Shares of SandRidge (NYSE: SD) are down sharply today after Chesapeake Energy (CHK +0.00%) sold off its Mississippian assets for less than analysts had expected: $1.02 billion for 425 thousand acres, or $2,400 per acre. SandRidge is now largely levered to the Mississippian after selling off its Permian assets and concentrating in the Mississippian region. In this video, Motley Fool energy analyst Joel South tells investors why this deal may have spooked SandRidge investors a bit too far, why the company may now be oversold on this market reaction, and why now may be a good time to buy.
SandRidge Punished After Chesapeake Sells Assets
By Joel South – Feb 25, 2013 at 12:24PM
OTC: CHKA.Q
Chesapeake Energy
SandRidge hit hard after Chesapeake sells its Mississippian assets.
About the Author
Joel is a University of Washington graduate and covers energy and materials for The Motley Fool. Be sure to follow The Motley Fool's energy and materials Twitter for all your energy and materials coverage.
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