InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,485.21
(
0.22%
)
US TECH 100
19,401.80
(
0.00%
)
Dow Jones
38,824.04
(
0.12%
)
Brent Oil
84.76
(
1.03%
)
Bitcoin
64,110.81
(
-3.58%
)
Post# of 13692
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

Porgie Tirebiter

Send PM Follow Ignore
Followers 101
Posts 15340
Boards Moderated 3
Alias Born 12/06/2008

Porgie Tirebiter

Member Level

Re: knowbs4u post# 11735

Saturday, 08/06/2016 1:51:32 PM

Saturday, August 06, 2016 1:51:32 PM

Post# of 13692
Even though Tom Ward and his family essentially "looted" SandRidge after it went public, it was all above board and obvious to shareholders if they just looked. Unlike the others you mention, Ward was not cooking the books. I really don't believe any laws were broken.

By the time Ward was forced out SandRidge could not survive with oil below $115 to $120 for any length of time as SD's debt service matched their cash flow with oil at those levels. When oil went under $100 their price hedging saved them for awhile but when the bounce in oil didn't come, BK became inevitable.

Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up