The Market Is Not Described as Much Value to Permian Acreage

The CEO spent like $20 million buying shares when they did the IPO. They just did a transformational acquisition, but it doesn't really show up in the Q4 numbers because closed mid quarter. So it's just not really on anyone's radar that the company's twice as big as it was. The difference is that Sandridge could have done something accretive with their cash and paid a dividend today. It'd probably trade higher today if it held onto the cash. And I think what you're going to be seeing from them is mostly they're going to lever up and buy assets which will give them an equity kicker.