SandRidge Energy, Inc. (fka SDOCQ)

[Porgie Tirebiter]

Not in 2015. If I was on the short end of SD's hedges (i.e. committed to take delivery at $80 something per barrel) I would probably just buy the contract, decline delivery and kiss my money good-bye. So in that respect SD has a positive cash flow for now just from the hedges and it's the hedges that are taking the punishment... So far anyway. But that's coming to an end. And crude is not going up any time soon. In fact, it's probably not anywhere near the bottom.

http://www.upi.com/Business_News/Energy-Resources/2015/08/13/BPs-Whiting-refinery-handicapped-for-several-weeks/4731439461249/

BP has no incentive at all whatsoever to keep the refineries up and running. (And none of the big vertically integrated oil companies do either, for that matter.) They've got the cash reserves to wait it out for years if that's what it takes to starve out the small shale producers, go in and pick the assets out of bankruptcy for pennies on the dollar, and be back in charge of limiting production for their own benefit.