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SandRidge Energy, Inc. Message Board

  • wsucougz wsucougz Feb 28, 2012 9:09 PM Flag

    BNP Paribas analyst

    What an embarrassment on the quarterly call. I'm not sure who's worse, her or "destroying shareholder value" guy. Now she's getting quoted in the Bloomberg article about her skepticism of the mississippian and concerns about a "significant funding gap."

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    • Shorts are too scared so they are looking for anybody who can help them and trying to shake the tree to take off loose hands. Don't give up at least 10 in few weeks.

    • Ward has been dumping 3rd rate okie land and buying quality gom assets. That my friend is a game changer! THINK SGY!
      SD is less risky today than before the DOR deal was announced. I expect to see more deals after DOR closes.

    • I think the article is good, im siding with this guy, and say we open above 9 tomorrow.

      The strategy has “scared away some plain vanilla institutions,” said Grubert, who considers SandRidge the most under-recognized company among independent exploration and production companies. “I see this thing as really emerging as a home run over the next year or so.”

    • bob_carlson_retail_broker bob_carlson_retail_broker Feb 28, 2012 9:20 PM Flag

      I think you are referring to me sir, Bob Carlson, retail broker and Anne "the Shrimp" Cameron. I'd like to discuss her gap, but first let's talk about her amazing performance during the recent earnings call. Maybe cavematt_grubb will reply as well.

      Operator

      Your final question in queue is from the line of Anne Cameron with BNP Paribas.

      Anne Cameron - BNP Paribas, Research Division

      A question about your rig count. So you're adding a rig a month, that gets you to a max rig count of, I think, it was 45 rigs?

      Matthew K. Grubb

      Yes, 313.

      Anne Cameron - BNP Paribas, Research Division

      Okay. and so how many -- like that's gross of the Royalty Trust rigs?

      Matthew K. Grubb

      That is.

      Anne Cameron - BNP Paribas, Research Division

      Okay. So if you do another Royalty Trust, like what's the sort of max amount of rigs you could have committed to drilling PUDs on the Royalty Trust acres?

      Tom L. Ward

      Well, we can't talk about the second Royalty Trust, what we can talk about in the first Royalty Trust is that we had basically 3 rigs running on the SDT.

      Anne Cameron - BNP Paribas, Research Division

      Okay. And the max rig count of 45 rigs was the same max rig count before you added the extra million acres in the new Mississippian?

      Tom L. Ward

      Yes.

      Anne Cameron - BNP Paribas, Research Division

      Okay . So how is it that you can double your position and still run the same number of rigs without, I don't get, say, like impairing the present value of the acreage?

      Tom L. Ward

      Without impairing -- so your -- without impairing the present value of the acreage.

      Anne Cameron - BNP Paribas, Research Division

      Well, it's going to take you longer to get that acreage [ph].

      Tom L. Ward

      Well, it's how come we sold 500,000 acres, and I don't think it impaired our present value on it.

      Anne Cameron - BNP Paribas, Research Division

      Okay. But these are gross rigs or net rigs?

      Tom L. Ward

      They are gross rigs.

      Anne Cameron - BNP Paribas, Research Division

      Okay. So isn't -- aren't the same number of rigs going to be running on your acreage overall as before those transactions?

      Matthew K. Grubb

      We're looking at drilling kind of 7,000 wells out here over the next 12 years. That's how the NAV of this acreage is figured out. So if you're looking at 45 rigs, you're kind of drilling 500 wells a year. So I mean, there's really no movement in the PV. I mean, if you look at 500 wells a year, you're looking at kind of potentially holding 300,000 acres or something like that a year times 5. You have your 4.5 million acres held. And that's just Oklahoma. In Kansas, you can hold about 1,240 acres per well. So I think the way we have it designed is 2 ways, one is to maximize our present value to realize NAV and at the same time holding all our acreage.

    • She is dirty....

 
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