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  "docSlug": "0de5d4c67f19",
  "documentTitle": "SandRidge Energy (SD)",
  "authorId": "16_TPG-Axon",
  "authorName": "Dinakar Singh",
  "documentKindSlug": "activist-deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-01-18 00:00:00",
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  "notes": "The slide uses direct quotes from a 2012 proxy statement to highlight potential conflicts of interest.",
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      "text": "Since 2008, SandRidge has disclosed $9.5 million of payments to entities related to Tom Ward and the Ward family",
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      "text": "SandRidge has disclosed certain transactions between SandRidge and entities related to Tom Ward and the Ward family, including TLW Land & Cattle and WCT Resources",
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      "text": "From the 2012 proxy: “In January 2011, we purchased a portion of the working interest in leases covering acreage in northeast Oklahoma from WCT Resources, L.L.C., a limited liability company formed in 2002 and owned by trusts established in 1989 for the benefit of Mr. Ward’s children (“WCT”), for $391,955. WCT also participates as a working interest owner in wells we operate in northwest Oklahoma, and during 2011, we paid revenue of $168,196 to WCT as a working interest owner.”",
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      "text": "Since 2008, SandRidge has disclosed $9.5 million of payments to entities related to Tom Ward and the Ward family",
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      "text": "$3.9 million to TLW Land & Cattle\n$5.6 million to WCT Resources",
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      "text": "From the 2012 proxy: “We own wells on certain areas of land in northwest Oklahoma under which TLW Land & Cattle LP (“TLW LC”), an entity in which Mr. Ward has an ownership interest, owns a royalty interest. In 2011, we paid royalties totaling $925,735 to TLW-LC in connection with the production of oil and natural gas from these properties.”",
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      "text": "TLW Land & Cattle LP – “an entity in which Mr. Ward has an ownership interest”",
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      "text": "WCT Resources – “a limited liability company owned by trusts established for the benefit of Mr. Ward’s children”",
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      "text": "payments to related entities: $9.5 million",
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      "text": "We own wells on certain areas of land in northwest Oklahoma under which TLW Land & Cattle LP (\"TLW LC\"), an entity in which Mr. Ward has an ownership interest, owns a royalty interest. In 2011, we paid royalties totaling $925,735 to TLW-LC in connection with the production of oil and natural gas from these properties. — 2012 proxy",
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      "text": "What SandRidge has already disclosed...",
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