SandRidge Permian Trust Announces Proposed Sale of Permian Assets by SandRidge Energy Not Expected to Affect SandRidge Permian Trust
AUSTIN, Texas--(BUSINESS WIRE)-- SANDRIDGE PERMIAN TRUST (PER) announced today that the sponsor of SandRidge Permian Trust, SandRidge Energy, Inc., has announced that it is exploring the sale of its Permian Basin assets, excluding those associated with the trust. SandRidge Energy has informed the Trustee that SandRidge Energy will retain all operations within the trusts area of mutual interest and intends to meet its drilling obligation, and that any sale of SandRidge Energys Permian assets is not expected to have any impact on the operations and underlying assets of SandRidge Permian Trust.
This press release contains statements that are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are forward-looking statements for purposes of these provisions. These forward-looking statements include the statements regarding any future actions by SandRidge Energy. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither SandRidge nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Common Units issued by SandRidge Permian Trust is subject to the risks described in the Trusts Annual Report on Form 10-K for the year ended December 31, 2011, and all of its other filings with the SEC. The Trusts quarterly and other filed reports are or will be available over the Internet at the SECs web site at http://www.sec.gov.
SandRidge Permian Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell, 1-512-236-6531
Source: SandRidge Permian TrustCopyright Business Wire 2012