SandRidge investor still wants leadership change

“Management is doing what we said we would do — staying true to our brand, doing things strategically and efficiently and once again making a move that creates tremendous value for the company and its shareholders,” SandRidge spokesman Greg Dewey said.

Mount Kellet had urged SandRidge to hold off on the sale of its Permian assets, which it estimated were worth up to $4 billion.

Jonathan Fiorello, Mount Kellett's chief operating officer, wrote last month that SandRidge should let a reconstituted board and management team decide its future direction.

“SandRidge has great assets and should be a great company,” he wrote, “but it is clear that it will not be without changes at the top.”