| Type | Public |
|---|---|
| Industry | Petroleum |
| Founded | 1984 |
| Headquarters | Oklahoma City, Oklahoma, USA |
| Key people | Tom L. Ward, CEO |
| Products | Oil and Natural Gas |
| Revenue | $931.74 million USD (01/10-12/10) |
| Employees | 2,205 |
| Website | SandRidgeEnergy.com |
SandRidge Energy (NYSE: SD) is an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.
SandRidge was founded in 1984 as Riata Energy, Inc.[1] In 2006, the company changed its name to SandRidge Energy.[2] The company concentrates its exploration efforts in the West Texas Permian Basin and Mid-Continent region of Northern Oklahoma and Southern Kansas.[3] The company owns and operates drilling rigs under the brand name Lariat Services, Inc.[4]
The company made its initial public offering on November 5, 2007, offering over 28 million common stocks at roughly $26.00 US a share.[5] SandRidge is traded on the New York Stock Exchange under the symbol SD.
The chief executive officer and chairman of SandRidge is Tom L. Ward. Ward previously co-founded Chesapeake Energy and was the chief operating officer of that company from 1989 until 1996. Sandridge is also a minority owner of the Oklahoma City Thunder NBA franchise. Ward joined the company in June 2006 when he purchased a significant interest in the company, becoming the CEO and chairman.[6]
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In May 2011, SandRidge formed a royalty trust called Sandridge Permian Trust (NYSE: PER), consisting of oil and gas wells, existing and yet to be developed, in Andrews County, Texas. At the IPO it sold 34,500,000 units for a net of approximately $580.6 million.[7]
The company is headquartered in downtown Oklahoma City.
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