SandRidge Energy Inc (NYSE:SD)’s focus is in the area of the Mississippian, Chesapeake Energy Corporation (NYSE:CHK)
SandRidge Energy Inc (NYSE:SD) is engaged in exploration natural gas and oil company. It’s primarily focus is the area of the Mississippian formation which is a shallow hydrocarbon system in the Mid-Continent area. The Company also has its operations that are complementary to its primary development and production activities.
The company has recently announced the appointment of Eddie LeBlanc as the Executive Vice President and Chief Financial Officer to the company. Mr. LeBlanc has succeeded James Bennett who has now been hired as the company’s Chief Executive Officer and President.
Eddie’s appointment as the CFO to the company is effective from July 8, 2013. James D. Bennett has pleasingly said that Eddie has a very strong background in the fields of Finance and Accounting. He also added saying that with his 20 years of experience in serving at senior financial positions in the energy industry; Eddie will serve as a great value addition to the company’s senior management team. The company is expecting his focuses on the area relating to capital discipline, the company’s spending levels and to efficiently execute the earlier announced strategies which will create wealth for the shareholders.
The CEO of the company remarked that the company is moving ahead and has a potential to be in its bullish zone. He informed that the company’s debt levels have been reduced from $4 billion to $1.9 billion in the first quarter of the year. He also said that the company is committed to get the most of its holdings in the oil rich Mississippian formation which generates a very good return for the company.
Chesapeake Energy Corporation (NYSE:CHK) is engaged in producing, exploring, developing and acquiring reservoirs of natural gas and oil. It also provides other oilfield services like drilling, midstream and substantial marketing. The company’s focus primarily lies to discover and develop unconventional natural gas and oilfields onshore in the U.S. The company has recently appointed its Chief Compliance Officer, Patrick K. Craine.