Mon, 12/14/2020 - 04:00 PM
SandRidge Energy holds about 93,000 net acres targeting multiple Niobrara benches within the North Park Basin in Colorado’s Jackson County, according to the company website. (Source: SandRidge Energy Inc.; Shutterstock.com)
SandRidge Energy Inc. agreed to the multimillion-dollar sale of its North Park Basin asset, which completes the Oklahoma City-based independent’s transformation into a pure-play Midcontinent E&P company as it looks to boost shareholder value.
According to company filings, SandRidge entered into a definitive agreement with Denver-based Gondola Resources LLC for the sale of its North Park Basin assets for $47 million in cash. The purchase and salesagreement was executed on Dec. 11 and the transaction is expected to close first-quarter 2021.
the natural gas storage report from the EIA for the week ending December 4th indicated that the quantity of natural gas held in underground storage in the US decreased by 91 billion cubic feet to 3,848 billion cubic feet by the end of the week, which left our gas supplies 309 billion cubic feet, or 8.7% higher than the 3,539 billion cubic feet that were in storage on December 4th of last year, and 260 billion cubic feet, or 7.2% above the five-year average of 3,588 billion cubic feet of natural gas that have been in storage as of the 4th of December in recent years..the 91 billion cubic feet that were drawn out of US natural gas storage this week was higher than the average forecast from an S&P Global Platts survey of analysts who expected a 78 billion cubic foot withdrawal, and was also much higher than the average withdrawal of 61 billion cubic feet of natural gas that are typically pulled out of natural gas storage during the same week over the past 5 years, and the 57 billion cub
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Should I Buy SandRidge Energy Inc. (SD)?
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors’ consensus returns have been exceptional. In the following paragraphs, we find out what the billionaire investors and hedge funds think of SandRidge Energy Inc. (NYSE:SD).
Should we buy SandRidge Energy Inc. (SD)? Money managers were in an optimistic mood. The number of long hedge fund positions rose by 1 in recent months. SandRidge Energy Inc. (NYSE:SD) was in 14 hedge funds’ portfolios at the end of the third quarter of 2020. The all time high for this statistic is 23. Our calculations also showed that SD isn’t among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video for a quick look at the top 5 stocks). There were 13 hedge funds in our