Sandridge asset sale

[wsucougz]

Pending sale of 20,820 acres in the piceance basin:

Meagher Oil & Gas Properties, Inc.

Supposedly prior sales in the area have netted around $50k/acre. Do the math and you'll see that's big money, which may partially explain why the stock is up ~50% since Feb. 1 and ~10% in the last couple of days.

They are a $6 billion dollar company now.

[metro]

What does this have to do with anything? Especially metro area talk?

[wsucougz]

You're kidding, right?

[OU Adonis]

What does this have to do with anything? Especially metro area talk?

Considering they are one of the fastest growing Metro companies?

[wsucougz]

I'm not pumping the stock, if that's what you're thinking. I don't even own it.

If you're excited about downtown, it goes without saying that you should be interested in companies like Sandridge - particulary Sandridge, in my mind, as they are homegrown, just went public a few months ago, moving into the Kerr Mcgee tower, etc. When I see that their market cap went up by 2 billion dollars since February, and that potentially around a billion dollars in cash could be coming through the door, I think about that in terms of how much of a positive effect it will have on the city.

It is also worth noting that Tom Ward's stake in the company alone is now worth around $1.5 billion.

Cut me some slack, Jack.

[jbrown84]

That was a bizarre response from metro.

[metro]

That was a bizarre response from metro.

Yeah sorry, as OKCMallen stated, I was just shocked that this sort of a post was made. No one really posts stock info on this website, let alone this forum. Usually if it is discussed it would be in the Business Exchange, most people reading things in this forum don't care about pending sale of acres, etc.

No harm intended.

[OKCMallen]

There are better forums for this thread, I think is what he means...?

[jbrown84]

It's not about stock, it's about a big sale for Sandridge that contributes to their growth.

[shane453]

It's about a little company that might soon become one of the largest companies in downtown OKC. A major real estate player. It's certainly pertinent.

[windowphobe]

Maybe it was in the wrong forum, or maybe it wasn't. Regardless, I think it was worth mentioning.

[okctvnewsguy]

Do you think they still tell people coming to meetings... We're in the Kerr McGee building?

[soonerfan21]

I have already heard people downtown refer to the tower as the "SandRidge Tower" and the signage in the Underground does the same. It seems like it has been an easy transition.