SandRidge Energy (SD) announced on December 19 that it has agreed to sell its Permian Basin properties to Sheridan Production Partners II, an oil and gas investment vehicle sponsored by Warburg Pincus, for $2.6 billion in cash. As of the end of the third quarter, production from the properties being sold (primarily mature fields in the Central Platform Basin) was 24,500 Boe/d, of which 67% was oil, 15% NGLs and 18% natural gas. The sale excludes assets associated with SandRidge Permian Trust (PER).
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