Not trying to start an argument either, but what does your statement have to do with Sandridge Energy "common stock" being traded @ near all time lows, during the beginning of a bear market?
While it is true that oil has been in a downtrend and at or near 12 year lows, and OPEC is refusing to reduce production in fear that it will lose market share, as well as Iran coming back online within the next 10 days, flooding the world markets with an additional 2 million barrels per day on top of the 10-11 million barrels per day the Saudis are already producing.... , little of this is weighing on SandRidge Energy. This company's downfall has been due to the overburdening level of debt in relation to its capital reserves on hand, coupled with the fact that the state of Oklahoma is asking it to shut down a certain number of its facilities. I could go on and on with the problems this company is facing, merely from an internal operational/ infrastructure/financial standpoint, but it would be a moot point.
The price of West Texas Intermediate or Brent crude oil could spike 10% higher tomorrow and we would be lucky if Sandridge energy stock went up a single cent.
What this company needs to do is reassure its common shareholders by way of some type of press release stating that they are settling with the state of Oklahoma or have obtained financing to get them through this difficult financial period.
