SandRidge Permian Trust (NYSE:PER)

Chemdawg (94.71) Submitted: 5/2/2013 11:16:06 AM : Start Price: $13.73 PER Score: -3.37

Tons of income and hedged at 100 per barrel for the next few years

djkumquat (51.88) Submitted: 4/7/2013 1:31:43 AM : Start Price: $13.60 PER Score: -5.40

bottom feeding for defensive yield play. jakila has a nice write-up at SA.

JakilaTheHun (99.93) Submitted: 3/9/2013 8:36:17 AM : Start Price: $13.55 PER Score: -5.33

PER is slightly undervalued in my view. Meanwhile, it's becoming much more difficult to find bargains in the broader market. At $14, PER will probably provide an IRR in the range of 12% - 14%. Even my conservative estimate put it at 9%, so I think this is a reasonable income investment for the next few years. At the very least, I'd favor it over the S&P 500.

This is by no means a "home run" type of pick, but if you're looking for a steady income stream, this is a good bet.

diggerdan28 (47.76) Submitted: 3/4/2013 7:28:47 PM : Start Price: $13.99 PER Score: -9.34

Still lots of production and a nice dividend.

oviedopeo (54.91) Submitted: 9/25/2012 11:36:02 PM : Start Price: $17.90 PER Score: +38.29

Oil prices tending lower, after Isreal attacks Iran oil prices will go up,and stay up for a while

mrmok (81.80) Submitted: 4/24/2012 6:28:08 PM : Start Price: $18.65 PER Score: -46.53

dividend play

lc8361 (< 20) Submitted: 2/24/2012 7:55:59 PM : Start Price: $20.34 PER Score: -54.46

per

pninal (< 20) Submitted: 2/22/2012 2:01:44 AM : Start Price: $20.45 PER Score: -54.61

sd sdt per

ajstudebaker (< 20) Submitted: 1/24/2012 11:40:17 AM : Start Price: $18.70 PER Score: -52.90

Great dividend. Output is weighted to oil, not natural gas.

heball (< 20) Submitted: 1/1/2012 2:20:52 PM : Start Price: $18.44 PER Score: -57.15

Good for the next 29 years, even with the fluctuation of oil prices, I look forward to increased divs in the future.

gimponthego (< 20) Submitted: 11/4/2011 10:15:02 AM : Start Price: $15.81 PER Score: -46.11

over 800 wells pumpin' black gold! Short and sweet crude!

njmiles03 (< 20) Submitted: 10/6/2011 2:50:28 PM : Start Price: $13.77 PER Score: -43.36

Energy.
Income stream.

TSIF (99.96) Submitted: 8/28/2011 6:03:24 PM : Start Price: $14.20 PER Score: -50.21

SandRidge Permian Trust was spun off into an IPO by SandRidge Energy on August 11th, two weeks ago at $18 per share, slightly below the target. SandRidge Permian Trust raised $540 Million on 30 Million shares issued. Sandridge did a similar IPO with SandRidge Mississippian Trust I (SDT) for wells it held in Oklahoma....why Mississippi Trust for Oklahoma wells....hmmmm maybe SnadRidge is Geographically challenged. The $1.06 Dividend in August three months later shows the potential of this type of trust as a dividend play and how it might be desired by those looking for a dividend income.

SandRidge Permian currently has 509 producing wells in western Texas, (13 not complete), but estimates they have room on the acreage for up to 888 more with reasonable spacing. Wells are relatively shallow.

Trusts have various variations on how they are implemented. Some are for a certain time period, some disappear as the resource is used up. SandRidge Permian plans on splitting profits between shareholders and continued drilling that should carry it through more than a decade at potentially increasing production and has considerable more time before worrying about asset depletion that faces trusts like Dominion (DOM) which has confused dividend chasing investors over the last two years as it winds down. With a mix of new drilling and asset, (oil/NG) hedging SandRidge Permian Trust expects to produce stable dividends.

Personally, I believe a bottom on oil even in a bad ecomony is at least $80 per barrel. SandRidge, (all three variations) has low cost production. Once solid dividends are established then SandRidge Permian Trust will receive more investor attention. The first dividend on the Mississippi Trust resulted in a solid share price appreciation for it's cousin SDT.

Reevaluate each quarter with dividends, oil prices, and managements performance in balancing hedges and capex.