Sandridge Mississippian Trust (SDT)

[MikeBK205]

This pays 2.30 dividend.. Why wouldn't everyone want to get on this ?

[Fireman451]

I like this . Looking to get in

[sanbrunobaby]

how low can this go ? brokerage statement still shows dividend above 20%.

[Pamoo]

Current Div 14%
At .375 an annualized dividend is 14%. I understand falling well production but someone needs to explain to me the rationale of running from a 14% dividend? Or is it just fear for the sake of fear?

[sanbrunobaby]

Over 20% dividend yield, will be pumping oil for another 15 to 20 years, and at a good price on 52 week basis.So we get paid while waiting for any spikes in energy prices. Not a bad gamble

[johnsyn]

AUSTIN, Texas--(BUSINESS WIRE)-- SANDRIDGE MISSISSIPPIAN TRUST I (SDT) today announced a quarterly distribution for the three-month period ended June 30, 2013 (which primarily relates to production attributable to the Trusts interests from March 1, 2013 through May 31, 2013) of $16.9 million, or $0.6112 per Common Unit and $0.5835 per Subordinated Unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before August 29, 2013 to holders of record as of the close of business on August 14, 2013.

[Pamoo]

Why the downgrade?

Isn't that already reflected in the reduction of the stock price over the last 6 mo? From over $20 to about $13.50. Has the production dropped 35% in that time? If it hasn't, can someone explain to me Oppenheimer’s rational for this down grade or am I just suppose to except the headline and assume that the analyst got it correct? Current dividend of .59 is annualized at 17%. The same analyst’s have much better ratings for Trusts with half the dividend rate. So, why has this stock been downgraded? It would appear that the TRUST is being punished for SD corporate situation. When in reality there is a hugh disconnect between that and the committed production from a certain group of wells that make up the trusts revenue.

[johnsyn]

SandRidge Mississippian Trust I Announces Quarterly Distribution
Thu April 25, 2013 4:15 PM

AUSTIN, Texas--(BUSINESS WIRE)-- SANDRIDGE MISSISSIPPIAN TRUST I (SDT) today announced a quarterly distribution for the three-month period ended March 31, 2013 (which primarily relates to production attributable to the Trusts interests from December 1, 2012 through February 28, 2013) of $15.9 million, or $0.5904 per Common Unit and $0.5015 per Subordinated Unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before May 30, 2013 to holders of record as of the close of business on May 15, 2013.

During the three-month production period ended February 28, 2013, total sales volumes were higher than initial Trust estimates. This was due to higher natural gas volumes but was partially offset by lower oil production during the period. Although the gas production came in higher than projected, the additional production was offset by lower realized gas prices than initial estimates. The combination of lower oil production and lower realized gas prices resulted in quarterly income available for distribution of $0.5682 per unit, which is $0.0222 below the subordination threshold. As a result, the distribution per common unit is the subordination threshold of $0.5904 for the period.

The Trust owns royalty interests created from interests held by SandRidge Energy, Inc. (SandRidge) and its subsidiaries in oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant, Major and Woods counties in Oklahoma and is entitled to receive proceeds from the sale of production attributable to the royalty interests. As described in the Trusts filings with the Securities and Exchange Commission (the SEC), the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil and natural gas prices and the amount and timing of the Trusts administrative expenses, among other factors. Although there is no assurance of any minimum distribution in any quarterly period, during the subordination period (as described in the Trusts filings), holders of Common Units will be entitled to receive an amount up to the Subordination Threshold (which varies from quarter to quarter) prior to any distribution being made for that quarter in respect of the Subordinated Units, all of which are held by SandRidge. If the amount available for distribution in any quarterly period is sufficient to distribute an amount equal to the Subordination Threshold to the holders of all units (including the Subordinated Units), any additional balance is distributed to holders of all units pro rata, up to the amount of the Incentive Threshold for the quarter. Trust units are entitled to receive 50% of any cash available for distribution in excess of the Incentive Threshold for the quarter. The Trusts quarterly income available for distribution to all Trust units was $0.5682 per unit, which was below the Subordination Threshold for the Common Units of $0.5904 per unit for the quarter. As a result, the distribution to the Subordinated Units was decreased to $0.5015 per unit in order to permit a distribution per Common Unit equal to the Subordination Threshold for the quarter.

[johnsyn]

1:36 PM Energy trusts (SDT, PER, SDR) all take hits after announcing dividend and production cuts last night (I, II, III), and Raymond James does not pass "Go," downgrading the group to Hold from Buy. These new trusts are misunderstood, says one trader long the names. The wells are still getting drilled and there's going to be volatility in production volumes. They're cheap by any metric and - unlike MLPs - they're debt-free, having no need to issue debt (or shares) to replace depleting assets

[johnsyn]

His estimate of having had expected 30% more oil production is probably overblown, when oil prices were barely $80/barrel. I'd cut production too and wait it out for prices to recover. Price Target was cut only by $2 and still is $22, which doesn't take into account oil price fluctuations. If the price tumbled because of investors not happy about the divie declared, the damage will be done quickly. If you look at mREITs, declarations of divie cuts always gets beaten hard at the announcement and a couple days after, but then they end up coming back.
Price targets don't necessarily go the direction the stock actually goes, investors are fickle.
Anyway, it is in bargain territory. The company may come out with a statement which could counter the "couple days" of downward movement from investors selling, and shorters who both believe the stock would have dropped from the announcement.
The trust won't go bellyup, those are set for 10 year's worth of oil.

[johnsyn]

http://www.jagsreport.com/2013/02/sandridge-mississippian-trust-ii-rating-lowered-to-underperform-at-raymond-james-sdr/

and more on that: http://finance.yahoo.com/news/sandridge-mississippian-trust-units-tumble-180638045.html.

[johnsyn]

ex-div date is Feb 12, they'll cut the pps by $.65 then, and you can see by the info, it's down almost 50% from it's 52-week high, dividend is about 14% which is great for an oil trust, pipelines run about 5-6%. Now let's look next at why the 50% drop as to whether just oversold or something else...

http://www.dividend.com/dividend-stocks/financial/diversified-investments/sdt-sandridge-mississippian-trust/

[johnsyn]

they haven't just paid, oil prices are about to go past $100 which will up the earnings for next financial. Give me a few minutes to look at ex-div dates, etc.

[mypenneys]

Is this a good investment or will it keep going down every time it pays a dividen out. I currently hold 100 shares was thinking about buying another 100 but am afraid this trust will go belly up can someone help me out here on what to consider or watch out for.

[johnsyn]

SandRidge Mississippian Trust I Announces Distribution of $0.683076 Per Unit
Thu November 1, 2012 4:15 PM | about: SDT

NEWS PROVIDED BY:
Business Wire

AUSTIN, Texas--(BUSINESS WIRE)-- SANDRIDGE MISSISSIPPIAN TRUST I (SDT) today announced a quarterly distribution for the three-month period ended September 30, 2012 (which primarily relates to production attributable to the Trusts interests from June 1, 2012 through August 31, 2012) of $19.1 million, or $0.683076 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before November 29, 2012 to holders of record as of the close of business on November 14, 2012.

During the three-month production period ended August 31, 2012, total sales volumes increased 10% over the previous three-month period. This increased volume was due to higher natural gas production, offset by slightly lower oil production. The additional production was offset by lower realized prices. The realized price, including the impact of hedges, for natural gas was 24% lower compared to the previous period and for oil was 3% lower than the previous period. These lower realized prices more than offset the higher total production and resulted in distributable income available to unitholders that was approximately 7% less than the target.

The Trust owns royalty interests created from interests held by SandRidge Energy, Inc. (SandRidge) and its subsidiaries in oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant, Major and Woods counties in Oklahoma and is entitled to receive proceeds from the sale of production attributable to the royalty interests. As described in the Trusts filings with the Securities and Exchange Commission (the SEC), the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil and natural gas prices and the amount and timing of the Trusts administrative expenses, among other factors. Although there is no assurance of any minimum distribution in any quarterly period, during the subordination period (as described in the Trusts filings), holders of Common Units will be entitled to receive an amount up to the Subordination Threshold (which varies from quarter to quarter) prior to any distribution being made for that quarter in respect of the Subordinated Units, all of which are held by SandRidge. If the amount available for distribution in any quarterly period is sufficient to distribute an amount equal to the Subordination Threshold to the holders of all units (including the Subordinated Units), any additional balance is distributed to holders of all units pro rata, up to the amount of the Incentive Threshold for the quarter. Trust units are entitled to receive 50% of any cash available for distribution in excess of the Incentive Threshold for the quarter. The announced distribution exceeded the Subordination Threshold, but not the Incentive Threshold, for the quarter.

Volumes, price and distributable income available to unitholders for the period were (dollars in thousands, except per unit):

Sales Volumes
Oil (MBbl) (1) 154
Gas (MMcf) 1,567
Combined (MBoe) 415
Average Price
Oil (per Bbl) (1) $ 83.66
Gas (per Mcf) $ 2.98
Average Price - including impact of derivative settlements and post-production expenses
Oil (per Bbl) (1) $ 95.46
Gas (per Mcf) $ 3.13
Revenues
Royalty income $ 17,539
Derivative settlements 2,908
Expenses 1,321

Distributable income available to unitholders $ 19,126

Distributable income per unit (28,000,000 units issued and outstanding) $ 0.683076
(1) Includes natural gas liquids.

In addition to wells that were producing at the effective date of the assignment of the royalty interests to the Trust, SandRidge, pursuant to a development agreement with the Trust, is obligated to drill, or cause to be drilled, the equivalent of 123 development wells, determined by reference to SandRidges net revenue interest in a well and the perforated length of the well, in an area of mutual interest by December 31, 2015.

During the three-month production period ended August 31, 2012, an average of five drilling rigs were utilized to drill development wells for the Trust. Currently, three rigs are drilling Trust development wells, and the present plan is to average three rigs during the three-month production period ending November 30, 2012. To date, equivalent development wells producing, or drilled and perforated for completion, during production periods upon which distributions are based are as follows:
As of

Equivalent Producing
Development Wells


Additional Drilled
Development Wells*


Total Development
Wells
5/31/2011 16.4 3.3 19.7
8/31/2011 36.5 1.2 37.7
11/30/2011 48.5 0.4 48.9
2/29/2012 60.6 1.1 61.7
5/31/2012 72.5 0.7 73.2
8/31/2012 88.7 0.0 88.7

*Equivalent development wells that are not producing at the As of date but have been drilled and perforated for completion.

Pursuant to IRC Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to foreign partners should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to foreign partners should be made at 30% of gross income unless the rate is reduced by treaty. This is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) by SandRidge Mississippian Trust I, and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. Nominees and brokers should withhold 35% of the distribution made to foreign partners.

This press release contains statements that are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are forward-looking statements for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unit holders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from SandRidge with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither SandRidge nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Common Units issued by SandRidge Mississippian Trust I is subject to the risks described in the Trusts Annual Report on Form 10-K for the year ended December 31, 2011, and all of its other filings with the SEC. The Trusts quarterly and other filed reports are or will be available over the Internet at the SECs web site at http://www.sec.gov.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20121101006579r1&sid=acqr4&distro=nx

SandRidge Mississippian Trust I
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell, 1-512-236-6531

Source: Sandridge Mississippian Trust I
Copyright Business Wire 2012

[johnsyn]

notice the author's disclaimer that he is SHORT:
http://seekingalpha.com/article/923441-the-sandridge-mississippian-trust-i-declining-distributions-will-lead-to-negative-returns?

[johnsyn]

11:56 AM SandRidge Mississippian Trust I (SDT -4.2%) trades lower after parent company SandRidge (SD) disclosed a large sale in an SEC filing out just before the open of 668K shares at $22.98 each. The timing of the filing suggests the trade occurred before market hours in a private transaction.

[johnsyn]

Mississippi lime play sprawls northward into Nebraska

HOUSTON, Aug. 1
08/01/2012
By OGJ editors

Horizontal wells in the US Midcontinent Mississippi lime oil play aren’t as productive as those in the Williston basin Bakken, but shallower depths and cheaper drilling costs are driving increased interest in the Mississippi lime, said IHS Inc.

The land play has expanded to more than 17 million acres in northern Oklahoma, western Kansas, and southern Nebraska, said Paul O’Donnell, author of the IHS Herold Mississippian Oil Play Regional Play Assessment.

“The Mississippian’s highly variable drilling results to-date, combined with increasing entry costs, might deter new entrants, but recent drilling reports suggest results could improve as knowledge of the play and technical adjustments increase.

“This is a shallow carbonate play, with depths ranging from 3,000 ft to 6,000 ft, and since it’s shallower than other US unconventional plays, operators can employ less expensive, lower horsepower rigs to drill it.”

The reservoir averages 300-500 ft thick with the Woodford shale as its source rock (OGJ Online, Aug. 29, 2011). Using rigs of about 1,000 hp, drilling costs are estimated at $2.9-3.5 million/well, compared with $8-11 million in the Bakken.

IHS said SandRidge Energy has an early mover advantage and is most leveraged to the Mississippian, as measured by acreage in the play per million dollars of company enterprise value. SandRidge is driving the play’s development and recently reported completion at 2,200 b/d of oil equivalent well as the first 30-day average that could make Alfalfa County, Okla., one of the best spots in the play.

Coincidentally, Devon Energy Corp. said Wednesday that it has increased its exposure to 545,000 net acres in the emerging Mississippi lime light-oil resource play in Oklahoma.

O’Donnell said, the Mississippi lime “will be a good ancillary asset for most companies, rather than a ‘company-changer.’”

[johnsyn]

SandRidge Mississippian Trust I Announces Distribution of $0.727696 Per Unit

SANDRIDGE MISSISSIPPIAN TRUST I (NYSE: SDT) today announced a quarterly distribution for the three-month period ended June 30, 2012 (which primarily relates to production attributable to the Trust’s interests from March 1, 2012 through May 31, 2012) of $20.4 million, or $0.727696 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before August 29, 2012 to holders of record as of the close of business on August 14, 2012.

[johnsyn]

http://seekingalpha.com/news-article/3636341-sandridge-mississippian-trust-i-announces-distribution-of-0-727696-per-unit?source=email_portfolio&ifp=0

[johnsyn]

SandRidge Mississippian Trust I Announces Distribution of $0.79 Per Unit
Sandridge Mississippian Trust I Common Units of Beneficial Interest (NYSE:SDT)
Today : Monday 30 April 2012
SANDRIDGE MISSISSIPPIAN TRUST I (NYSE: SDT) today announced a quarterly distribution for the three-month period ended March 31, 2012 (which primarily relates to production attributable to the Trust’s interests from December 1, 2011 through February 29, 2012) of $22.0 million, or $0.787033 per unit. Quarterly cash available for distribution on all units exceeded 120% of the target distribution (the “Incentive Threshold”), resulting in a distribution equal to the Incentive Threshold plus 50% of the amount by which cash available for distribution exceeded the Incentive Threshold. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before May 30, 2012 to holders of record as of the close of business on May 15, 2012. The Trust owns royalty interests created from interests held by SandRidge Energy, Inc. (“SandRidge”) and its subsidiaries in oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant, Major and Woods counties in Oklahoma and is entitled to receive proceeds from the sale of production attributable to the royalty interests. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil and natural gas prices and the amount and timing of the Trust’s administrative expenses, among other factors. Although there is no assurance of any minimum distribution in any quarterly period, during the subordination period (as described in the Trust’s filings), holders of Common Units will be entitled to receive an amount up to the “Subordination Threshold” (which varies from quarter to quarter) prior to any distribution being made for that quarter in respect of the Subordinated Units, all of which are held by SandRidge. If the amount available for distribution in any quarterly period is sufficient to distribute an amount equal to the Subordination Threshold to the holders of all units (including the Subordinated Units), any additional balance is distributed to holders of all units pro rata, up to the amount of the Incentive Threshold for the quarter. SandRidge, as holder of the Subordinated Units, is entitled to receive the remaining 50% of any excess cash available for distribution. For the period from December 1, 2011 through February 29, 2012, cash available for distribution prior to the incentive calculation exceeded the Incentive Threshold by $0.004084 per unit, or approximately $114,000, resulting in an incentive distribution of $0.002042 per unit and a total distribution per unit of $0.787033.
Volumes, price and distributable income available to unitholders for the payment period were (dollars in thousands, except per unit):
Sales Volumes
Oil (MBbl) (1) 170
Gas (MMcf) 1,462
Combined (MBoe) 413
Average Price
Oil (per Bbl) (1) $ 95.86
Gas (per Mcf) $ 3.32
Average Price - including impact of derivative settlements and post-production expenses
Oil (per Bbl) (1) $ 98.32
Gas (per Mcf) $ 4.04
Revenues
Royalty income $ 21,124
Derivative settlements 2,260
Expenses 1,290

Income available for distribution prior to incentive calculation 22,094
Less: Incentive distribution to SandRidge 57

Distributable income available to unitholders $ 22,037

Distributable income per unit (28,000,000 units issued and outstanding) $ 0.787033
(1) Includes natural gas liquids.

In addition to the initial producing wells, SandRidge, pursuant to a development agreement with the Trust, is obligated to drill, or cause to be drilled, the equivalent of 123 development wells, determined by reference to SandRidge’s net revenue interest in a well and the perforated length of the well, in an area of mutual interest by December 31, 2014. In the event of delays, SandRidge will have until December 31, 2015 to fulfill its drilling obligation.
To date, equivalent development wells producing, or drilled and perforated for completion, during production periods upon which distributions are based are as follows:
As of Equivalent Producing

Development Wells
Additional Drilled

Development Wells*
Total Development

Wells

5/31/2011 16.4 3.3 19.7
8/31/2011 36.5 1.2 37.7
11/30/2011 48.5 0.4 48.9
2/29/2012 60.6 1.1 61.7

*Equivalent development wells that are not producing at the ‘As of’ date but have been drilled and perforated for completion
SandRidge Energy, Inc., the sponsor of SandRidge Mississippian Trust I announced that it will host a conference call on May 11, 2012 at 8:00 am CDT. The telephone number to access the conference call from within the U.S. is 866-713-8310 and from outside the U.S. is 617-597-5308. The participant code for the call is 36691408. The call may also be accessed via the internet at http://www.media-server.com/m/p/4d86954y. An audio replay of the call will be available from May 11, 2012 until 11:59 pm CDT on May 18, 2012. The number to access the conference call replay from within the U.S. is 888-286-8010 and from outside the U.S. is [phone]. The participant code for the replay is 12071065.
Pursuant to IRC Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to foreign partners should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to foreign partners should be made at 30% of gross income unless the rate is reduced by treaty. This release is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) by SandRidge Mississippian Trust I, and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. Nominees and brokers should withhold 35% of the distribution made to foreign partners.
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unit holders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from SandRidge with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither SandRidge nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Common Units issued by SandRidge Mississippian Trust I is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2011, and all of its other filings with the SEC. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s web site at http://www.sec.gov.

[Penny Roger$]

~ Friday! $SDT ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $SDT ~ Earnings expected on Friday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=SDT&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=SDT&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=SDT
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=SDT#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=SDT+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=SDT
Finviz: http://finviz.com/quote.ashx?t=SDT
~ BusyStock: http://busystock.com/i.php?s=SDT&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=SDT >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

[johnsyn]

SandRidge Mississippian Trust I Announces Distribution of $0.79 Per Unit
Sandridge Mississippian Trust I Common Units of Beneficial Interest (NYSE:SDT)
Today : Thursday 2 February 2012
SANDRIDGE MISSISSIPPIAN TRUST I (NYSE: SDT) today announced a quarterly distribution for the three month period ended December 31, 2011 (which primarily relates to production attributable to the Trust’s interests from September 1, 2011 through November 30, 2011) of $22.1 million, or $0.790905 per unit. Quarterly cash available for distribution on all units exceeded 120% of the target distribution (the “Incentive Threshold”), resulting in a distribution equal to the Incentive Threshold plus 50% of the amount by which cash available for distribution exceeded the Incentive Threshold. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before February 29, 2012 to holders of record as of the close of business on February 14, 2012. The Trust was formed by SandRidge Energy, Inc. (“SandRidge”) in December 2010 to own royalty interests in oil and natural gas properties owned by SandRidge in the Mississippian formation in Alfalfa, Garfield, Grant, Major and Woods counties in Oklahoma and is entitled to receive proceeds from the sale of production attributable to the royalty interests. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil and natural gas prices and the amount and timing of the Trust’s administrative expenses, among other factors. Although there is no assurance of any minimum distribution in any quarterly period, during the subordination period (as described in the Trust’s filings), holders of Common Units will be entitled to receive an amount up to the “Subordination Threshold” (which varies from quarter to quarter) prior to any distribution being made for that quarter in respect of the Subordinated Units, all of which are held by SandRidge. If the amount available for distribution in any quarterly period is sufficient to distribute an amount equal to the Subordination Threshold to the holders of all units (including the Subordinated Units), any additional balance is distributed to holders of all units, up to the amount of the Incentive Threshold for the quarter. Common units are entitled to receive 50% of any cash available for distribution in excess of the Incentive Threshold for the quarter, which for the period from September 1, 2011 through November 30, 2011 was approximately $0.9 million or $0.030822 per unit.

Volumes, price and distributable income available to unitholders for the payment period were (dollars in thousands, except per unit):


Sales Volumes
Oil (MBbl) 185
Gas (MMcf) 1,568
Combined (MBoe) 446
Average Price
Oil (per Bbl) $ 84.75
Gas (per Mcf) $ 4.06
Average Price - including impact of derivative settlements
and post-production expenses
Oil (per Bbl) $ 93.71
Gas (per Mcf) $ 4.07
Revenues
Royalty income $ 22,005
Derivative settlements 2,574
Expenses 1,571
Income available for distribution prior to incentive calculation 23,008
Less: Incentive distribution to SandRidge 863
Distributable income available to unitholders $ 22,145
Distributable income per unit (28,000,000 units issued and outstanding) $ 0.790905


In addition to the initial producing wells, SandRidge, pursuant to a development agreement with the Trust, is obligated to drill, or cause to be drilled, the equivalent of 123 development wells, determined by reference to SandRidge’s net revenue interest in a well and the perforated length of the well, in an area of mutual interest by December 31, 2014. In the event of delays, SandRidge will have until December 31, 2015 to fulfill its drilling obligation.

To date, equivalent development wells drilled and perforated for completion during production periods upon which distributions are based are as follows:

As of Equivalent Producing

Development Wells
Additional Drilled

Development Wells*
Total Development

Wells

5/31/2011 16.4 3.3 19.7
8/31/2011 36.5 1.2 37.7
11/30/2011 48.5 0.4 48.9

*Equivalent development wells that are not producing at the ‘As of’ date but have been drilled and perforated for completion

SandRidge Energy, Inc., the sponsor of SandRidge Mississippian Trust I announced that it will host a conference call on February 17, 2012 at 8:00 am CST. The telephone number to access the conference call from within the U.S. is 800-798-2864 and from outside the U.S. is 617-614-6206. The participant code for the call is 68779473. The call may also be accessed via the internet at http://www.media-server.com/m/p/3w279h2s. An audio replay of the call will be available from February 17, 2012 until 11:59 pm CST on February 24, 2012. The number to access the conference call replay from within the U.S. is 888-286-8010 and from outside the U.S. is [phone]. The participant code for the replay is 51792672.

Pursuant to IRC Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to foreign partners should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to foreign partners should be made at 30% of gross income unless the rate is reduced by treaty. This release is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) by SandRidge Mississippian Trust I, and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. Nominees and brokers should withhold 35% of the distribution made to foreign partners.

This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unit holders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from SandRidge with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither SandRidge nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Trust Units issued by SandRidge Mississippian Trust I is subject to the risks described in the Trust’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, and all of its other filings with the SEC. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s web site at http://www.sec.gov.

[johnsyn]

Pavillion draft report did not condemn fracing, EPA official says
The US Environmental Protection Agency’s draft report of its investigation of possible groundwater contamination from natural gas exploration and production near Pavillion, Wyo., never implied that hydraulic fracturing was unsafe, an EPA official told a House subcommittee on Feb. 1.

OIL & GAS JOURNAL

Wonder how many on the House subcommittee are liberals and won't listen anyway.

[bigone]

Thanks Rooster2. I am undecided between SDT, SD, and soon SDR. Need to have things unfold more for my small brain to formulate the plan.

[Rooster2]

SDT has treated me very well thus far. I understand most of production is hedged so falling prices near term will not reduce earnings much. I plan to purchase SDR when available and if prospectus looks good. The common is a great buy sometime, but is quite volatile as seen today, down 4.5%. Good things are happening with Sandridge !!

[johnsyn]

You got that right!

[trade2much]

SDT is VG and the parent has contracted to drill 123 additional wells between 2010 and 2015 so this should grow value and dividend

[bigone]

Anyone know if there is any advantage to buying SDT instead of the new trust SDR? Or, is there more potential in the common SD?

[bigone]

Thanks for the other info, also.

[bigone]

Good suggestion. I will look into it. Thank you.

[johnsyn]

Plan on adding not just SDT, but some Sandridge Mississippian, itself (SD), has almost 50% higher target price, then probably dump it and throw it into SDT where the divie is.

[johnsyn]

Nice divie, running better than 15%. Have it in spouse's IRA, plan to add it to mine, and then start adding into the joint trade account.

[bigone]

This looks really interesting. My wife has a small Roth IRA that could use a shot of "SDT"on a pull back.

[johnsyn]

A Stake in Dozens of Oil Wells... and a Double-Digit Yield

SandRidge Mississippian Trust (NYSE: SDT) has only one mission -- take in royalties and pay them out to investors.

As a royalty trust, SDT owns a stake in dozens of wells run by its parent company, SandRidge Energy (NYSE: SD). SandRidge Energy takes care of the drilling, production, marketing, and selling of the oil and gas produced (production is split roughly 50/50 between oil and gas). The royalty trust -- SDT -- is passive in the relationship. It doesn't have to do a thing. In return for the initial investment when it went public, its investors get a cut of all the oil and natural gas sold from the wells.

For the Mississippian Trust, SandRidge Energy packaged a 90% interest in 37 of its oil and natural gas wells in Oklahoma. In other words, for every dollar in oil or gas pumped by these more than three dozen wells, owners of the royalty trust are now entitled to 90 cents in royalties.

But that's just the start...

That's because in addition to the 37 wells it owned at its inception, the trust also gets a bonus. Between its inception in December 2010 and December 2015, parent company SandRidge must drill an additional 123 wells, of which SDT will own a 50% stake.

In other words, over the next several years each unit of this trust will have a stake in an increasing number of wells. And there is a powerful incentive in place for the parent company to get those wells drilled... and increase distributions... sooner rather than later.

As is common practice, SandRidge Energy retained ownership of over 10 million of the 28 million outstanding units of SDT. But most of those (7 million units) are subordinated shares. Unlike the shares we're investing in, those subordinated shares don't receive dividends unless regular common unitholders get a predetermined minimum payment each quarter. If the distribution falls below that threshold, the payments to the subordinated shares will be reduced to make up the difference to the regular units.
That means these shares have a built-in buffer to ensure we see strong distributions going forward.

In the latest quarter, SDT paid a distribution of $0.82 per unit, giving a forward yield of 11.1% at today's price.

Shares of SDT have run-up in the past few weeks, but I think the high yield still makes the shares attractive at these levels. But if you're a more conservative investor, waiting for a pullback before buying isn't a bad idea.

CARLA PASTERNAK'S DIVIDEND OPPORTUNITIES

[trade2much]

Chit I still have SDT but recently sold ITT made 11% on it didn't like how it was topped or seemed to be.

[ChitForBrains]

Nice day for you, SDT up and your other one too (assuming you held through the short drop to 4.8+, since you trade too much).

[trade2much]

C4B there is a lot of noise going on currently about shale, so it is not nearly as surprising as it might sound. Shale, as you likely know, is just an economic question, when oil is high then NG (US) and Shale (US) and Oil sands (mostly Canada)come into play.

Canada is called the Saudi Arabia of oil sands
USA is called the Saudi Arabia of NG, Shale and Coal

Hard to figure why our dumbarze Govn't exports nearly 1 Trillion a year to the Middle East? Wow, I say screw that!!!!!!!!!!!!

[ChitForBrains]

As a shoot the breeze... There are supposed to be Hedge funds that bought stakes in shale plays like Eagle Ford.... which I'm clueless with. Then I also ran across a bank that is big in oil production (I think) http://ih.advfn.com/p.php?pid=squote&symbol=BNS strange, aye?

[trade2much]

C4Bs thanks much for DEER I bought a little @5.18 now I will just follow the charts. The A/D and OBV look very nice and some money is starting to flow back from the looks of the CFM.






I found that if I don't look them up on FINVIZ /other resources and get a small amount when I think of it I tend to forget about them, now it is on my Schwab SSP so I should keep aware of it a lot more. Huge upside but it may take a bit of time, got a pretty good div though while I wait. lol

Thanks for the tip it is a stock I very seldom look at.

[ChitForBrains]

For you? Something like DEER pays a dividend and is over sold, claims no wrongdoing. http://investorshub.advfn.com/boards/board.aspx?board_id=17868

Or one of the many other oversold oil companies that have a dividend.

[trade2much]

C4B - SDT seems like a nice income earner.
ITT I got some at 17.75 yesterday a.m. just looking at a bounce and a very nice gap to fill. Even though gaps fill 90% of the time it can take up to 3 years+ so I am not sure I will wait quite that long. lol Should be a good swing trade anyway.

Market is very strange lately. I did a swing on FAZ for 7% but the 3x ETFs make me rather nervous if I don't day trade them.


Got anything that you like that is at a good entry?

[ChitForBrains]

Don't forget its a growth stock too, lots of future drilling by SD for SDT.

ITT, clueless, other than they were expecting a combined value of $60 and it was $55 midday.

[trade2much]

According to the SEC filing the latest div was for 5 months, not 6mos or 2 qtrs, that is a 16.6% > although that is not a huge difference on a prorated basis it still matters some. At 27 a share the trust currently yields about 9.5% until expiration in 2030. Hard to say what it will do but if it pays out steady many will likely buy it just for income so imho it shouldn't dip much below the 25 it is based; unless a major event occurs.

In short, imho currently it is a good div hold but best around the entry 25 area.

Chit it will be interesting to see it play out.
I just bought some ITT this morning at 17.75 based on the Rev forecast and recent spinoffs. Huge gap and hopefully today was a tad over done, got any thoughts on it?

[ChitForBrains]

Make some quick money off the stock price after the first dividend, since it will include two quarters some will snatch it up without finding out why such a big return.