Exploration & Production | Drilling / Well Results | Quarterly / Earnings Reports
Sandridge Divests Permian Assets; Reduces Well Costs
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Permian Highlights:
Decreased average Permian well cost from $700,000 in the fourth quarter of 2012 to $600,000 in the second quarter of 2013. Permian Basin Update:
In the first quarter of 2013, the company closed the sale of its Permian Basin assets other than those associated with SandRidge Permian Trust. The divested assets produced approximately 1.15 MMBoe net during the first quarter before the close of the sale. In the company's retained Permian properties, 52 wells were drilled during the second quarter of 2013. SandRidge plans to utilize three rigs and expects to drill approximately 215 wells in 2013, all for SandRidge Permian Trust. The company's retained Permian Basin assets produced 6.0 MBoe per day during the…
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