SandRidge Energy poses problems for TPG-Axon, Reuters reports

theflyonthewall.com

While the hedge fund TPG-Axon Capital won about 50% of the seats on SandRidge Energy's board, it still faces an uphill battle to reverse the oil and gas company's slumping stock price, reports Reuters. SandRidge shares have fallen 20% this year to around $5 on disappointing forecasts for its wells in Oklahoma and Kansas, as well as investor uncertainty over its strategic direction.

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