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SD - SandRidge Energy

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muscleman Newbie

muscleman

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Yes. If this can be verified, then SD will be solid. Let's try to verify the well data. I will spend some time to dig into it, and any of you, if you can verify the data please let me know.

Notice that people on Yahoo message board may post fake news to pump the stock price so they can get out. We should be cautious. :)

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Cunninghamew Newbie

Cunninghamew

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This may or may not be a useful link... http://zmansenergybrain.com/welcome-to-zmans-energy-brain/

 

This is a pay site that covers a lot of the E&P guys. Unfortunately, zman (@zmansenrgybrain on twitter) does not cover SD. However, he does cover a lot of the other E&P companies and tracks the plays pretty closely. I think he opens up his site for free every once in a while, so worth bookmarking. He might also have it where old content can be viewed for free.

 

He does pretty good IMO. I will dig around and see if I can find comp. well results in the Miss Lime.

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willie2013 Newbie

willie2013

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Yes. If this can be verified, then SD will be solid. Let's try to verify the well data. I will spend some time to dig into it, and any of you, if you can verify the data please let me know.

Notice that people on Yahoo message board may post fake news to pump the stock price so they can get out. We should be cautious. :)

 

Searched the Tulsa World site for "Sandridge" and found that they publish a weekly article, titled Oklahoma Oil and Gas Drilling.  The articles list completions by SD and others. And, the articles cite a source: Oil-Law Record Corp. with this further detail, " for more information or to order a detailed drilling report, visit www.oil-law.com." 

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muscleman Newbie

muscleman

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Yes. If this can be verified, then SD will be solid. Let's try to verify the well data. I will spend some time to dig into it, and any of you, if you can verify the data please let me know.

Notice that people on Yahoo message board may post fake news to pump the stock price so they can get out. We should be cautious. :)

 

Searched the Tulsa World site for "Sandridge" and found that they publish a weekly article, titled Oklahoma Oil and Gas Drilling.  The articles list completions by SD and others. And, the articles cite a source: Oil-Law Record Corp. with this further detail, " for more information or to order a detailed drilling report, visit www.oil-law.com."

 

Thank you!

Now let's assume the data source from Tulsa World is correct. I checked a few articles there, and the well data varies drastically.

 

Last October, they had a streak of poor wells.

http://www.tulsaworld.com/article.aspx/Oklahoma_oil_and_gas_drilling/20121023_49_E4_hMonda134324

 

Earlier before, they have a mix of good and bad wells.

http://www.tulsaworld.com/article.aspx/Oklahoma_oil_and_gas_drilling/20120710_501_E4_hMonda498286

 

Recently, all wells that they drilled are strong.

http://www.tulsaworld.com/article.aspx/Oklahoma_oil_and_gas_drilling/20130611_49_E4_hMonda239064

 

So either TPG has had positive effects, or they started to have better luck. I would hope it is the former, or maybe TW's engineering team started to gain expertise in the fields and started to do a better job. :)

 

Note that according to the map in their presentation, these wells are all in their focus areas.

If the IP 30 days of oil has increased from 140 bbl/day to 240 bbl/day, the type curve and IRR could change a lot.

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PhatKing Newbie

PhatKing

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There is a fantastic spreadsheet on all wells drilled from Jan 2013 to May 2013, developed by "rjf53" on Motley fool. You can use the spreadsheet and see for yourself, the progress made in getting better drilling results by SD. One of the reasons mentioned in the discussion thread is that SD is perhaps using ESP technology (Electric submersible pumps) to get more oil out. A lot of work has gone into this spreadsheet and so am thankful to "rjf53" for being so generous and sharing his work.

 

http://boards.fool.com/ot-a-request-for-help-30732491.aspx

 

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muscleman Newbie

muscleman

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Google finance showing some fairly heavy action in JAN14 $7 Calls - 19,328 against open interest of 60,000 and JAN14 $5 Puts 13,545 against open interest of 64,991.

Does anyone has access to secondary market data so we could find out if these calls and puts went through on the bid price or the ask price at that time?

I could only tell that about 13510 calls and puts went through at market open. My theory is that someone sold puts to finance his calls to construct a synthetic leveraged long position, but I hope someone secondary market data can confirm. :)

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muscleman Newbie

muscleman

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There is a fantastic spreadsheet on all wells drilled from Jan 2013 to May 2013, developed by "rjf53" on Motley fool. You can use the spreadsheet and see for yourself, the progress made in getting better drilling results by SD. One of the reasons mentioned in the discussion thread is that SD is perhaps using ESP technology (Electric submersible pumps) to get more oil out. A lot of work has gone into this spreadsheet and so am thankful to "rjf53" for being so generous and sharing his work.

 

http://boards.fool.com/ot-a-request-for-help-30732491.aspx

 

Thank you!

I was looking for some convincing data that shows the gradual increase of Initial 30 day BOEPD, so I took the data there and drew the chart. This chart's horizontal is the time, from January to May, and vertical is the BOEPD, and I added a 10 moving average. I did see a slight increase in the initial production number, but not that significant.

This is not sufficient to convince me to jump back in. :)

SD_wells_from_January_2013_to_May_2013.png.a12b776849c9fdf9062e924444143205.png

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valuecfa Newbie

valuecfa

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I got a text from a coworker saying that Leon Cooperman  (~6% SD owner) was on CNBC recently talking about Sandridge Energy... saying that there will be a mgmt shakeup soon and the stock could double in a week. Something to that effect. Being that he is a large shareholder and has likely had communications with TPG & Mount Kellet...I'm wondering if there is any credibility to his comments on the mgmt shakeup and what the context of his comments were.

 

Can anyone that was watching the CNBC talking heads concur?

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CorpRaider Newbie

CorpRaider

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Yeah I saw Cooperman.  I guess the link is the entire video; I didn't watch it, but he said they think it is worth $10 and they think there will be news on a management shakeup around the end of the month that the market will like.  I think he reads this board, except his value might be a little low.  haha.

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tombgrt Newbie

tombgrt

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saying that there will be a mgmt shakeup soon and the stock could double in a week.

 

 

he said they think it is worth $10

 

How biases influence what we hear! :)

 

 

in the turnaround category, one company called sandridge which is more speculative, sells around 5 bucks. we think the assets are worth somewhere closer to 10 and we think they'll be managerial changes in the coming weeks which the street will like. con mara. we think the underlying asset value of the company.

 

"Assets worth somewhere closer to $10" isn't exactly saying that it's worth $10 and especially not saying that the stock could double in a week.  ;D Wouldn't give too much value to what a few guys say what something is worth, even if they are the world's best in their profession.

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CONeal Newbie

CONeal

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Well since its now official that Ward is out, wondering how much it cost us for him to leave.

 

nevermind- wish I had a package like this to be kicked out.

 

the vesting of 6,331,475 shares of previously granted restricted stock; a lump sum cash payment of $53.5 million, comprised of three times the average of his last three annual bonuses, his accrued vacation, and the value of the restricted stock that Ward would have received over the next three years if his employment with the company had continued; and his current base salary to be paid for a period of 36 months.

 

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plato1976 Newbie

plato1976

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d*mn, it's expensive; in the north of 90M ...

sigh ...

 

Well since its now official that Ward is out, wondering how much it cost us for him to leave.

 

nevermind- wish I had a package like this to be kicked out.

 

the vesting of 6,331,475 shares of previously granted restricted stock; a lump sum cash payment of $53.5 million, comprised of three times the average of his last three annual bonuses, his accrued vacation, and the value of the restricted stock that Ward would have received over the next three years if his employment with the company had continued; and his current base salary to be paid for a period of 36 months.

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Kraven Newbie

Kraven

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d*mn, it's expensive; in the north of 90M ...

sigh ...

 

Well since its now official that Ward is out, wondering how much it cost us for him to leave.

 

nevermind- wish I had a package like this to be kicked out.

 

the vesting of 6,331,475 shares of previously granted restricted stock; a lump sum cash payment of $53.5 million, comprised of three times the average of his last three annual bonuses, his accrued vacation, and the value of the restricted stock that Ward would have received over the next three years if his employment with the company had continued; and his current base salary to be paid for a period of 36 months.

 

Takes the sting out of being canned a bit. It's like being a 16 year old boy and getting kicked out of school and forced to work at the Playboy Mansion as punishment.

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Parsad Newbie

Parsad

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d*mn, it's expensive; in the north of 90M ...

sigh ...

 

Well since its now official that Ward is out, wondering how much it cost us for him to leave.

 

nevermind- wish I had a package like this to be kicked out.

 

the vesting of 6,331,475 shares of previously granted restricted stock; a lump sum cash payment of $53.5 million, comprised of three times the average of his last three annual bonuses, his accrued vacation, and the value of the restricted stock that Ward would have received over the next three years if his employment with the company had continued; and his current base salary to be paid for a period of 36 months.

 

Takes the sting out of being canned a bit. It's like being a 16 year old boy and getting kicked out of school and forced to work at the Playboy Mansion as punishment.

 

It stings if you are a shareholder, and held this thing for the last 5 years!  You bet on Tom Ward 5+ years ago, and here you are...lost 60-90% of your investment and he walks away with $90M, plus all of his salary and bonuses for the last five years.  How is that equitable? 

 

Highway robbery in my opinion!  Don't care how much talent or value he can create if this is considered ethical.  It wasn't TPG who put that compensation plan in place...nor the enormous debt load and leverage...or the inordinate amounts of annual capex. 

 

Could he have restored value if left in place...maybe.  But he definitely took care of himself before the shareholders.  Cheers!

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Kraven Newbie

Kraven

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Posted

d*mn, it's expensive; in the north of 90M ...

sigh ...

 

Well since its now official that Ward is out, wondering how much it cost us for him to leave.

 

nevermind- wish I had a package like this to be kicked out.

 

the vesting of 6,331,475 shares of previously granted restricted stock; a lump sum cash payment of $53.5 million, comprised of three times the average of his last three annual bonuses, his accrued vacation, and the value of the restricted stock that Ward would have received over the next three years if his employment with the company had continued; and his current base salary to be paid for a period of 36 months.

 

Takes the sting out of being canned a bit. It's like being a 16 year old boy and getting kicked out of school and forced to work at the Playboy Mansion as punishment.

 

It stings if you are a shareholder, and held this thing for the last 5 years!  You bet on Tom Ward 5+ years ago, and here you are...lost 60-90% of your investment and he walks away with $90M, plus all of his salary and bonuses for the last five years.  How is that equitable? 

 

Highway robbery in my opinion!  Don't care how much talent or value he can create if this is considered ethical.  It wasn't TPG who put that compensation plan in place...nor the enormous debt load and leverage...or the inordinate amounts of annual capex. 

 

Could he have restored value if left in place...maybe.  But he definitely took care of himself before the shareholders.  Cheers!

 

It isn't. That's my point!

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