You would be 50 bucks a share!
1 reply
It is interesting how oil and gas accounting has morphed. Water disposal was always an expense associated with producing oil and gas. Now produced water gathering lines and disposal wells are considered assets. Sandridge does not even include water disposal as an expense on individual well economics. When you consider the JV partners cash and development contributions, Royalty Trust spin-offs for cash, common and preferred stock issues (free cash), and massive debt issues - more cash, and they are going broke. Even an idiot should be able to figure out the quality of their drilling programs. Future episodes for American Greed.