TPG-Axon won its bid to overhaul SandRidge Energy's (NYSE: SD) board of directors; however, the company continues to fall, currently sitting around 52-week lows.
With the stock trading below $5 per share, SandRidge presents an attractive value proposition. With 1.85 million net acres in the Mississippian Lime, in addition to 32 thousand barrels of oil equivalent per day production in the Gulf of Mexico, SandRidge is trading significantly below its net asset value. In addition, the company has its capital expenditures covered for the next year after unloading interests in the Permian Basin for $2.6 billion. Check out the video below for more information on SandRidge.
