SandRidge Energy, Inc. (fka SDOCQ)

[56Chevy]

Debtors in a Chapter 11 bankruptcy have a right known as "exclusivity". What that exclusive right means is the Debtor is the only entity involved in the case who can present a Plan of Reorganization (POR). A period of exclusivity last for 120 days beginning the day the company files bankruptcy.

The Debtor can ask the court for that period of exclusivity to be extended for another 120 days and they can keep asking for up to 18 months.

I have never seen a bankruptcy wherein the debtor didn't ask for an extension...SandRidge is no exception. Asking for an extension of exclusivity is common as mud. I wouldn't read too much into that request.

Management gave the reasons why they asked for the time extension in the court doc. It would be a good idea to reread that doc.

Keep in mind just because the Debtor asked for the extension of time doesn't mean they'll use it or need it. The court didn't require more time...nor was the Judge the one who said the case needed more time.

This case remains on the fast track regardless of exclusivity extensions or lawsuits filed.