One-Page Deal Sheet
SandRidge Energy Agrees to Sell East Texas Property for $231 Million
Nfr Energy Sandridge Energy, Inc.
Announced Date
October 27,2011
Close Date
November 14,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
231
Transaction Details: Subscribe to see
SandRidge Energy, Inc. today announced that it has signed a Purchase and Sales Agreement with NFR Energy LLC whereby SandRidge would sell its East Texas natural gas properties in Gregg, Harrison, Rusk and Panola counties for $231 million. The sold properties include approximately 25,000 net acres with average 2011 production of approximately 25 MMcfed. SandRidge intends to use the cash proceeds to fund a portion of its oil focused drilling program. SandRidge expects the transaction, which is subject to customary closing conditions, to close in November.
SandRidge Chairman and CEO, Tom Ward…
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