Sandridge Energy, Inc. (OTCBB: SDOC) Moves from the NYSE to the OTC Markets
SandRidge Energy, Inc. is an oil and natural gas exploration and production company headquartered in Oklahoma with its principal focus on developing high-return, growth oriented projects in the Mid-Continent region of the United States. In addition, SandRidge owns and operates a saltwater gathering and disposal system and a drilling rig and related oil field services business.
Our View: On January 7, 2016, SandRidge Energy, Inc. was notified by the New York Stock Exchange that due to “abnormally low” trading price levels, the NYSE has determined to commence proceedings to delist its common stock. Trading in the Company’s common stock was suspended after market hours on January 6, 2016. The Company does not intend to appeal the determination and, therefore, it is expected the Company’s common stock will be delisted. Effective January 7, the common stock of the Company commenced trading on the OTC Pink marketplace under the symbol “SDOC.”
Board of Directors has decided to suspend payment of the $4.25 per share semi-annual dividend on 2,650,000 shares of its 8.5% Convertible Perpetual Preferred Stock.
Last year the company had $1.5 billion in revenue and had $7.2 billion in assets. SDOC is at the heart of the “drilling-earthquake” controversy and its suffering from unusually low oil prices. It is worthy to note that the company (as of 3Q financials) has $790 million in cash. The current market value of the company is only $44 million and while its debt is substantial, they have a few years before that debt becomes a real issue. The future of SDOC is directly tied to the future of oil prices. Investors wanting to bet on a rebound in the oilfield may see $.08 per share as a bargain to hold on to.
Broad street alerts has compensated the author of this report up to two hundred and fifty dollars for the redistribution rights for a period of up to 30 days.
BroadStreetAlerts.com is a wholly owned subsidiary of Small Cap Specialists LLC, herein referred to as SCS LLC.
Our reports/releases are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. We have not been compensated in any form by any entity for this report. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The disclaimer is to be read and fully understood before using our services, joining our site or our email/blog list as well as any social networking platforms we may use.
PLEASE NOTE WELL: SCS LLC and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever.
Release of Liability: Through use of this website viewing or using you agree to hold SCS LLC, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. SCS LLC encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SCS LLC makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. None of the materials or advertisements herein constitute offers or solicitations to purchase or sell securities of the companies profiled herein and any decision to invest in any such company or other financial decisions should not be made based upon the information provide herein. Instead SCS LLC strongly urges you conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. SCS LLC is compliant with the Can Spam Act of 2003. SCS LLC does not offer such advice or analysis, and SCS LLC further urges you to consult your own independent tax, business, financial and investment advisors. Investing in micro-cap and growth securities is highly speculative and carries and extremely high degree of risk. It is possible that an investor’s investment may be lost or impaired due to the speculative nature of the companies profiled.
The Private Securities Litigation Reform Act of 1995 provides investors a ‘safe harbor’ in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be “forward looking statements”. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as “projects”, “foresee”, “expects”, “will”, “anticipates”, “estimates”, “believes”, “understands”, or that by statements indicating certain actions & quote; “may”, “could”, or “might” occur. Understand there is no guarantee past performance will be indicative of future results.
In preparing this publication, SCS LLC has relied upon information supplied by its customers, publicly available information and press releases which it believes to be reliable; however, such reliability cannot be guaranteed. Investors should not rely on the information contained in this website. Rather, investors should use the information contained in this website as a starting point for doing additional independent research on the featured companies. The advertisements in this website are believed to be reliable, however, SCS LLC and its owners, affiliates, subsidiaries, officers, directors, representatives and agents disclaim any liability as to the completeness or accuracy of the information contained in any advertisement and for any omissions of materials facts from such advertisement. SCS LLC is not responsible for any claims made by the companies advertised herein, nor is SCS LLC responsible for any other promotional firm, its program or its structure.
SCS LLC is not affiliated with any exchange, electronic quotation system, the Securities Exchange Commission or FINRA. SCS LLC is not a Broker/Dealer and does not engage in high frequency trading.