Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  SandRidge Energy Inc.    SD

No quotes available
-- USD   0.00%
09/27 SANDRIDGE ENERG : Bankruptcy Filings Stories from the Bankruptcy Cou..
09/20 SANDRIDGE ENERG : Bankruptcy Filings Plan Confirmations
09/12 SANDRIDGE ENERG : Bankruptcy Filings Plan Confirmations
News SummaryMost relevantAll newsSector news 

Mount Kellett Calls for Probe, Suspension of SandRidge CEO Ward

share with twitter share with LinkedIn share with facebook
share via e-mail
01/17/2013 | 03:59pm CEST
   By Melodie Warner 

Investment firm Mount Kellett Capital Management LP has called for the suspension of SandRidge Energy Inc. (>> SandRidge Energy Inc.) Chief Executive Tom Ward and an investigation of allegations he and his son benefited from mineral rights sold to the oil and gas producer.

SandRidge has come under increased pressure from certain shareholders to shake up its board, to replace Mr. Ward and to explore a possible sale of the company.

Last month, TPG-Axon Capital Management LP filed consent-solicitation documents with the U.S. Securities and Exchange Commission seeking shareholder approval to change the energy company's bylaws and replace its entire board of directors, including Mr. Ward. The fund, which owns about 6.7% of SandRidge's outstanding shares, also said SandRidge's management has made "major strategic missteps" and spent too much money unwisely.

SandRidge has said TPG-Axon's plan would be costly and detrimental to other investors. The oil-and-gas producer also urged its shareholders to reject the proposal and described the hedge fund as part of a group of "dissident opportunistic stockholders with short-term interests."

Mount Kellett, run by former Goldman Sachs Group Inc. (>> Goldman Sachs Group, Inc.) executives, owns about 4.5% of SandRidge's shares.

The firm said Thursday that TPG-Axon has alleged Mr. Ward and a trust purportedly run by his son engaged in "persistent front running of the company."

Mount Kellett said it expected the company and Mr. Ward to issue a denial of the allegations, but there has only been the assertion that Mr. Ward had no involvement in the trust.

Mount Kellet said it wants the board to conduct an independent investigation of the allegations, during which Mr. Ward should be suspended from serving as chairman and CEO.

A SandRidge representative wasn't immediately available for comment.

SandRidge shares were recently trading three cents higher at $6.82.

Write to Melodie Warner at melodie.warner@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : SandRidge Energy Inc., Goldman Sachs Group, Inc.
share with twitter share with LinkedIn share with facebook
share via e-mail
09/27 SANDRIDGE ENERGY : Bankruptcy Filings Stories from the Bankruptcy Court Dockets
09/20 SANDRIDGE ENERGY : Bankruptcy Filings Plan Confirmations
09/14 SANDRIDGE ENERGY INC : Bankruptcy or Receivership, Other Events, Financial State..
09/12 SANDRIDGE ENERGY : Bankruptcy Filings Plan Confirmations
09/12 SANDRIDGE ENERGY : to emerge from bankruptcy protection
09/09 SANDRIDGE ENERGY : overcomes shareholder fight to exit bankruptcy
09/09 SANDRIDGE ENERGY : Plan of Reorganization Confirmed by Court
08/16 SANDRIDGE ENERGY : seeks to emerge from bankruptcy next month
08/15 SANDRIDGE ENERGY : seeks to emerge from bankruptcy next month
08/15 SANDRIDGE ENERGY : Management's Discussion and Analysis of Financial Condition a..
More news
Sector news : Oil & Gas Exploration and Production - NEC
07:15aDJCanada Gives Conditional Approval to Petronas's LNG Terminal
09/27DJAGL Energy Adds Oil Search's CEO to its Board
09/27 When deals go bad - China state firm managers spooked by new liability rules
09/26 BofA to pay $15.5 million fines for causing 'mini-flash crashes'
09/26DJMerrill Lynch to Pay $12.5 Million Fine for Mini-Flash Crashes
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
09/14 SANDRIDGE ENERGY : Soon Emerging From Bankruptcy
09/13 Oklahoma, EPA trim well shut-in plans after earthquake
09/09 ENERGY RECAP : Updating The Oil Rig Count, Natural Gas Data
09/06 Oklahoma quake may trigger calls for more limits on wastewater wells
09/02 SANDRIDGE ENERGY : Debt-Light, But Strategic Challenges Remain
Financials ($)
Sales 2016 -
EBIT 2016 -
Net income 2016 -
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 0
Capi. / Sales 2017 0
Capitalization 5,48 M
More Financials
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 2
Average target price 0,45 $
Spread / Average Target 5 821%
Consensus details
James D. Bennett President, Chief Executive Officer & Director
Jeffrey S. Serota Non-Executive Chairman
Steve Turk Chief Operating Officer & Executive Vice President
Julian Mark Bott Chief Financial Officer & Executive VP
Everett R. Dobson Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CNOOC LTD13.69%53 188
More Results