While SandRidge Energy reported a $216 million net loss in its second quarter, one company executive has just acquired 200,000 shares in the struggling firm.
A filing with the Securities Exchange Commission on Friday showed Salah Gamoudi , SandRidge’s Chief Financial Officer and Chief Accounting Officer acquired the common stock in an August 11 transaction. The filing showed no value for the price of derivative security.
Gamoudi joined SandRidge Energy in July and previously had been a Chief Accounting Officer and Controller for Remora Royalties, Inc. He also had been Chief Accounting Officer and Vice President for Jones Energy, Inc.
His acquisition of company shares followed a second quarter loss of $6.06 a share which the firm blamed on “significantly challenged commodity prices, a non-cash ceiling test write down and an impairment of $7.4 million or 21 cents a share.