Date Symbol Name Short Volume Long Volume Total Volume Short%
2013-11-07 SD Sandridge Energy Inc. 6167138 4793637 10960775 56%
2013-11-06 SD Sandridge Energy Inc. 13728342 11533475 25261817 54%
2013-11-05 SD Sandridge Energy Inc. 4210444 2004046 6214490 68%
2013-11-04 SD Sandridge Energy Inc. 2118773 2339174 4457947 48%
2013-11-01 SD Sandridge Energy Inc. 3645329 1800920 5446249 67%
2013-10-31 SD Sandridge Energy Inc. 2032781 1355981 3388762 60%
2013-10-30 SD Sandridge Energy Inc. 3243093 1408127 4651220 70%
2013-10-29 SD Sandridge Energy Inc. 1772029 1440685 3212714 55%
2013-10-28 SD Sandridge Energy Inc. 1633716 1574980 3208696 51%
No surprise for any of us, today's pop seemed in order....I pass no judgment other than those of us that are long are in a stock that clearly is in a constant fight between those that doubt and are short and those that are long....I personally liked the way Bennett handled the conference call and I believe he will execute the plan just as he has stated....He is very financially astute and comes across as legit....For those of us who have been here for what seems like forever it has been an ugly ride...I don't think personally we will have to wait years to see something happen here....I just don't believe the big money in this thing will give it that long....Too few hands own a significant amount of SD and they know there is not enough liquidity to sop up their shares without putting more downward pressure on the stock....somethings gotta give.....Have a good weekend longs.....All IMHO....
For those that have to file a form 4 we will know soon....none from yesterday....as we all know there has always been a lot of speculation in this stock from hedge funds both large and small.....guys that own a million shares don't need to report and likely exited when they didn't see what they wanted to see yesterday.....short play has been strong here and we all know it....and it will be until we see sustainable growth in the stock....I like the CEO now, I know financially he is very astute....I believe he actually cares about the employees at SD and the Shareholders....He has done what he said he would do and when he says like he did yesterday that he doesn't believe the market is giving proper value to the cash generation he expects going forward - I believe him.....I will hold for the time being....like most people I am diversified and my other holdings have given me less urgency with SD to sell.....
Space, I couldn't even hazard a guess on this one.....I feel personally like this is some pretty good manipulation that is going on right now.....but time will tell....One thing I thought was odd on the call and presentation that there was really very little commentary about the Gulf assets....When questioned they certainly answered and discussed the potential for a partner to exploit some of their holdings down there but it does make me wonder if something is up.....asset sale? Just seemed odd to me that you devote really no time to the Gulf at all and it's not inconsequential.....everything was about the Miss....Without question we are giving back much of the Cooperman run up.....If he isn't selling and our other large holders aren't selling I cannot imagine they will want to sit on dead money - too much going on in the markets right now to not make money....The lower the share price goes the more I think there will be urgency to monetize their investment.......Time will tell...... All IMHO.....Have a good one Space....
Fellow longs, for the guys on the board you know I am as Wi would put it a "bagholder".....Held the bag for now over 4 years moving to 5....So we listen to the call, we see the results and Mr. Market votes with a broad selloff.....Do we believe the selloff? Do we feel manipulated? Your guess is as good as mine - without question the results in the Woodford were on everyone's mind - the market wanted to know we had Devon like results from our early findings.....Discussion on that topic on the call was muted at best and Lawler certainly is in the underpromise/overdeliver mode....Which personally I like....So we have poor Woodford results - other segments of the play look promising....Kansas from all indications might have more life than any of us suspected....Time will tell....EBITDA growth is very good, cash flows are improving, expense management is clearly in place, and improvements in well costs and production and EUR are apparent.....So Mr. Market why the selloff? You don't sniff a buyout coming? Woodford results don't improve NAV like you thought it might? Or are you just shaking the tree and taking out every weak hand available......Time will tell longs, time will tell....I did buy more when it dipped below $6.00 - maybe an idiot, maybe a genius - time will tell.....Good luck longs - our journey has been tough.....I for one don't think the big boys are going to let their money be dead money here....Just my opinions...
High grade development program
Continue to learn and improve well performance
Uncover new opportunities on 1.8M acres
IP rates are well above type curves
Well costs under 3M
Lease Operating expenses down 22% YTD
Improved ESP placement
New appraisal successes
Miss production grew 1% even with 15% less rigs.
Exiting year with 50K net BOE per day in Miss
Planned reduction in rig count – however as rig count levels off they will continue to raise production.
GOM assets still solid.
Cap X 1.45B for 2014
Reduced G+A by over 25% YTD with new G+A of 144M
2014 Miss production growth of 25%
Declining gas production and improved liquids production.
End year at 600K focus area acres – most of areage has been derisked
Investment community has not appreciated cash flow growth – Miss production costs and well costs have decreased dramatically and have also improved IP rates.
2012 750M adjusted EBITDA, 2013 – proforma EBITDA – 900-950M – 20% growth
2014 midpoint guidance – 1.075B EBITDA
Addresses funding of the business going forward with leverage maintaining same levels today….They are creating 20% real yoy EBITDA Growth
Your point is well taken, and we see this every time the trusts come out - if they are good (which they were in the start) - then does that mean the company in total did well, and if they are not as good does it mean the company in total is bad.....As I wrote in another post on this subject - the trusts don't benefit from all that SD is doing right now - which is unfortunate for those of us who owned the trusts....Items like the Atlas Agreement only effected trust wells that were to be drilled in 2013 - for SDT that doesn't amount to diddly.....ESP's which are now heavily utilized throughout the play are not used in any great amounts for trust wells.....Some of this is understandable as they make these decisions based on the needs of the company as a whole, but again for trust holders it kind of sucks......So to answer your question - I think these trust wells don't get a lot of upside and they might not be an accurate predictor of what the "mothership" does - but they do create doubt and uncertainty and I personally believe that is why the stock is behaving like it is today...multiple downgrades on the trusts cause the casual observer to associate that with the company - and thus I believe we get the downdraft....I know others differ in opinion and that's fine.....I'm long - but I look to this next earnings announcement to tell me how long I'm going to stay.....all IMHO....
You are correct that they planned on using the Atlas agreement on "new" 2013 drilled wells in the trusts, I had called them about that as well...unfortunately for SDT there were not many of those in 2013 so those of us who held positions there did not get much help from that....Any new 2013 wells and beyond for SDR would get some help from Atlas agreement but I sincerely doubt they will do much with ESP's on these trust wells....The benefit of using that technology on their core holdings would be greater and I get that.....just disappointing to trust holders to see the share price of the trust drop much more than the value of the payouts....For those that bought in the 20's and didn't trade around their positions they lost money....very disappointing....We need a movement in natural gas for these trusts to work....but that is taking longer than anyone expected.....
Right with you vcan - I thought about selling the other day when it was $14.50 or so and thought - hummm maybe I should just exit now......I just sold virtually all of my holdings in SDT....had I not traded around that thing I would have taken a bath.....large disappointment if you ask me....Don't see them using this vehicle again to monetize assets - don't think the market is dumb enough for that.....I sincerely hope the trusts are totally disjointed from the company results....I recognize they are a microcosm of the entire play but SDT made up some of the better areas of the play...but I recognize that they aren't putting ESP's on those wells, they aren't executing the Atlas deal with those wells, etc......I remain long, but like ATPG says above the wells that were drilled in the 3rd quarter did not appear to be that stellar......I sincerely hope we are being sandbagged on that front and the stacked pay gives us cause for optimism......If I'm disappointed after this earnings call then I'm done....I will have been in this stock from beginning to end almost 5 years.....that's long enough......Good luck longs....
admittedly I didn't do it with the intensity I did last time because after a month I got a little depressed to be honest - through one month I had total BOE just below the type curve....I did find the Kansas wells on the KSU site and downloaded them on my laptop - what I did see there and this is anecdotal is the decline curves appeared much better than the type curve we have seen in presentations.....I did like that.....My hope is we learn more about that in the upcoming call.....I'm in the same boat as most of the guys here.....I had a great chance to make a lot of money when we got to 13 but I believed we would go much higher.....I was stubborn and kept buying and holding.....I still believe in the company - it's just we lost a lot of time.....The guys that jumped in at 5 a month ago are happy - and I'm happy for them.....I just got in too early and missed out on other investments I really should have made......As an example my holdings in Tesla and Netflix would have made me a very very rich man had I had the SD money in those.....but woulda/coulda/shouda.......that's life....Take care Space - always enjoy your posts as well as Bogwa/Elvis/Rainbow/and even you Dougie.......
I have navigated the Kansas site, it wasn't easy if you are talking about the same one....but I get your point.....Love that I got a thumbs down for asking a question.....I just haven't been following the company much over the past months as I got into some other holdings that have taken care of me......this one has been a disappointment over the years but I feel it will pay off....just taken up a lot of my cash for a long time.......Thanks again - and Elvis thank you for your post as well.....have a good week....
bogwa - as you know I'm long this stock now for going on year 5.....In the second quarter I tracked these wells very closely and it was without doubt the best wells they had drilled to date - on average the BOE was very good and oil content very nice......This quarter the reporting seems to have been very sporadic and the wells overall not nearly the quality of the second quarter......Of course I'm only looking at OK wells but it does give me some concern......Yet I know we have Woodford testing and other payzones that are being proved up......Royalty trusts on the climb, stock on the climb......not sure what to think......I've accumulated more shares in the $5's while I had the chance.....I anxiously await the upcoming 3rd quarter conference call in November........I sincerely hope the multi pay zone commentary is solid.......but again, I don't see anything in the well reports......perhaps some of the board could add some color here.......Thanks in advance....
His comment on SD - we have a very positive view of Sandridge....We think the underlying value is $10.00 - improving trends, management changes and we expect continued improving updates from the company.....short and sweet......good luck longs.....
bogwa - Bennett is solid - I have listened to this presentation twice now and he has been and is very credible....He is no nonsense - he is about the bottom line which is refreshing....I believe the analysts are starting to see what he is doing and will be more aggressive in their assessments of the company. I like the way the stock is behaving today...... It takes a while to heal past wounds so I don't expect the analysts to just turnover tomorrow but I would think if the 3rd quarter call goes well like I think it will - and we have more positive information on Stacked Pay - this stock will start to move more aggressively in a NORTH pattern......Perhaps like 2011 as Space Goat has stated - the key will be meeting and exceeding their projections and the potential of the stacked pay - (which in my opinion is a game changer)....Good luck longs - we have waited patiently.....All IMHO.....