Two more SandRidge Energy executives will leave in May

SandRidge Energy Inc. executives Todd N. Tipton and Rodney E. Johnson are leaving the company, effective May 10, according to a regulatory filing.
by Jay F. Marks Modified: April 26, 2013 at 8:28 pm •  Published: April 27, 2013

Tipton and Johnson each will receive a lump-sum payment of a year's salary and vesting of previously issued restricted stock. Each of the men earned about $420,000 in 2011, according to the firm's 2012 proxy statement. They each will receive stock worth at least $1.38 million.

SandRidge's stock closed Friday at $4.99, up 21 cents a share.

Tipton and Johnson also have agreed not to compete with the Oklahoma City oil company in the Mississippian formation or try to hire SandRidge employees for a year.

Their departures will be effective May 10.

Other changes

Also Friday, SandRidge announced the promotion of Lance J. Galvin to senior vice president of corporate reservoir engineering.

“We are fortunate to have a deep bench of talented leaders,” Dewey said. “With more than 32 years of industry experience and a focus in reservoir engineering, Lance will now play an even greater role in the company's future success.”

Galvin joined SandRidge in August 2011 as reservoir engineering manager.

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by Jay F. Marks
Energy Reporter
Jay F. Marks has been covering Oklahoma news since graduating from Oklahoma State University in 1996. He worked in Sulphur and Enid before joining The Oklahoman in 2005. Marks has been covering the energy industry since 2009.
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