SandRidgeEnergy, Inc Corporation is established in Oklahoma City, Oklahoma. The main focuses of this corporation includes hale oil production, natural gas, and oil exploration. This company owned 177.8 million barrels of oil reserves in North Park Basin and Mid-Continent of U.S by the end of 2017. This company developed new techniques for shale oil production. The major control of the board of company was taken by a billionaire investor Carl Icahn in 2017. After this,the company started receiving bids from 26 potential bidders. Among these bidders, eight were willing to buy the whole company while others were interested to buy few shares of the company.
The management association of the company was working on the strategies to identify the higher opportunities for success to target the higher goals. A review process was conducted when potential bidders contact the company. In the first round on those bids were evacuated how were interested in buying the assets or shares of the company. The board of management of the company selected three highest bids that were, $305 million for Mississippi, $100 million for North Park assets and $ 70 million for Northwest property. After a deep strategic review, all of these bids were canceled by the board of Director in September 2018 as they were negatively affecting the company. It was observed that the development techniques for oil developed by the company elevated the stock price. It showed a prominent increase of $ 10 per share in stock price. The production of shale oil production was also positively affected by this.