SandRidge Bets Against Shale in the Oil Patch

SandRidge is bucking the industry by sticking with traditional fields

Tom Ward has always considered himself a contrarian. In his senior year of high school in Seiling, Okla. (pop. 1,000), Ward rejected the advice of his principal, who thought the football jock was best suited for a small college, and enrolled in the University of Oklahoma. Later, as co-founder of Chesapeake Energy, he spent some $14 billion on gas assets from 1998 to 2006—when most of the industry was focused on oil—and built the country’s No. 2 gas producer. “Chesapeake grew from a $1 stock to a $30 stock in that time frame,” Ward says with pride.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.