SandRidge Energy History
SandRidge Energy Company History Timeline
In April 2012, the company acquired Dynamic Offshore Resources, LLC for $680 million in cash and approximately 74 million shares of stock.
On June 19, 2013, citing "a need for new leadership", CEO Tom L. Ward was ousted by the board of the directors and James Bennett became President and CEO.
In 2014, the company sold its assets in the Gulf of Mexico for $750 million.
In November 2015, the company acquired 136,000 net acres in the Niobrara Formation of Colorado, after acquiring the assets of EE3, LLC, for $190 million in cash.
On January 6, 2016, the NYSE delisted the company.
On January 21, 2016, the company settled a dispute with Occidental Petroleum over a 30-year carbon dioxide gas treatment agreement.
On May 16, 2016, the company filed for bankruptcy, citing a high debt load and low commodity prices.
On November 15, 2017, the company announced it would buy rival Bonanza Creek for $746 million; however, on December 28, 2017, the company terminated the agreement, since investors, led by Carl Icahn, protested the acquisition.
The company also announced that CFO Julian Bott would leave after the firm's 2017 annual report is filed.
In February 2018, Midstates Petroleum offered to acquire Sandridge, which was rejected by the board.
On February 26, 2018, the company announced 80 layoffs in Oklahoma City.
On In June 2019, the company announced layoffs of 10% of its staff.
In December 2019, John P. Suter replaced McKinney as president and chief executive officer.
In February 2020, the company announced plans to lay off more than half of its workforce in Oklahoma City.
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| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| Denbury Resources | 1951 | $1.5B | 657 | 12 |
| Devon Energy | 1971 | $19.2B | 1,400 | 20 |
| Chesapeake Energy | 1989 | $11.7B | 1,300 | 24 |
| The Williams Companies | 1908 | $11.0B | 5,425 | 212 |
| Continental Resources | 1967 | $9.5B | 1,201 | 91 |
| Oasis Petroleum | 2007 | $1.1B | 432 | - |
| Geokinetics | 1980 | $43.1M | 4,000 | - |
| Enterprise Products Partners | 1968 | $58.2B | 7,000 | 129 |
| Octagon 88 Resources | - | - | - | - |
| Dynegy | 1984 | $44.2M | 2,489 | - |
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