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.