One-Page Deal Sheet
SandRidge Completes two Asset Sales
Morgan Stanley Sandridge Energy, Inc.
Announced Date
May 07,2009
Close Date
June 30,2009
Transaction Type
Asset
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Permian,Ark-La-Tex
Country
United States
State
Texas
Play
Calculated Metrics( EV/Category)
Transaction Details: Subscribe to see
SandRidge Energy, Inc. today announced the closing of the two previously announced transactions. Total proceeds of approximately $258 million were used to pay down borrowings from the company’s revolving credit facility. SandRidge completed the sale of gathering and compression assets receiving proceeds of $200 million.
These assets are located specifically in the Piñon Field, part of the West Texas Overthrust, located in Pecos and Terrell counties. The purchaser of these assets was an entity formed and financed by TCW Asset Management Company on behalf of its institutional clients. SandRidge…