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SandRidge facing Justice Department scrutiny

SandRidge Energy Inc. received a subpoena from the U.S. Department of Justice in December, the company revealed in a regulatory filing Friday.
BY JAY F. MARKS Modified: March 1, 2014 at 9:00 am •  Published: March 1, 2014
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SandRidge Energy Inc. is cooperating with the U.S. Department of Justice investigation into possible antitrust violations by the company.

SandRidge revealed in a regulatory filing Friday that it had received a subpoena Dec. 18 from federal investigators looking into the company’s leasing of land and oil or natural gas rights.

CEO James Bennett did not shed much light on the issue during Friday’s fourth-quarter earnings call with analysts.

He said he didn’t think the investigation was anything for analysts to be worried about.

“It’s early in the process,” Bennett said.

“We don’t even know (the focus of the investigation),” he said.

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