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SandRidge Energy Selling All Permian Basin Assets

By: Karl Rundgren
Updated: December 20, 2012
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OKLAHOMA CITY, OK -- SandRidge Energy is selling off all of its property in the Permian Basin, as it shifts its focus in the energy market.

    The Oklahoma City, OK-based company is selling off assets as it switches its focus from being a natural gas company to one more focused on oil.

    The company is selling its Permian Basin holding to Sheridan Production Partners for about $2.6 billion in cash.

    The money gained from the sale will also help SandRidge Energy reduce their debt.

    The deal should close in early 2013.

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