November 9, 2012
There has been no shortage of attention moving SandRidge's (NYSE: SD ) way the past couple of days. Yesterday, CEO Tom Ward was under attack from one of the company's largest shareholders and today Ward delivered his third-quarter earnings release while his company's stock price was dropping faster than a thermometer in Oymyakon, Russia.
Although the company grew overall production by 15% and adjusted EPS came in above analyst expectations, SandRidge dropped after management again announced plans to deviate from its current strategy. SandRidge announced that it is actively shopping its steady cash flow generating Permian Basin assets and moving all its attention to the Mississippian Lime. Check out the video below for more information on SandRidge's past quarter as well as management's new strategy going forward.
Investors are once again rattled as SandRidge contemplates moving away from its ambitious three-year plan to profitability. However, the future looks bright as the company trades at a fraction of its net asset value. If you are unsure about the future of this emerging oil and gas junior, and are looking to find out more about its strengths and weaknesses, you should read this new premium report detailing SandRidge's game plan and what to expect from the company going forward. To get started -- click here!