SandRidge Energy, $6.89, symbol SD on New York (Shares outstanding: 409.9 million; Market cap: $2.8 billion; www.sandridgeenergy.com), is an Oklahoma City-based oil and gas firm.
The company mainly explores for oil and natural gas in west Texas, the Cotton Valley Trend in east Texas, the Gulf Coast, the mid-continent region and the Gulf of Mexico.
SandRidge and its subsidiaries own and operate gas-gathering and processing plants and carbon-dioxide treatment and transportation facilities. In addition, one of the company’s subsidiaries, wholly owned Lariat Services, Inc., owns and operates a drilling rig and a related oilfield services business.
The company will likely be able to increase its oil and gas production. However, its $2.9-billion debt is a high 104% of its $2.8-billion market cap. Moreover, the company only holds cash of $4.6 million. Sandridge’s high debt and low cash reserves add considerable risk. Today’s lower oil prices heighten that risk.
We don’t recommend SandRidge Energy.
Energy.
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Privacy Policy and Terms of Use
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Changes to this Policy
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