This news was out early enough that you would think there would have been more volume and a bigger price drop ?
After Hours Volume:
After Hours High:
After Hours Low:
140,474 $ 1.63
(18:43:00 PM) $ 1.53
The more I go over this the more I feel it to be a ruse .Short term the stock will take a hit that's a given .The DOJ is looking for bigger fish in the oil fields .Remember O bummer hates fossil fuels .Those in the fields are donors to the other side from the right .
This has been added also
The Oklahoma City, Oklahoma-based company said the transactions subject to the government's inquiry date from 2012 and prior years, according to the filing with the U.S. Securities and Exchange Commission.
"We are taking the matter very seriously and continue to work with the DOJ in the course of the investigation, Jeff Wilson, a vice president of government and public affairs at SandRidge, said.
SandRidge was told on April 7 by the U.S. Department of Justice that it is a target of an Oklahoma grand jury, the filing said.
SandRidge former chief executive officer Tom Ward was ousted by the company's board in January 2013 after the company's biggest investors alleged governance lapses and strategic missteps.
Aubrey McClendon, who co-founded Chesapeake Energy with Ward in 1989, is also under investigation by the DOJ for potential violations related to leasing oil and gas properties, according to a regulatory filing last month from a McClendon-affiliated firm.
McClendon, now CEO of American Energy Partners, did not immediately respond to emailed questions. Ward did not respond to a telephone message requesting comment.
Chesapeake previously disclosed it is cooperating with a probe into possible antitrust violations. It is not clear if the investigations are related. A DOJ spokesperson declined to comment.
"Chesapeake has been cooperating for some time with a criminal antitrust investigation by the Department of Justice regarding past land-lease practices by prior management," Chesapeake spokesman Gordon Pennoyer said. "The company does not expect to be a target of the investigation or prosecution."
The DOJ said in 2012 it was investigating potential antitrust violations related to oil and gas land leasing. Among the companies subject to the probe were Chesapeake and Canada's Encana Corp..
The two had been involved in land leasing in Michigan in 2010, and Reuters reported they had communicated with each other on ways to suppress land
The second proposal was the approval of an amendment to the Company's A&R Certificate of Incorporation to effect, at the sole discretion of the Company's board of directors, a one-for-five reverse stock split (the "Reverse Stock Split"). The votes on the proposal were:
Proposal 2 Votes For Votes Against Abstentions
Approval of amendment to A&R
Certificate of Incorporation for
Reverse Stock Split 317,393,181 57,784,480 3,920,841
Form 8-K for HALCON RESOURCES CORP
Change in Directors or Principal Officers, Amendments to Articles of Inc. o
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
At the annual meeting of stockholders of Halc�n Resources Corporation (the "Company") held on May 6, 2015, discussed further in Item 5.07 below, the Company's stockholders approved an amendment to the Halc�n Resources Corporation First Amended and Restated 2012 Long-Term Incentive Plan (the "2012 Plan") to increase the number of shares of the Company's common stock authorized to be issued under the 2012 Plan by 40.0 million shares, to a total of 81.5 million shares. A copy of Amendment No. 2 to the 2012 Plan effecting the increase under the 2012 Plan is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
A description of the 2012 Plan is included in the Company's 2015 annual proxy statement filed with the U.S. Securities and Exchange Commission on April 2, 2015 under the heading "Proposal 3 - Approval of Amendment to Our First Amended and Restated 2012 Long-Term Incentive Plan" and is incorporated herein by reference.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in
Also at the annual meeting of stockholders of the Company held on May 6, 2015, the Company's stockholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation to amend Article Fifth to declassify the Company's board of directors and provide for the annual election of directors (the "Declassification Amendment"). The Company's prior certificate of incorporation provided that the board of directors be divided into three classes, with members of each serving a three-year term of office. The Declassification Amendment was included in an amended and restated Certificate of Incorporation (the "A&
This #$%$ my plans .Oh well .Might end up being just ruse ? When did management know this information and why didn't they let the public in on it ? Ill wait on the side lines and see how this plays out ?
HOUSTON, May 7 (Reuters) - SandRidge Energy Inc is the target of federal grand jury probe concerning violations of antitrust law related to the buying and leasing of oil and gas properties, the company said in a regulatory filing on Thursday.
The Oklahoma company said the transactions that are subject to the government's inquiry date from 2012 and prior years, according to the filing with the U.S. Securities and Exchange Commission.
SandRidge said it is continuing to respond to the government's requests in connection with the investigation.
(Reporting by Anna Driver; Editing by Terry Wade
Headline news section .
Insight from TheStreet's Research Team:
SandRidge Energy is a part of David Peltier's Stocks Under $10 Portfolio. Here is what Dave had to say about the stock in a recent alert:
SandRidge Energy (SD:NYSE) shares were trading about 5% lower at midday, after management announced mixed first-quarter results late Thursday. This Alert is an update on the company, and we're not recommending any trades for the model portfolio.
SandRidge had break-even net income in the quarter, which was a penny ahead of expectations. On the other hand, revenue fell by 51% from a year ago, to $215.3 million, and short of consensus analyst estimates.
Core production increased by 36% in the period, even though management continues to cut costs. SandRidge reduced its rig count by 80% in the quarter and will reduce quarterly capital spending to $100 million by the fourth quarter. The company has also hedged the remainder of its expected production for 2015 and has sufficient near-term liquidity, with no debt maturities coming due until the end of the decade.
We maintain our Two rating on the stock, which recently changed hands around $1.70. We believe that SandRidge can trade back up through $2 in the coming months.
David Peltier & TheStreet Research Team
I thought volume would have been much higher than 6.350 mil @ 11.00am.A lot of S/L tripped .Short term it looks $1.59 is some support building ? But who really knows with all the shares shorted ? BTW anyone have the split of Gas/Oil with SD tia