SandRidge Energy (SD) is facing mounting challenges in 2020 with the weak outlook for prices for NGLs and natural gas, combined with its lack of hedges. It needs decent prices for those commodities in order to fund its oilier North Park Basin development, but now appears likely to end up unable to fund much development without substantial cash burn.
As well, asset sale multiples for non-top tier plays with low oil percentages appear to be pretty modest right now, affecting the value of its NW Stack and Mississippian Lime assets.
Natural Gas And NGLs
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