This segment is from Thursday's edition of Digging for Value, in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors: @TMFEnergy.

It's hard to believe markets are efficient when you see irrational behavior around earnings season. This week, both Chesapeake Energy (NYSE:CHK) and SandRidge Energy (UNKNOWN:SD.DL) announced spectacular quarterly results, again confirming the tremendous headway new management is making with both firms, but the market punished both companies, as they each lost 10% of their market capitalization. Is there a weakness in both Chesapeake and SandRidge's business, or does this sell-off present another buying opportunity? See more in the following video.