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SANDRIDGE ENERGY, INC. (Exact Name of Registrant As Specified in Its Charter) ______
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ Form 10-Q __________________________ (Mark One) þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2015 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33784 __________________________ SANDRIDGE ENERGY, INC. (Exact name of registrant as specified in its charter) __________________________ Delaware 20-8084793 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 123 Robert S. Kerr Avenue Oklahoma City, Oklahoma 73102 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (405) 429-5500 Former name, former address and former fiscal year, if changed since last report: Not applicable __________________________ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). -
Financial Research & Analysis
Financial Research & Analysis Oil and Gas Accounting Hot Topics 2009 Webcast March 12, 2009 Julie Hilt Hannink [email protected] + 301.354.9919 Today’s Agenda Commodity Price Drives Impairment Charges Borrowing Bases and Covenant Compliance Modernization of SEC Reserve Disclosure LIFO Repeal and Other US Budget Proposals www.riskmetrics.com 2 Commodity Price Plunge Drove Impairments in 4Q08 Relative lack of impairments and price-related impairment charges over the past 6-7 years due to rising oil prices and decent natural gas price trends. Period end pricing most important for Full Cost (FC) companies as ceiling test charges based on those prices. This will change with new SEC rules as it goes to 12-month average. Although 3Q06 and 4Q06 were problematic on the natural gas price front, improved price by report date meant limited impairments in those quarters. Chart 1: Quarterly Closing Oil and Natural Gas Prices 2001-2008 - Price Plunge Expected to Affect Reserve Estimates and Impairments $160 $16 Oil -WTI $140 Natural Gas - HH $14 $120 $12 $100 $10 Natural gas price average $6.13/mcf $80 $8 North Slope $60 US Lower 48 $6 $40 $4 $20 Oil price average $53.26/bbl $2 $0 $0 1Q01 3Q01 1Q02 3Q02 1Q03 3Q03 1Q04 3Q04 1Q05 3Q05 1Q06 3Q06 1Q07 3Q07 1Q08 3Q08 Source: NYMEX, RiskMetrics analysis www.riskmetrics.com 3 Full Cost Ceiling Test Charge Risk Fulfilled Based on high capital spending during the first part of 2009 meant high risk of impairments for companies listed in Chart 2. Significant in the table below are SGY which took $1.3 billion ($850 million AT) impairment charge plus another $466 million in goodwill impairment after spending up for Bois D’Arc and HK which took a $951 million ($600 million AT) impairment charge. -
Insiders See Slide As Opportunity to Buy Officers, Directors Snatch up Shares Before and Amid Last Week’S Gyrations
20110815-NEWS--1-NAT-CCI-CL_-- 8/12/2011 2:41 PM Page 1 VOL. 32, NO. 33 $2.00/AUGUST 15 - 21, 2011 Insiders see slide as opportunity to buy Officers, directors snatch up shares before and amid last week’s gyrations By MICHELLE PARK directors and officers of companies [email protected] including Cliffs Natural Resources Inc., Olympic Steel Inc. and Timken Co. At a time when many investors have have bought tens, and sometimes scurried to sell, a number of Northeast hundreds, of thousands of dollars of Ohio company insiders have hurried to their companies’ stock. buy. Among them were P. Kelly Tomp- In the days before, during and after kins, a Cliffs executive, who bought last Monday’s stock market plunge, See BUY Page 17 Cliffs Natural Resources (CLF) Olympic Steel Inc. (ZEUS) Timken Co. (TKR) Closing price, July 22: $99.86 Closing price, July 22: $28.80 Closing price, July 22: $48.76 Closing price, Aug. 9: $73.71 ■ Change: -26% Closing price, Aug. 9: $20.73 ■ Change: -28% Closing price, Aug. 9: $35.94 ■ Change: -26% Buyers: Buyers: Buyers: ■ Aug. 1, P. Kelly Tompkins, executive vice president: ■ Aug. 5, Richard T. Marabito, chief financial officer: ■ Aug. 8, Frank C. Sullivan, director: 3,000 shares 2,500 shares ($223,000) 2,000 shares ($49,580) ($99,660) ■ Aug. 2, Andres Gluski, director: 1,130 shares ■ Aug. 5, Michael D. Siegal, chairman of the ■ Aug. 8, John M. Ballbach, director: 1,000 shares ($99,911) board/CEO: 1,500 shares ($37,185) ($36,560) LAUREN RAFFERTY ILLUSTRATION Invacare’s ‘One’ aimed INSIDE Energy companies rush to Getting fit while at the office Ohio’s oil, promise billions at streamlined output More companies are incorporating wellness programs and fitness By CHUCK SODER centers into their facilities as a way Discovery in shale follows area’s natural gas boom [email protected] to keep employees healthy and happy and, in turn, cutting health By DAN SHINGLER Buckeye State over the next 20 A less-than-enthusiastic group of care costs. -
Chesapeake CEO Aubrey Mcclendon Has Borrowed $1.1 Billion Against His Stake in Company Wells, Reuters Has Found
ER BIG STAKES DN AR N G ea REUTERS/S The enerGY BIllIonaIre’S SHROUDED LOANS Chesapeake CEO Aubrey McClendon has borrowed $1.1 billion against his stake in company wells, Reuters has found. BY ANNA DRIVER AND BRIAN GROW SPECIAL REPORT 1 BIG STAKES THE ENERGY BILLIONAIRE’S SHROUDED LOANS APRIL 18, 2012 whose interest will he look out for, his own trial counsel at the Securities and Exchange or Chesapeake’s?” said Joshua Fershee, an Commission (SEC). “That may create a ubrey K. McClendon is one of the associate professor of energy and corporate conflict of interest.” most successful energy entrepre- law at the University of North Dakota. As a result, the loans should have been Aneurs of recent decades. But he The revelation of McClendon’s bout of fully disclosed to Chesapeake shareholders, hasn’t always proved popular with share- borrowing comes as he is scrambling to help the academics, attorneys and analysts said. holders of the company he co-founded, Chesapeake avert a multi-billion-dollar cash NO CONFLICT Chesapeake Energy Corp., the second-larg- shortfall amid a plunge in natural gas prices. est natural gas producer in the United States. It also exposes a potentially serious gap in Both McClendon and Chesapeake say the McClendon, 52, helped cause Chesa- how U.S. regulators scrutinize corporate exec- loans are purely private transactions that peake shares to plummet amid the financial utives, a decade after those rules were tightened the company has no responsibility to dis- crisis when he sold hundreds of millions in the wake of major accounting scandals. -
Innovation Unnoticed: Moving the Needle on Energy Public Relations
2 Perry Street Communications Perry Street Communications Insights Innovation Unnoticed: Moving the Needle on Energy Public Relations 3131 McKinney Avenue, Suite 535 Dallas, TX 75204 214-965-9955 To Our Clients and Friends: From time to time, Perry Street Communications offers commentary and perspective on financial and corporate communication matters. We have traditionally done so in response to current events (proxy battles, the financial crisis, and the Toyota recall, to name a few), but in this instance were inspired to take a broader look at the energy industry which, despite well-funded and spirited public outreach campaigns, cannot shake the vestiges of lingering, often negative, public perception. In this memorandum, Perry Street assesses the state of play for the energy industry in this regard, examines what’s worked and what has not, and provides a roadmap for the future. The findings are not intended to provide definitive answers, but rather to anticipate areas of improvement and provoke thought. We hope you benefit from the research and perspective. Jon Morgan President, Perry Street Communications [email protected] (214) 965-9955 Innovation Unnoticed: Moving the Needle on Energy Public Relations Introduction In the world of our fathers, oil industry executives operated in small but influential circles where personal relationships, often cultivated outside the glare of public view, were the foundation upon which many an empire was built. Those days are long gone, of course, replaced by the often frenetic digital community that has transformed business and political cultures across the globe. With its insistence on transparency, access and immediate accountability, CEOs and world leaders ignore these dynamics at their own peril. -
Sipes-Houston Chapter Newsletter
MARCH 2016 SIPES-HOUSTON CHAPTER NEWSLETTER Aubrey McClendon Oil Price Hits Bottom Why Booms and Busts Happen Prospect Wilcox Formation Origin Tim Rynott $12B War Chest SIPES-Houston Newsletter | Mar 2016 In This Issue Sipes Houston Chapter Letter From The Editor 1 5535 Memorial Drive Jeff Allen Suite F 654 Houston, Texas 77007 February Luncheon 2 Tim Rynott Tel: 713-651-1639 Oil Price Bottoms 3 Fax: 713-951-9659 IEA www.sipeshouston.org email: [email protected] Prospect 4 Chapter Officers 2016 Public Relations Chair Why Booms and Busts Happen 6-7 Jeff Lund Zach Beauchamp Chapter Chair (713) 275-1664 James Mertz [email protected] 8 (281) 205-8140 Aubrey McClendon [email protected] Membership Chair(s) Chip Betz Origin of Wilcox Formation 9 Chair Elect (713) 658-8096 x 17 Russell Hamman [email protected] Dr. Don Van Nieuwenhuise (713) 526-7417 [email protected] Newsletter Chair February Luncheon Review 11 Jeff Allen Past Chair (713) 302-5131 Barry Rava Jay Moffitt [email protected] (713) -750-9485 x 104 News From The Board 12 [email protected] Deal Buyers List Chair Barry Rava Bill Smith Secretary (713) 650-3060 Barry Rava [email protected] Houston Unemployment 12 (713) 621-7282 [email protected] Political Affairs Chair Ross Davis Exxon $12B War Chest 13 Treasurer (713) 658-3131 Aleksandra Gjorgievska David Wood rossda- (281) 549-2376x101 [email protected] [email protected] Season Pass 14 Sponsor Coordinator Website Chair Christine Milliner Danny Matranga (562) 881-6326 Saving Rivals Not The Plan 15 -
Chesapeake Energy Arena
PROJECT PROFILE Chesapeake Energy Arena Designed by Jerrold Stevens of Marsh/PMK Installed by Ford AV Project Details Location Oklahoma City, Oklahoma Category Sports (arena) Project Type 18,200-seat indoor arena Fulcrum Products (32) CS121 21 inch Subcardioid Subwoofers Supporting Products EAW Anya Speaker Modules Lab.gruppen Power Amplifiers The Chesapeake Energy Arena, Oklahoma City’s premier venue for large events and QSC Q-SYS Core DSP entertainment, is primarily known as the home of the NBA’s Oklahoma City Thunder. Renkus-Heinz STX Series Speakers The Arena modernized its sound system prior to the Thunder’s 2016-17 season with the Yamaha CL3 Digital Mixing Console first large scale deployment of Fulcrum’s CS121 passive cardioid subwoofers and the NBA’s first permanent installation of EAW’s Anya adaptive-array system. Designed by Marsh/ PMK’s Jerrold Stevens and installed by Ford AV, the advanced technology audio solution gives the Oklahoma City Thunder a sound to match their name. Challenges “The sound system needed excellent intelligibility, fidelity, output and bandwidth to enhance the overall fan experience and become more competitive with other NBA arenas, ” Stevens explains. Solution “Cardioid was a huge factor in the arena design,” Stevens says. “Vertical subwoofer arrays are ideal for providing smooth coverage to the seating bowl and keeping sound energy off the floor. However, the large centrally located scoreboard precluded any loudspeakers directly over center court. Forced to hang subwoofer arrays around the scoreboard’s perimeter, I knew cardioid patterns were necessary to minimize interference between arrays.” Stevens was familiar with Fulcrum’s passive cardioid line array modules and their ability to eliminate excessive rear low frequency radiation without requiring additional drivers, amplifiers or signal processing channels. -
In the Supreme Court of the United States
No. XX-XX In the Supreme Court of the United States KATHLEEN SEBELIUS, SECRETARY OF HEALTH AND HUMAN SERVICES, ET AL., PETITIONERS v. HOBBY LOBBY STORES, INC., ET AL. ON PETITION FOR A WRIT OF CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE TENTH CIRCUIT PETITION FOR A WRIT OF CERTIORARI DONALD B. VERRILLI, JR. Solicitor General Counsel of Record STUART F. DELERY Assistant Attorney General EDWIN S. KNEEDLER Deputy Solicitor General JOSEPH R. PALMORE Assistant to the Solicitor General MARK B. STERN ALISA B. KLEIN Attorneys Department of Justice Washington, D.C. 20530-0001 [email protected] (202) 514-2217 QUESTION PRESENTED The Religious Freedom Restoration Act of 1993 (RFRA), 42 U.S.C. 2000bb et seq., provides that the government “shall not substantially burden a person’s exercise of religion” unless that burden is the least restrictive means to further a compelling governmen- tal interest. 42 U.S.C. 2000bb-1(a) and (b). The ques- tion presented is whether RFRA allows a for-profit corporation to deny its employees the health coverage of contraceptives to which the employees are other- wise entitled by federal law, based on the religious objections of the corporation’s owners. (I) PARTIES TO THE PROCEEDINGS Petitioners are Kathleen Sebelius, Secretary of Health and Human Services; the Department of Health and Human Services; Thomas E. Perez, Secre- tary of Labor; the Department of Labor; Jacob J. Lew, Secretary of the Treasury; and the Department of the Treasury. Respondents are Hobby Lobby Stores, Inc.; Mardel, Inc.; David Green; Barbara Green; Mart Green; Steve Green; and Darsee Lett. -
Chesapeake Energy Corporation Brian Blaylock
University of Richmond UR Scholarship Repository Robins Case Network Robins School of Business 1-2014 Chesapeake Energy Corporation Brian Blaylock David Earle Danielle Smith Jeffrey S. Harrison University of Richmond, [email protected] Follow this and additional works at: http://scholarship.richmond.edu/robins-case-network Part of the Business Administration, Management, and Operations Commons, Finance and Financial Management Commons, and the Operations and Supply Chain Management Commons Recommended Citation Blaylock, Brian, David Earle, Danielle Smith, and Jeffrey S. Harrison. Chesapeake Energy Corporation. Case Study. University of Richmond: Robins School of Business, 2014. This Case Study is brought to you for free and open access by the Robins School of Business at UR Scholarship Repository. It has been accepted for inclusion in Robins Case Network by an authorized administrator of UR Scholarship Repository. For more information, please contact [email protected]. Chesapeake Energy Corporation January 2014 Written by Brian Blaylock, David Earle, Danielle Smith, and Jeffrey S. Harrison at the Robins School of Business, University of Richmond. Copyright © Jeffrey S. Harrison. This case was written for the purpose of classroom discussion. It is not to be duplicated or cited in any form without the copyright holder’s express permission. For permission to reproduce or cite this case, contact Jeff Harrison at [email protected]. In your message, state your name, affiliation and the intended use of the case. Permission for classroom use will be granted free of charge. Other cases are available at: http://robins.richmond.edu/centers/case-network.html In 2012, Chesapeake Energy Corporation, the second largest producer of natural gas in the United States, found itself at a turning point. -
Two Decades of Investing in OKC OKC's Fastest Growing Companies Honored
October 2013 www.okcchamber.com Two Decades of Investing in OKC Oklahoma City is doing a number of things right in convention in Oklahoma City, former Mayor Ron the eyes of other cities, but the one topic that comes Norick recalled the early days of his time in office and up again and again is the City’s and its citizens’ how the City’s lack of self-investment was putting the consistent decision to invest in itself. Since 1993, the city on a dire path. City of Oklahoma City has invested more than $2 “We had not passed a bond issue in Oklahoma City billion in special projects, roads, public safety and since 1976 and by then it was about 1989. If you more, with another nearly $1 billion already planned go 13 years in your city and don’t pass a bond issue, to take shape over the next 10 years. you’ve got a problem,” said Norick. “Your streets This level of self-investment was not always the are decaying. Your parks are decaying. Everything is natural course of action in Oklahoma City. Recently decaying.” when speaking to a group during the American It was under the leadership of Mayor Norick that Chamber of Commerce Executives’ (ACCE) annual Continued on page 10 OKC’s Fastest Growing Companies Honored Recently, the Greater Oklahoma City Chamber celebrated the fastest-growing, privately-owned companies at the 17th annual Metro 50 Awards. Earning the distinction of Greater Oklahoma City’s fastest-growing company was Tri-State Industrial Group. Established after the oil boom collapse of the 1980s, the company has grown from two people, a toolbox and a list of contacts to one of Oklahoma’s fastest-growing companies. -
Oklahoma Department of Career and Technology Education
Oklahoma Department of Career and Technology Education Information Commons / Research August 2012 Metro Technology Center Economic Overview Report Economic Modeling Specialists, Inc. | www.economicmodeling.com Region Info Name: Metro Technology Center County Areas: Oklahoma, Oklahoma (40109) Metro Technology Center Population (2011) 730,090 Jobs (2011) 539,771 Average Earnings (2011) $50,050 Unemployed (2/2012) 20,672 Completions (2010) 12,388 GRP (2011) $41,386,855,056 Exports (2011) $72,698,600,435 Imports (2011) $45,876,219,885 Economic Modeling Specialists, Inc. | www.economicmodeling.com 1 Metro Technology Center | Population 730,090 5.7% 2011 Population Population Growth for the Last 5 Years 19.2% of State National Growth 4.7% 2011 % of Age Group Population Population Under 5 years 54,150 7.4% 5 to 9 years 50,543 6.9% 10 to 14 years 47,596 6.5% 15 to 19 years 46,300 6.3% 20 to 24 years 56,054 7.7% 25 to 29 years 59,557 8.2% 30 to 34 years 52,937 7.3% 35 to 39 years 45,764 6.3% 40 to 44 years 44,285 6.1% 45 to 49 years 47,333 6.5% 50 to 54 years 50,978 7.0% 55 to 59 years 45,747 6.3% 60 to 64 years 38,971 5.3% 65 to 69 years 27,503 3.8% 70 to 74 years 20,370 2.8% 75 to 79 years 16,659 2.3% 80 to 84 years 13,089 1.8% 85 years and over 12,253 1.7% Economic Modeling Specialists, Inc. -
1309 North Meridian Avenue Oklahoma City, Oklahoma 73107 114 Multifamily Units Proximate to Major Arterials
1309 North Meridian Avenue Oklahoma City, Oklahoma 73107 114 Multifamily Units Proximate to Major Arterials • Convenient drive times to retail, entertainment, and casual dining • Less than ten minutes from Southern Nazarene University and OSU-OKC • Proximate to major arterials with access to chief employers across Oklahoma City OFFER SOLICITATION PROCESS PROPERTY VISITATION Prospective purchasers will have the opportunity to visit Meridian Mansions (Property) via pre-scheduled property tours. These tours CONTACT INFORMATION will include access to a representative sampling of units and access OKLAHOMA CITY OFFICE to common areas and other similar facilities. In order to accommodate 204 North Robinson the Property’s ongoing operations, property visitation will require advance notice and scheduling. Suite 700 Oklahoma City, OK 73102 T 405-602-3040 OFFER SUBMISSION Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of Purchaser’s offers including, but not limited to (1) asset pricing, (2) due diligence Justin Wilson and closing time frame, (3) Earnest Money deposit, (4) a description T 405-605-2546 of the debt / equity structure, and (5) qualifications to close. The [email protected] purchase terms shall require that all cash be paid at closing. Offers should be delivered to the attention of one of the brokers at the email addresses listed. Ted Prince T 405-630-0862 FINANCING [email protected] For parties interested in receiving debt quotes, ARA facilitates