SandRidge Energy, Inc. (OTCMKTS:SDOCQ) is an independent energy company historically focused on the exploration, development and production of oil, natural gas and natural gas liquids in the continental United States. Over its operations life, the company’s core acreage centered on the Mississippian oil play in Oklahoma, supplemented by interests in North Texas and offshore Gulf of Mexico prospects. SandRidge’s activities have included geological evaluation, drilling programs and midstream services to transport and market produced hydrocarbons.
The company traces its roots to a 2006 spin-off from Chesapeake Energy, under the leadership of founder Thomas L. Ward. Through the late 2000s and early 2010s, SandRidge grew via acquisitions in the Mid-Continent region and the development of its oilfield services arm. A downturn in commodity prices and elevated debt led the company to file for Chapter 11 protection in May 2016. After restructuring its balance sheet, SandRidge emerged later that year under a new capital structure designed to reduce leverage.
Since emergence, SandRidge has completed the divestiture of substantially all of its upstream assets and oilfield services interests. The reorganized entity, trading on the OTC Pink under the ticker SDOCQ, no longer holds material producing properties. Instead, it maintains certain tax assets, litigation claims and residual interests, with an overarching objective to monetize these holdings for the benefit of creditors and shareholders.
SandRidge’s board and management team bring experience in corporate restructuring, asset monetization and energy sector transactions. Under the leadership of President and Chief Executive Officer James G. Bennett III and a complement of independent directors, the company continues to explore strategic alternatives aimed at maximizing value from its remaining assets and claims.
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