SandRidge Energy Comments on Letter from Carl Icahn
January 09, 2018 at 04:15 pm EST
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On January 9, 2018, SandRidge Energy, Inc. commented on the open letter that was received from Carl Icahn. The Company stated that the Board of Directors and management team value constructive shareholder dialogue and are engaged in ongoing discussions with shareholders, including Icahn. In this regard, the Company's independent board members are scheduled to meet with several major shareholders, including Icahn. In addition, the Company stated that as it has already confirmed in writing to Icahn on 2 separate occasions, both publicly in its Form 8-K filed on December 11, 2017 and privately in a letter to his counsel dated December 12, 2017, the short-term rights plan does not prevent shareholders from speaking with each other as long as they do not form a group and comply with federal securities laws.
SandRidge Energy, Inc. is an independent oil and gas company engaged in the development, acquisition and production of oil and gas assets. The Companyâs primary area of operations is the Mid-Continent region in Oklahoma and Kansas. Its primary operations are the production, development, and acquisition of hydrocarbon resources. The Company holds interests in about 1,453 gross (849 net) producing wells, approximately 958 of which it operates, and 548,895 gross (364,201 net) total acres under lease. Its productive wells consist of wells that are producing hydrocarbons. The Company sells its oil, natural gas, and natural gas liquids (NGLs) to a variety of customers, including oil and natural gas companies and trading and energy marketing companies. The Companyâs subsidiaries include SandRidge Exploration and Production, LLC, SandRidge Holdings, Inc., SandRidge Midstream, Inc., SandRidge Operating Company, and SandRidge Realty, LLC.
SANDRIDGE ENERGY, INC. 
