|By PR Newswire||
|February 25, 2014 04:18 PM EST|
OKLAHOMA CITY, Feb. 25, 2014 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD) (the "Company") today announced that it has closed the sale of its Gulf of Mexico and Gulf coast business to Fieldwood Energy LLC, for $750 million, subject to customary adjustments; the assumption of $370 million of abandonment liabilities; and a 2.0% overriding royalty interest in certain exploration prospects. The effective date of the sale is December 1, 2013. During the fourth quarter of 2013, the divested properties produced approximately 23 MBoe per day. The Company expects to reinvest the proceeds over time in its Mid-Continent drilling projects.
James Bennett, SandRidge's President and CEO, noted, "The sale of the Gulf assets allows us to heighten our focus on the Mid-Continent where we are leveraging our established competitive advantages to build real value for our shareholders. We look forward to our upcoming Investor/Analyst Meeting on Tuesday, March 4, 2014, at the NYSE where we will discuss in greater detail the successes, innovations, and upsides that are positioning SandRidge as the premier, high-return, growth-oriented, resource conversion company in the Mid-Continent."
About SandRidge Energy:
SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production. SandRidge and its subsidiaries also own and operate gas gathering and processing facilities and conduct marketing operations. In addition, Lariat Services, Inc., a wholly-owned subsidiary of SandRidge, owns and operates a drilling rig and related oil field services business. SandRidge focuses its exploration and production activities in the Mid-Continent region of the United States. SandRidge's internet address is www.sandridgeenergy.com.
Duane M. Grubert
EVP - Investor Relations and Strategy
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102
SOURCE SandRidge Energy, Inc.
Feb. 20, 2017 07:00 PM EST Reads: 8,208
Feb. 20, 2017 06:15 PM EST Reads: 983
Feb. 20, 2017 06:15 PM EST Reads: 790
Feb. 20, 2017 06:15 PM EST Reads: 4,301
Feb. 20, 2017 05:45 PM EST Reads: 454
Feb. 20, 2017 05:30 PM EST Reads: 3,894
Feb. 20, 2017 05:30 PM EST Reads: 2,230
Feb. 20, 2017 05:15 PM EST Reads: 951
Feb. 20, 2017 02:45 PM EST Reads: 443
Feb. 20, 2017 02:15 PM EST Reads: 1,094
Feb. 20, 2017 01:15 PM EST Reads: 414
Feb. 20, 2017 01:00 PM EST Reads: 5,859
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Feb. 20, 2017 01:00 PM EST Reads: 1,199
Feb. 20, 2017 01:00 PM EST Reads: 10,051
Feb. 20, 2017 01:00 PM EST Reads: 848