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Bloomberg: Midstates Petroleum in talks to buy assets from SandRidge

  • Midstates Petroleum (MPO +1.4%) is in talks to buy SandRidge Energy’s (SD +2.7%) Mississippi and Oklahoma operations, and a deal could be reached by the end of the monthafter setting out to acquire the entire company earlier this year, Bloomberg reports.
  • SD has been exploring strategic options since June following Carl Icahn’s successful campaign to win control of its board, and said it entered into confidentiality agreements with 26 potential buyers - including MPO - for all or some of its assets.
  • Earlier this year, SD rejected an offer from MPO to acquire the entire company in a stock-for-stock deal, citing different opinions of MPO's proven oil and gas reserves.

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Midstates Petroleum Company, Inc.