New SandRidge CEO expects fiscal discipline

online.wsj.com Published: June 20, 2013
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SandRidge Energy will focus on drilling its most promising oil and gas properties while running a tight fiscal ship, new Chief Executive James Bennett told the Wall Street Journal on Thursday.

The company will be following a strategy put in place by a recently revamped board. Bennett, who had served as SandRidge's chief financial officer since 2011, on Wednesday replaced embattled founder Tom Ward, who is getting a severance package valued at about $90 million. Ward's compensation and allegations of self-dealing were at the center of a months-long proxy battle between the company and New York hedge fund TPG-Axon Capital LP.

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