Dallas, Texas 10/29/2013 (Financialstrend) – SandRridge Energy Inc. (NYSE:SD) has seen rise in shares by nearly 24% since August. The company will announce third quarter results on November 5, 2013. As per current expectations, the company is expected to exceed analysts’ estimates. This will also be the first quarter presentation in the post-Tom Ward situation.
SandRidge, one of the under-valued oil and Natural Gas Company has seen tremendous growth in the past few years, thanks to some new explorations in the Oklahoma region. The company operates in the Mississippi Lime region. The company has built its assets around this region and is poised to excel higher operational efficiency as well. The company expects to show excellent production results and cost saving practices as well.
The company has now developed higher prowess in extraction of Oil and Natural gas. However, the core areas of operation will remain in the Mississippi region. As the region extends between Kansas and Oklahoma, exploration and extraction are said to increase in these region.
Following the recommendation Leon Cooperman placed on its stocks on CNBC. In the second week of October, SandRidge shares saw and increase peaking at $6 on Tuesday, October 15, 2013.
The company also announced a change in management leadership that will lead to better management of the company. Analysts believe that the acreage the company currently uses for production will soon show realize at least 50% higher prices than its present earnings.
Currently the company has 1.9 million acre in the Mississippi Lime region. It also has around 22 rigs running and over 900 horizontal wells. SandRidge considers six of counties – Grant, Barber, Woods, Harper and AlfaAlfa – as areas that are good for development considering the other counties it the region that are already producing high output of natural gas and oil. The number of wells exclusive toe this area are 166 wells and SandRidge has found several good indicators.