Advisor

Advised onSandRidge Energy, Inc. purchases Arena Resources, Inc.

Chairman, Corporate Practice

Advised onSandRidge Energy, Inc. purchases Arena Resources, Inc.

Advisors & Consultants
Publicist

Co-Founder at MacKenzie Partners, Inc.

Advisor

Head, Oil & Gas Group at Houlihan Lokey Howard & Zukin, Inc.

Legal Advisor

Partner at Davis Polk & Wardwell LLP

Clients

Plains All American Pipeline, L.P. is a publicly traded master limited partnership (“MLP”) engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products (together "NGL"). Through our general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), we are also engaged in the development and operation of natural gas storage facilities. We own and operate a diversified portfolio of strategically located assets that play a vital role in the movement of U.S. and Canadian energy supplies. On average we handle over 3 million barrels per day of crude oil, refined products and NGL through our extensive network of assets located in key North American producing basins and transportation gateways. As an MLP, we make quarterly distributions of our available cash to our Unitholders. Since our initial public offering in 1998, we have increased our quarterly distribution by 150% to its current level (with February 2013 distribution) of $0.56250 per unit, or $2.25 per unit on an annualized basis. It is our goal to increase our distribution to Unitholders over time through a combination of internal and acquisition-oriented growth. Our common units are traded on the New York Stock Exchange under the symbol "PAA." We are headquartered in Houston, Texas

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities; and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value added services such as storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters; storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded on October 27, 2005 and is headquartered in Houston, TX.

The Sinclair Cos. operates oil refineries, pipelines and exploration operations. It owns and operates two refineries supplying gasoline, diesel fuel and jet fuel products. The firm provides exploration, production, refining, crude oil purchasing, transportation, trucking and marketing services. The company was founded by Harry F. Sinclair on May 1, 1916 and is headquartered in Salt Lake City, UT.

Key Stats and Financials As of 2019
Market Capitalization
$180M
Total Enterprise Value
$202M
Earnings Per Share
$-12.68
Debt TEV
0.29x
TEVNet Income
-0.45x
Enterprise Value EBITDAOperating
1.61x
Enterprise Value / Sales
0.76x
Total Equity
$402M
Total Debt
$57.5M
EBITDAMargin
46.87%
EBITDA
$125M
Net Profit
$-449M
Revenue
$267M
Five Year Compounded Annual Growth Rate Of Revenue
-29.74%
Three Year Compounded Annual Growth Rate Of Revenue
-12.05%
Investors
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Ares Private Equity Group focuses on investment strategies as corporate private equity, special situations and U.S. power and energy infrastructure. The firm manages three dedicated investment teams in North America, Europe and China. They invest opportunistically across a broad spectrum of distressed or mispriced investments, including corporate debt, rescue capital, private asset-backed investments, post-reorganization securities and non-performing portfolios.Ares Private Equity Group makes majority, minority and shared-control investments, mainly in under-capitalized middle-market companies. The firm’s target investment characteristics are: leading market share and brand awareness, entrenched position with customers, low-cost operations relative to industry peers, strong return on net assets, experienced management team with meaningful equity ownership and a focus on growth, demonstrated ability to withstand economic downturns and strong EBITDA to free cash flow conversion. The firm provides financing for leveraged control buyouts, growth equity, rescue/de-leveraging capital and distressed buyouts/discounted debt accumulation capital requirements. The firm’s investment size ranges from $25 to $75 million in businesses predominately located or operating in Greater China (mainland China, Hong Kong, Macau, and Taiwan).

Suppliers
Forbes Energy Services Ltd. Oil & Gas | Alice, TX

Forbes Energy Services Ltd. engages in the provision of drilling-related and production-related services to oil and natural gas companies. It operates through the following segments: Well Servicing, Coiled Tubing, and Fluid Logistics. The Well Servicing segment provides well maintenance, well workovers, completion and swabbing activities, plugging and abandonment services, and pressure testing of oil and natural gas production. The Coiled Tubing segment offers a range of services accomplishing a wide variety of goals including horizontal completions, well bore clean-outs and maintenance, nitrogen services, thru-tubing services, formation stimulation using acid and other chemicals, and other pre- and post-hydraulic fracturing well preparation services. The Fluid Logistics segment utilizes its fleet of owned and leased fluid transport truck and related assets to provide, transport, store, and dispose of a variety of drilling and produced fluids. The company was founded by John E. Crisp, Janet L. Forbes and Charles C. Forbes, Jr. in September 2003 and is headquartered in Alice, TX.

Cawley, Gillespie & Associates, Inc. Oil & Gas | Houston, TX

Cawley, Gillespie & Associates, Inc. is an American private company located in Houston, TX. The firm provides petroleum consulting services.

Ryder Scott Co. LP Management Consulting | Houston, TX

Ryder Scott Co. LP is an American private company located in Houston, TX. The firm provides reservoir-evaluation consulting services.

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