SandRidge and RAM Energy Poised for Growth as Middle Eastern Unrest Heightens
March 28 2011 - 8:16AM
Marketwired
In recent weeks, investors have been focused on oil and gas
companies that do not have exposure to Libya and other troubled
spots, but stand to benefit from oil's recent spike in price. While
analyst consensus is that the world can function without Libya's
exports, Victor Shum, an energy analyst at Purvin and Gertz, warns,
"The worry is about what's next. What if protests persist in Iran
and things get out of hand?" The Bedford Report examines the
outlook for companies in the Oil and Gas sector and provides
research reports on SandRidge Energy, Inc. (NYSE: SD) and RAM
Energy Resources, Inc. (NASDAQ: RAME). Access to the full company
reports can be found at:
www.bedfordreport.com/2011-03-SD
www.bedfordreport.com/2011-03-RAME
Middle Eastern conflicts are making drilling operations outside
the region increasingly important. SandRidge Energy is focused on
developing shallow, permeable, carbonate reservoirs and is heavily
invested in drilling operations in Texas, Kansas and Oklahoma.
In late February SandRidge reported a net loss of $208.02
million, or $0.53 per share, for the fourth quarter ended December
31, 2010, compared to a net loss attributable to common
stockholders of $434.24 million, or $2.36 per share in the year ago
period.
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Riding small-cap energy's huge 2011 run, shares of RAM Energy
touched a new 52-week high this month. Earlier this month the
Tulsa-based oil & gas producer reported a $4.3 million net
loss, or five cents per share, for the fourth quarter ending
December 31, 2010. The loss included $2.4 million in realized
derivative losses due to modification of the company's hedge
portfolio. The company said that its CAPEX budget for year 2011 is
likely to be $35 million.
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