Morningstar Rating

Stock Research and Analysis

by Mark Hanson, CFA

Bulls Say

SandRidge has come a long way since its near-collapse in 2008. It has successfully transitioned its asset base from gas to liquids and established itself as a leading operator in one of the more scalable oily plays in the U.S.
SandRidge operates with a bit of a contrarian streak, choosing to focus on conventional drilling opportunities instead of unconventional assets like shale.
SandRidge's inventory should support a decade or more of incrementally profitable growth, even at lower oil and gas prices, in part because of an aggressive hedging program. Read more 

Bears Say

SandRidge has gotten into trouble in the past as a result of too much debt, and despite recent improvements in its financial position, aggressive development plans point to continued balance sheet tightness over the next several years.
For all its promise, the horizontal Mississippian is still in the early stages of development.
SandRidge's reliance on vehicles such as trusts stems from its overleveraged balance sheet and, in our opinion, should be considered a form of debt that's less transparent than traditional financing. Read more 

Management

SandRidge is led by president and CEO James Bennett, who took over for Tom Ward after Ward's forced departure in June 2013. Bennett had served as president and CFO since March 2013 and executive vice president and CFO since January 2011. From 2010 until   Read more 

Profile

Based in Oklahoma City, SandRidge is an independent oil and natural gas company whose operations focus on liquids-rich carbonate plays in the Mid-Continent region of the   Read more 

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