Myth465 Posted May 27, 2011 Share Posted May 27, 2011 They bot 90k for 800millions couple years ago. Now, IPO 60% of 16k (net 100k) for 6-700millions... that's good business. I know there is cost associated with it... I am very tempted to add back. I am going to hold. When we take out the new highs or if. I plan on selling a chunk and then will add on a pullback with the excess proceeds and a bit more. I am kicking myself for not taking gains at $13, adding at $10, and preparing to sell the new leaps. This will be done in my Roth. I think I will exercise my $5 2012s in my taxable account. I will do this on the next go round. I cant add, similar to ATSG - SD is dominating my portfolio. Oil and Gas is my portfolio which makes it even tougher. I have sold off Petrobank, and Diamond and will sell Ensco soon. Now its just SD and TAT. I think SD will continue to trade with oil prices though inmo so we have plenty of chances. This just got a whole lot more interesting. I notice Ward did this right after his last conference, we wont hear from him till July Q2 call or August. Interesting. He can do this for quite a while. He could do it again, close the funding gap, buy a bunch of cheap rigs and do another one in the Permian or Miss for more cash. I think demand is there as long as rates are low and oil prices are high. We get paid up front and get a kicker on the upside. He could delever through this lol. Very interesting indeed..... If we pullback to $10 I may sell something and buy. Link to comment Share on other sites More sharing options...
alertmeipp Posted May 28, 2011 Share Posted May 28, 2011 Hope it won't go back to 10, I have enough. ;D Oil stocks actually not dropping much in the 2nd part of the oil drops. We know oil companies don't need 100+ oil to be very profitable. Link to comment Share on other sites More sharing options...
Swizzled Posted June 2, 2011 Share Posted June 2, 2011 I made a few notes from the recent conference call. I still can't get over how different this company is from the Sandridge of 2009. http://seekingalpha.com/article/272825-sandridge-energy-finding-salvation-through-oil-production Link to comment Share on other sites More sharing options...
Myth465 Posted June 2, 2011 Share Posted June 2, 2011 I made a few notes from the recent conference call. I still can't get over how different this company is from the Sandridge of 2009. http://seekingalpha.com/article/272825-sandridge-energy-finding-salvation-through-oil-production Thanks Swizzled, always enjoy your reports. You were right about one thing, tough to value. I am looking for 50% of NAV calculated by Ward and his team. Though the market is putting insane prices on smaller tracks via the trusts. The calculated land values are ....... Link to comment Share on other sites More sharing options...
alertmeipp Posted July 21, 2011 Share Posted July 21, 2011 looks like FFH is selling out SD. http://investors.sandridgeenergy.com/phoenix.zhtml?c=196066&p=irol-SECText&TEXT=aHR0cDovL2lyLmludC53ZXN0bGF3YnVzaW5lc3MuY29tL2RvY3VtZW50L3YxLzAwMDEyMDkxOTEtMTEtMDQwMzQ1L3htbA%3d%3d#F1 Link to comment Share on other sites More sharing options...
gordoffh Posted July 21, 2011 Share Posted July 21, 2011 after seeing this news i had to revisit the story - it is my largest holding - everything looks to be coming together - Permian trust,drilling,oil prices,selling of Petrohawk at a very nice premium - of course world events,failure of trust and missed guidance on production for quarter would hurt especially the last - i will hold - maybe they have other need for the cash - they still own a lot of convertibles for now anyway - i believe mr. wasta owned some SD in his own accounts - is he still holding Link to comment Share on other sites More sharing options...
Myth465 Posted July 21, 2011 Share Posted July 21, 2011 Still my largest holding. I want to lighten up a bit around $13. I love these trusts and would love to see another Permian trust right after, followed by a Miss trust. The economics are amazing in my opinion. Hopefully we are hedging every drop of oil in production at $100 out 2 years.... Link to comment Share on other sites More sharing options...
Liberty Posted July 22, 2011 Share Posted July 22, 2011 http://www.gurufocus.com/news/139373/prem-watsa-reduces-holdings-in-sandridge-energy Link to comment Share on other sites More sharing options...
ourkid8 Posted August 5, 2011 Share Posted August 5, 2011 http://finance.yahoo.com/news/SandRidge-Energy-Inc-Reports-prnews-3675657076.html?x=0&.v=1 Signs $500 Million Mississippian Joint Venture Launches New Mississippian Play, Targeting One Million Acres Announces Three-Year Strategic Plan - Self-Funding Capital Program - Double-Digit Annual Production Growth - Debt to EBITDA Ratio of Less Than 2:1 Increases 2011 Production Guidance to 24.1 MMBoe, 20% Growth from 2010 I am shocked by the steep sell-off as the numbers were actually pretty good once you subtract the one time items... Thanks, S Link to comment Share on other sites More sharing options...
rijk Posted August 5, 2011 Share Posted August 5, 2011 - debt - oil prices down - fairfax selling > 20 million shares the first 2 can be debated but the third one can't....... regards rijk Link to comment Share on other sites More sharing options...
rogermunibond Posted August 5, 2011 Share Posted August 5, 2011 CC must have gone badly. Off over 20% today. Sheesh. Link to comment Share on other sites More sharing options...
S2S Posted August 5, 2011 Share Posted August 5, 2011 - debt - oil prices down - fairfax selling > 20 million shares the first 2 can be debated but the third one can't....... regards rijk ... much of which should have been reflected in yesterday's closing price. CC must have gone badly. Off over 20% today. Sheesh. I wasn't listening in, but I doubt it; Ward's team has always been very polished in their interaction with analysts and investors. My initial read is that the market seems worried about higher '11 and '12 capex - the current market volatility introduces the risk that not all of the (now larger) funding gap can be filled with new JVs/trusts. Link to comment Share on other sites More sharing options...
rogermunibond Posted August 5, 2011 Share Posted August 5, 2011 Thanks S2S... in other words Tom Ward has come down with a case of Chesapeakitis. Link to comment Share on other sites More sharing options...
Myth465 Posted August 5, 2011 Share Posted August 5, 2011 My theory is different. I think people are selling their winners...... Link to comment Share on other sites More sharing options...
S2S Posted August 5, 2011 Share Posted August 5, 2011 My theory is different. I think people are selling their winners...... That might be why Prem sold... at today's price, there just isn't much "winning" to be had for most people. Link to comment Share on other sites More sharing options...
Myth465 Posted August 5, 2011 Share Posted August 5, 2011 To be honest I am glad Tom Ward is buying land ;D. Today sucks my networth has taken a significant hit now that SD and ATSG have collapsed. I am probably going to sell ATPG for a loss (tax reasons), buy tons of SD 2013s, and sell my 2012s at a gain. Ward flipped land bought last year for 20x the purchase price, he can do what he wants to inmo when it comes to buying land..... Link to comment Share on other sites More sharing options...
rogermunibond Posted August 5, 2011 Share Posted August 5, 2011 Myth - I like your interpretation better. How about Hete's pronouncement at the end of the ATSG call... nice to hear from a CEO. Link to comment Share on other sites More sharing options...
Myth465 Posted August 5, 2011 Share Posted August 5, 2011 Myth - I like your interpretation better. How about Hete's pronouncement at the end of the ATSG call... nice to hear from a CEO. Do you mind posting what he said. I am playing catchup today. Everything I own is being hammered. I liked the ATSG close but havent listened to the call. Link to comment Share on other sites More sharing options...
rogermunibond Posted August 5, 2011 Share Posted August 5, 2011 I'm paraphrasing but basically he said that at our current stock price, buyers will be generously rewarded. Link to comment Share on other sites More sharing options...
Myth465 Posted August 5, 2011 Share Posted August 5, 2011 I'm paraphrasing but basically he said that at our current stock price, buyers will be generously rewarded. I am a big Hete fan. Bought a bit at 5.20. I still think its worth $16..... Link to comment Share on other sites More sharing options...
ourkid8 Posted August 5, 2011 Share Posted August 5, 2011 I just doubled my position in SD @ $7.029 by selling half my position in ATPG. Thanks, S EDIT: I just put an edit that I sold my other half position in ATPG but the trade did not execute and I just cancelled it right now! YAY cause of the rebound... Link to comment Share on other sites More sharing options...
gordoffh Posted August 5, 2011 Share Posted August 5, 2011 after seeing this news i had to revisit the story - it is my largest holding - everything looks to be coming together - Permian trust,drilling,oil prices,selling of Petrohawk at a very nice premium - of course world events,failure of trust and missed guidance on production for quarter would hurt especially the last - i will hold - maybe they have other need for the cash - they still own a lot of convertibles for now anyway - i believe mr. wasta owned some SD in his own accounts - is he still holding i guess i should have revisited a little harder - talk about a timely sell Link to comment Share on other sites More sharing options...
DCG Posted August 8, 2011 Share Posted August 8, 2011 huh..down to around $6.50. Link to comment Share on other sites More sharing options...
Myth465 Posted August 12, 2011 Share Posted August 12, 2011 Great article. http://seekingalpha.com/article/287091-a-second-opportunity-to-invest-in-sandridge-energy-at-a-bargain-price Link to comment Share on other sites More sharing options...
ourkid8 Posted August 12, 2011 Share Posted August 12, 2011 Myth - Great article... I am really happy I got the opportunity to double my position in SD as I am very happy with the oil plays in the pipeline! :) Great article. http://seekingalpha.com/article/287091-a-second-opportunity-to-invest-in-sandridge-energy-at-a-bargain-price Link to comment Share on other sites More sharing options...
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