Reduce future funding needs. TPG-Axon said SandRidge has acquired more Mississippi Lime acreage in northern Oklahoma and western Kansas than it can develop. The shareholder has asked the company to either sell or develop joint ventures to help it reduce the cost of producing the large area.
Consider a full sale of the company. “While we do not believe a sale of the company is required to create significant value for shareholders, we do believe it is an option that the board should carefully consider,” TPG-Axon said in its stockholder solicitation.