SandRidge Energy Selling All Permian Basin Assets
By: Karl Rundgren
Updated: December 20, 2012
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.
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.
