Tuesday, June 25, 2019

Sandridge Energy News

SandRidge Names McKinney as CEO


SandRidge Draws Interest from Multiple Bidders

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SandRidge Energy Inc has been approached by 26 potential bidders for a buyout of the company or some of its assets, the U.S. shale oil producer said on Friday, days after activist investor Carl Icahn took control of its board. The list includes Midstates Petroleum…

SandRidge Says Approached by 17 Potential Buyers, Including Icahn

Logo: SandRidge Energy

SandRidge Energy Inc said on Friday it had been approached by 17 potential bidders for a buyout, including billionaire Carl Icahn who is fighting for control of the oil and gas producer's board.Icahn has criticized SandRidge's leadership…

Fieldwood Hungry for US Offshore Output

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The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico. Instead, he is doubling down.

SandRidge to Evaluate All Buyout Offers

SandRidge Energy Inc, which is in the middle of a proxy fight with top shareholder Carl Icahn, said on Monday it would evaluate buyout offers, including one from Icahn. The activist investor, who offered to buy the company last week…

Midstates Petroleum Seeks Merger with SandRidge Energy

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A merger could create $1 bln producer in the Mississippian Lime. Midstates Petroleum Co Inc on Tuesday sought to merge with larger rival SandRidge Energy Inc in a deal that could create the biggest oil producer in the Mississippian Lime shale formation.

Icahn Demands Removal of 2 SandRidge Board Members

Top shareholder and activist investor Carl Icahn on Tuesday called for the resignation of two of SandRidge Energy's board members, days after thwarting the oil and gas company's deal to buy Bonanza Creek Energy Inc for $746 million.

Icahn Steps Up Fight Against SandRidge's Plan to Buy Bonanza Creek

Activist investor Carl Icahn on Friday stepped up its fight against SandRidge Energy Inc's plan to buy a rival, urging fellow stockholders to vote against the oil and gas company's plan to issue shares for the $746 million deal. Several…

SandRidge Offers Icahn Some Deal Records, Rebuts Claims

SandRidge Energy Inc on Monday pushed back against activist investors Carl Icahn and Fir Tree Partners' attack on the oil and gas producer's proposed $746 million acquisition of rival Bonanza Creek Energy Inc. In a letter to its shareholders…

Icahn Seeks to Inspect SandRidge Energy Books, Records

Activist investor Carl Icahn has asked to inspect certain books and records of SandRidge Energy Inc , according to a regulatory filing on Friday. Icahn seeks to investigate the compensation of SandRidge's senior management, the proposed…

SandRidge Energy to Buy Bonanza Creek in $746 Mln Deal

(Photo: Bonanza Creek)

Oil and gas producer SandRidge Energy said on Wednesday it would buy rival Bonanza Creek in a deal valued at $746 million to expand its presence in the Denver-Julesburg Basin of Colorado. Shares of SandRidge fell 19.4 percent, while…

SandRidge Energy Seeks Bankruptcy Protection

SandRidge Energy Inc and master limited partnership Breitburn Energy Partners LP filed for bankruptcy protection on Monday, the latest U.S. oil and gas companies to fall victim to weak oil prices. A plunge in global crude prices has…

Energy's Next Problem: Credit Lines

U.S. banks are finally putting tougher lending constraints on cash-strapped energy firms and, on average, such companies could see a 15 percent to 20 percent cut in their credit lines, the head of JP Morgan's commercial bank told investors on Tuesday.

LPC: Energy Companies Drain Loans Before Banks Clamp Down

Troubled US energy companies, maneuvering for stronger negotiating positions if filing for bankruptcy, are racing to tap cash still available under existing reserve-based loan commitments before banks cut their credit access next month.

SandRidge to Evaluate Options Including Bankruptcy

SandRidge Energy Inc said on Wednesday it had engaged advisers to evaluate options including a private restructuring or reorganization under Chapter 11. The company said there was substantial doubt about its ability to continue as a going concern.

Even Bankrupt US Shale Drillers Keep Pumping

As oil prices nosedived by two-thirds since 2014, a belief took hold in global energy markets that for prices to recover, many U.S. shale producers would first have to falter to allow markets to rebalance. With U.S. oil prices now trading below $40 a barrel…

Even Bankrupt Shale Drillers Keep Pumping Oil

As oil prices nosedived by two-thirds since 2014, a belief took hold in global energy markets that for prices to recover, many U.S. shale producers would first have to falter to allow markets to rebalance. With U.S. oil prices now trading below $40 a barrel…

SandRidge No Longer a DoJ Antitrust Target

Oil and gas producer SandRidge Energy Inc said on Friday the company is no longer a target of a federal grand jury probe concerning violations of antitrust law related to the leasing of oil and gas properties. The Oklahoma-based company…

Penn Virginia Files for Bankruptcy Protection

Photo: Penn Virginia

Oil and natural gas producer Penn Virginia Corp said on Thursday it had filed for bankruptcy protection, the latest company to fall victim to the oil price rout. Dozens of U.S. shale companies have sought bankruptcy protection in recent…

Zombies Appear in U.S. Oilfields as Crude Dips Lower

Drained by a 17-month crude rout, some U.S. shale oil companies are merely hanging on for life as oil prices lurch further away from levels that allow them to profitably drill new wells and bring in enough cash to keep them in business.