Perhaps you were speaking on a "go-forward" basis, but $800 million of purchasing falls into the "substantial" category for me: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjQ5NTd8Q2hpbGRJRD0 tMXxUeXBlPTM=&t=1

To me 800 million isn't substantial in energy, i tmight be substantial for sandridge, but Exxon just paid 41 billion for XTO...that is substantial, I'd say anything in excess of 5B is substantial for the industry...800M for Sandridge is substantial for them, sorry for any confusion.

Perhaps you were speaking on a "go-forward" basis, but $800 million of purchasing falls into the "substantial" category for me: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjQ5NTd8Q2hpbGRJRD0 tMXxUeXBlPTM=&t=1

This might have been what I saw in the news.

If $5 billion is the threshold for the majors, then close to $1 billion isn't bad for SandRidge which is not that old of a company after all..and they've only been in OKC for 2 years. Remember, Riata Energy? The founders are already making large charitable donations in this state, too.

This might have been what I saw in the news.

If $5 billion is the threshold for the majors, then close to $1 billion isn't bad for SandRidge which is not that old of a company after all..and they've only been in OKC for 2 years. Remember, Riata Energy? The founders are already making large charitable donations in this state, too.

5 billion is an arbitrary number that I consider substantial, you guys are free to consider something else substantial but 800 million is a drop in the bucket in this industry. When you consider the net worth of the industry (just US companies) is in excess of 1 trillion dollars...800 million doesn't mean a lot to me. But that doesn't mean it is necessarily insignificant and for a company of sandridge size and frankly their current debt levels, I'd say 800 million is substantial for them.

word up, this is an opinion piece. (plus, i don't know how much i'd trust a stock broker with the last name of 'dollarhide'! lol!)
---
Is Devon for Sale?
December 21st, 2009

Yes, Devon (NYSE: DVN) is for sale. It may not be on public record and the 50-story high rise under construction in downtown Oklahoma City may suggest otherwise, but from all accounts it seems that Devon is for sale.

Last Monday’s groundbreaking announcement that global energy giant Exxon (NYSE: XOM) was buying Fort Worth, Texas-based XTO Energy (NYSE: XTO) for its vast natural gas resources and shale exploration and exploration prowess has turned the industry on its head and created a firestorm of speculation about which U.S. natural gas entity will be next in line to be taken out.

According to a thestreet.com poll today, Chesapeake Energy (NYSE: CHK) was far and away the No. 1 target for a takeover, the survey respondents said. Approximately 46% of survey takers said Chesapeake will be the next major energy sector M&A play (while 16% suggested that Devon which came in second would be the most attractive candidate).

So, despite the public’s overwhelming opinion that Chesapeake is next in line to be gobbled up by a global energy giant (which I too believe will happen as well…..but can you really imagine Mr. Aubrey McClendon taking orders from someone else?), I believe that Devon has done more work in the last 30 days to prepare itself to be the perfect marriage partner when it announced last month that it divested its entire Gulf of Mexico and international oil and gas portfolio in order to sharpen its focus on the 5 core North American shale plays.

So, only time will tell which energy giant will be the suitor….BP (NYSE: BP), Chevron (NYSE: CVX), or Shell…..who knows, but only time will tell?

(Jake Dollarhide nor Longbow Asset Management owns shares of DVN, XOM, XTO, CHK, BP, or CVX but does manage shares of common stock of all the above companies for client portfolios under management.)


Is Devon for Sale? (http://blogs.journalrecord.com/themarkets/2009/12/21/is-devon-for-sale/)

Doesn't really provide any specifics.

"But from all accounts, it seems that Devon is for sale." What accounts?

And ALL public companies are "for sale." He just seems to be stating the obvious. Let's hope so anyway. At least until the tower is built. It'd suck for them to just complete the garage and that's it. Talk about a mind fvck! lol.

Hmm.

Food for thought, and maybe I'm just grasping here:

This Jake Dollarhide guy is from Tulsa, and we all know how Tulsans.... (Makes a point of pointing out the new tower will be taller then Tulsa's tallest.) He cites the low price of natural gas being a motivator, but prices are rising due to the East Coast blizzard.

Also, did a search, and the only thing I can find is the sale of Devon's offshore/international holdings last month.

I bet Steve would know something. Come on Steve, spill the beans.

Jake Dollarhide is a very sharp guy, and though he lives in Tulsa, he doesn't have the Tulsa attitude about OKC.

However, he could be very wrong about this. Hope he is.

His site looks very professional - didn't mean to demean him.

Maybe the anti-trust laws could prevent these giant mergers? This is what you get when you elect politicians with a laissez-faire attitude towards corporations. Obummer included.

If it's in the Journal Record it's going to be pretty solid. All he is doing is pointing out the obvious fact that companies by companies out. How could you NOT trust a financial planner whose name is Jake Dollarhide? I mean come on..

Here's where Jake got his info:

Devon may be takeover target in oil mergers-Barron's

NEW YORK, Dec 20 (Reuters) - Devon Energy Corp. (DVN.N) could emerge as a takeover candidate following Exxon Mobil Corp's (XOM.N) $31 billion bid for XTO Energy (XTO.N), according to Barron's.

The financial weekly, in its Dec. 21 edition, said that deal may have set "a road map for the next takeover targets," and named Devon, EnCana (ECA.TO), Range Resources (RRC.N), and Quicksilver Resources (KWK.N) among the exploration and production companies to watch.

The article cites IHS Herold analyst Andrew Byrne as saying Devon is extremely undervalued since "it trades at 16 percent below its enterprise value (market value plus net debt)." And Byrne believes Quicksilver is trading 29 percent below its enterprise value.

Shares of Devon closed at $69.56, up 1.25 percent, in Friday trade on the New York Stock Exchange. (Reporting by Paul Thomasch; editing by Carol Bishopric)



Definately a real possibility. However, price has rebounded to $71.09 Tuesday from a low March 9th of $38.84 per share. It's less attractive then it was and less attractive then other energy companies mentioned in the article. Check out google finance.

That's funny. EnCana is also currently building an even more impressive HQ skyscraper, designed by Sir Norman Foster, in downtown Calgary.

http://www.matthewssouthwest.com/corporate/images/encana1_sm.gif

Food for thought, and maybe I'm just grasping here:

This Jake Dollarhide guy is from Tulsa, and we all know how Tulsans.... (Makes a point of pointing out the new tower will be taller then Tulsa's tallest.) He cites the low price of natural gas being a motivator, but prices are rising due to the East Coast blizzard.

Also, did a search, and the only thing I can find is the sale of Devon's offshore/international holdings last month.

I bet Steve would know something. Come on Steve, spill the beans.

This article is a bit ridiculous...Devon being publicly technically is always for sale. In addition the guy put himself in a no lose situation, he gets to root for the state if Devon doesn't get bought and he didn't say they would, just that they were for sale, so if they dont sale no one gives his article a second thought. If they do get sold he looks like he was out ahead of the curve...Devon has always been a rumored takeover/buyout target...

They do not have plans of being bought, though anything is possible...They have a great organization its very well managed. They dumped their GOM assets for a reason, they do not want to spend the capital on getting those projects to market, its pretty cut and dry.

Sure Devon could get bought, but i dont think this guy is some prophet...he's not.

One stockbroker in Tulsa certainly doesn't mean something is fact. Watch CNBC or look at their web site and you will see one analyst with an opinion 100% the opposite of the next one. Devon would have to be on someone's list of possibilities as would Chesapeake, but usually those companies have to be somewhat willing to be sold. Nichols and McClendon both have generational family histories in their companies so that would be a huge hurdle to overcome.

If it's in the Journal Record it's going to be pretty solid. All he is doing is pointing out the obvious fact that companies by companies out. How could you NOT trust a financial planner whose name is Jake Dollarhide? I mean come on..

:LolLolLol
Then again when you have a televangelist with the last name of Dollar don't be surprised...

ALWAYS look into possible self-serving when financial analysts speak. When you do this long enough, you learn to weed out the ones who routinely have an interest in something taking place. There is always a possibility a huge oil & gas company could go after DVN or CHK on a hostile takeover basis, however, since the 1980's and the days of junk bond leveraged buyouts, Michael Milkin, T Boone Pickens (the younger version) and Kholberg, Kravis, Roberts (KKR), hostile takeovers are less frequent. They generally look for more willing partners.

There are still some folks like Carl Icahn out there who infiltrate the board of directors with his own people and either take over the company or force a sale. Lets hope he keeps his paws out of another of our companies the way he did Six Flags.

That's funny. EnCana is also currently building an even more impressive HQ skyscraper, designed by Sir Norman Foster, in downtown Calgary.

http://www.matthewssouthwest.com/corporate/images/encana1_sm.gif

You may prefer the design of this building but it's supposed to be 774 feet high so it's not more impressive in height.

You may prefer the design of this building but it's supposed to be 774 feet high so it's not more impressive in height.Wow! That certainly is a stunning design! Now that is thinking outside the box. lol.

exxon-mobil is based right south of the red river in a tidy little town called Irving, Texas.

Wow! That certainly is a stunning design! Now that is thinking outside the box. lol.

I'm not sure exactly what you mean but I find the design of both buildings to be exciting although neither are ground breaking or outside of the box.