Seeking Alpha

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).

SandRidge's indication during the third quarter conference call on November 9 that it was pursuing a sale of its Permian assets stirred a controversy among investors, contributing to calls...

Only subscribers can access this article, which is part of the PRO research library covering 3,798 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: