SandRidge Energy will leave fate of all shareholders in the hands of Honorable Judge David R. Jones. Chief United States Bankruptcy Judge - Southern District of Texas, to decide the fate of many loyal and hard working individual shareholders if they will lose everything they have and allow SandRidge to extinguish the shares. https://cases.primeclerk.com/sandridge/ As a shareholder, I feel that the SandRidge Energy management and leadership simply gave up on their daily duties many months ago in working daily for the shareholders. Those who trusted in their leadership and believed in the company and its direction. As a investor who has placed trust in this company with my hard earned money I am simply appalled to find that based on the recent announcement of their Ch 11 filing, my investment in SandRidge and the shares I own will be worth nothing if they have their way in the " pre- arranged" plan.
The interesting thing is, this company has disclosed to have over $7 billion in assets with around $ 4 billion in debt including significant cash from recent credit line drawn. How on earth could this be approved with oil showing recovery signs and leaving the shareholders with nothing? I feel management gave up many months ago on their daily duties to work diligently for all investors as they chose a pre arranged chapter 11 plan rather than informing and updating both preferred and common shareholders. This simply means our investment was not given daily focus and attention by management to operate the company.
Hard working American family, who believed in the new age development of oil and gas production and invested into my Roth IRA, will lose it all. After being a raving fan of Sandridge and believing in companies such as this one who aims to produce Oil and Gas in the United States, rather than us having to rely on other countries to feed us our energy needs, I chose to invest into Sandridge Energy as a common shareholder. We, the shareholders, are the ones who truly had the backs of Sandridge Energy's management team and their company at heart. We believed in what they were doing and were in a sense, their most loyal raving fans and supporters.
SandRidge also listed $7 billion in assets and $4 billion in debt on its Chapter 11 bankruptcy petition, filed in the U.S. Bankruptcy Court for the Southern District of Texas. With the amount of assets and cash on hand to the remaining debt, I simply cannot believe a Judge would rule in favor of a BK for them with this kind of remaining asset value and leave the commons sharefolders with nothing.
I and my family who work so hard to simply make ends meet and hopefully secure a little savings in retirement so that we cannot be a burder to the tax payers will simply be another victim.
Now, my fate lies in the eyes and ears of a Judge who will decide whether Sandridge Energy can protect the large investors and relinquish the many loyal and dedicated common shareholders leaving with them with nothing.
Oklahoma City-based oil and gas firm SandRidge Energy filed for Chapter 11 bankruptcy protection Monday, May 16th, after securing support for its debt-cutting plan from many of its creditors. From sources noted in many pulbications, SandRidge said it had reached a deal with many of its major creditors for a pre-arranged restructuring plan that would involve converting about $3.7 billion of debt into equity.
SandRidge Energy, Inc. Reviews
SandRidge Energy will leave fate of all shareholders in the hands of Honorable Judge David R. Jones. Chief United States Bankruptcy Judge - Southern District of Texas, to decide the fate of many loyal and hard working individual shareholders if they will lose everything they have and allow SandRidge to extinguish the shares. https://cases.primeclerk.com/sandridge/ As a shareholder, I feel that the SandRidge Energy management and leadership simply gave up on their daily duties many months ago in working daily for the shareholders. Those who trusted in their leadership and believed in the company and its direction. As a investor who has placed trust in this company with my hard earned money I am simply appalled to find that based on the recent announcement of their Ch 11 filing, my investment in SandRidge and the shares I own will be worth nothing if they have their way in the " pre- arranged" plan.
The interesting thing is, this company has disclosed to have over $7 billion in assets with around $ 4 billion in debt including significant cash from recent credit line drawn. How on earth could this be approved with oil showing recovery signs and leaving the shareholders with nothing? I feel management gave up many months ago on their daily duties to work diligently for all investors as they chose a pre arranged chapter 11 plan rather than informing and updating both preferred and common shareholders. This simply means our investment was not given daily focus and attention by management to operate the company.
Hard working American family, who believed in the new age development of oil and gas production and invested into my Roth IRA, will lose it all. After being a raving fan of Sandridge and believing in companies such as this one who aims to produce Oil and Gas in the United States, rather than us having to rely on other countries to feed us our energy needs, I chose to invest into Sandridge Energy as a common shareholder. We, the shareholders, are the ones who truly had the backs of Sandridge Energy's management team and their company at heart. We believed in what they were doing and were in a sense, their most loyal raving fans and supporters.
SandRidge also listed $7 billion in assets and $4 billion in debt on its Chapter 11 bankruptcy petition, filed in the U.S. Bankruptcy Court for the Southern District of Texas. With the amount of assets and cash on hand to the remaining debt, I simply cannot believe a Judge would rule in favor of a BK for them with this kind of remaining asset value and leave the commons sharefolders with nothing.
I and my family who work so hard to simply make ends meet and hopefully secure a little savings in retirement so that we cannot be a burder to the tax payers will simply be another victim.
Now, my fate lies in the eyes and ears of a Judge who will decide whether Sandridge Energy can protect the large investors and relinquish the many loyal and dedicated common shareholders leaving with them with nothing.
Oklahoma City-based oil and gas firm SandRidge Energy filed for Chapter 11 bankruptcy protection Monday, May 16th, after securing support for its debt-cutting plan from many of its creditors. From sources noted in many pulbications, SandRidge said it had reached a deal with many of its major creditors for a pre-arranged restructuring plan that would involve converting about $3.7 billion of debt into equity.