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SandRidge Mississippian Trust II
Ticker Symbol: SDRMU* CUSIP: 80007V106 Exchange: OTOTC
* NOTE: This security is no longer trading as of 12/16/2021
Company's Online Profile
BUSINESS: SandRidge Mississippian Trust II owns overriding royalty interests in certain of SandRidge's properties in the Mississippian formation in northern Oklahoma and southern Kansas. These royalty interests will entitle the trust to receive, after the deduction of certain costs, (a) 80% of the proceeds attributable to SandRidge's net revenue interest in the sale of production from 67 producing wells and (b) 70% of the proceeds attributable to SandRidge's net revenue interest in the sale of production from 206 development wells to be drilled within an area of mutual interest consisting of approximately 81,200 gross acres (53,000 net acres) held by SandRidge. The trust will not be responsible for any costs related to the operation of the producing wells or the drilling or operation of the development wells. The trust will be treated as a partnership for U.S. federal income tax purposes.
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Notes: November 18, 2021 -- SANDRIDGE MISSISSIPPIAN TRUST II (OTC: SDRMU) today announced that there will be no further distribution to unitholders, as the Trust’s final expenses, including the expenses relating to the winding up and termination of the Trust, have exhausted the cash reserves of $1,230,013 previously withheld by the Trustee for the payment of future known, anticipated or contingent expenses or liabilities of the Trust following the distribution to unitholders in November 2020.
The Trust units will be removed from trading and cancelled following this press release. The Trust will remain in existence until the filing of a certificate of cancellation with the Secretary of State of the State of Delaware following the completion of the winding up process, which will occur on or before December 31, 2021. November 12, 2019-- SandRidge Mississippian Trust II (NYSE: SDR) today announced that it has received notification from the New York Stock Exchange (“NYSE”) of its determination to suspend trading of the Trust’s units of beneficial interest (the “Trust units”), effective as of the close of trading on November 11, 2019, and to initiate proceedings to delist the Trust units. The determination to commence the delisting proceeding results from the Trust’s inability to satisfy the continued listing compliance standards set forth under Rule 802.01C of the NYSE Listed Company Manual because the average closing price of the Trust units fell below $1.00 over a 30 consecutive trading-day period that ended May 8, 2019, and the Trust was unable to regain compliance with the applicable standards within a six-month cure period that concluded on November 10, 2019.
As a result of the suspension, the Trust expects that the Trust units will begin trading on November 12, 2019 under the symbol “SDRMU” on the OTC Pink Market, which is operated by OTC Markets Group Inc. (“OTC Pink”).
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IPO - 4/18/2012 - 26.00 Million Units @ $21.00 /unit.
Link to IPO Prospectus
Previous Ticker Symbol: SDR Changed: 11/12/2019
Micro Cap Stock -
Market Value $51.8 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102 |
| Main Phone Number |
405-429-5500 |
| Fax Number |
405-429-5977 |
| Investor Contact
Duane M. Grubert
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405-429-5515
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Toll Free Phone Number |
Unknown |
| CEO - James Donald Bennett |
CFO - Julian Bott |
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